Luxury Single Family Homes Realize up to $300k Annual Income
Owning a piece of the Steamboat lifestyle quickly becomes a dream for many who descend into the beautiful Yampa Valley.
The default turn-key solution for most out of town buyers has traditionally been a mountainside condo. With close proximity to the slopes, minimum maintenance, and no hassle amenities, condos check many of the boxes for second homeowners looking for their slice of paradise. The commoditized nature of Steamboat condos provides a secure investment option with finite bookends.
For some second home owners though, the aspirational dream of owning a single-family home is a lingering curiosity. The appeal of additional privacy, freedom, and ownership of an asset rooted in scarcity is often hindered by a barrage of questions. Can I afford it? What about property maintenance? Who will take care of my home when I am gone? These are all common questions and concerns that get in the way of many considering a transition from a condo to a single family home.
It is true, the next tier of luxury property ownership comes with a price. With increasing demand and replacement build costs, single family home valuations are increasing. While a rising tide lifts all boats, all boats are not equal! Median single family home values rose 14% in 2016 (scarcity), as compared to condos at 4% (commodity). Maintenance and care are also legitimate concerns.
But what if you could make the jump to a luxury single family home, offset the increase in costs, forget about maintenance concerns, drop HOA dues, and simultaneously gain a significant annual income?
Enter luxury rental and management companies like Moving Mountains (www.movingmountains.com). Steamboat’s Moving Mountains is approaching management of 80 luxury properties which produce annual gross rental incomes ranging from $75,000 to $300,000. Originating 20 years ago from the world of luxury charter yachts based in the British Virgin Islands, Robin and Heather Craigen have created a business model built on curated service and attention to detail. With robust services and focused marketing, Moving Mountains achieves exceptional ADR rates (Average Daily Rate) of $1,500-$2,000, providing home owners with a viable revenue stream to offset costs and manage positive yields.
“One of the primary concerns from potential clients is that their home will be respected and well looked after. The premium homes and services we offer, coupled with our diligent staff, mean that your home will be taken care of as if it were our own,” says Robin Craigen. Additional perks for homeowners subscribing to Moving Mountains services range from full home maintenance, access to on-call shuttles that can whisk you from your door to the ski lift, and concierge and chef services—all culminating to deliver the ultimate luxury experience.
For more info and strategy on how this may
affect your next high-end property investment, contact the Fryer Team for a free report on “Luxury Single Family Investment Models.”
About the Authors
Darrin Fryer – “Best of the Boat” award winner and consistent Top Producer at Steamboat Sotheby’s International Realty, Darrin knows real estate better than anyone around. He can be reached at 970.846.5551 or darrin.fryer@steamboatsir.com.
Ryan Cox – Ryan offers his real estate clients a unique skill set, honed through his corporate background in international customer service, marketing, sales operations, and analytics, and his experience in high-end new construction. He can be reached at 970.819.5359 or ryan.cox@steamboatsir.com.