Cabin thread

[funkfool]

Ok - my dad had a cabin and property (near Cripple Creek) that we would visit (and maintain - paint, cut wood, grade the road, etc.) before he passed away... I still go up there to visit and do all the maintenance even tho it is now my step-mothers (great woman BTW).
However - I would like to either...
1. Make my maintenance routines easier
2. Purchase the cabin and property cheaper than market with tax incentives for her.
3. Figure out a way to make the cabin 'pay' for itself.
How many of you also have cabins that require maintenence?
Any ideas on making the cabin into a rental?
Real estate options to eliminate fees and taxes?
Who has experience or ideas on this?
Pics:
Dad -w/ .22
http://i911.photobucket.com/albums/ac313/funkfoolery/Cabin/dad_w_22.jpg
Cabin front yard - Rhyolite Mountain:
http://i911.photobucket.com/albums/ac313/funkfoolery/Cabin/DSCN1527.jpg
Cabin front (w/ wife - Talk to the hand!):
http://i911.photobucket.com/albums/ac313/funkfoolery/Cabin/DSCN1537.jpg
Cabin back yard - pikes peak in bkgrnd:
http://i911.photobucket.com/albums/ac313/funkfoolery/Cabin/DSCN1540.jpg
Better - closer - that is pikes peak from the south- looking NNE:
http://i911.photobucket.com/albums/ac313/funkfoolery/Cabin/DSCN1539.jpg

[Irving]

You might even have it pay for itself if you rent it out like a time share during high tourist seasons. Then you wouldn't completely lose use of it. Are there ski resorts near Cripple Creek? People pay retarded amounts of money to stay in a cabin for a week.

[funkfool]

Nah Stuart - it is on 67 at 4mile road. - close - but not quite.
Ski stuff is still further from other ideas...
Might be able to do something like that tho...

[Colorado Luckydog]

There is a lots of folks that would pay good money to rent a cabin in the mountais that don't ski. I just payed a ton this summer to stay in a cabin in the mountains in Arkansa. You might even be able to rent it out several months at a time to the same family. The problem is finding those families.

[SA Friday]

Not sure about the rest of it, but I do know this. Do ever ever ever sell that cabin or property, ever.

I'm not sure that renting is a very good idea either. I could see this requiring more maintenance in the long run, and dealing with strangers living in your property can be an ass load of bad ju-ju.

[Irving]

I agree with SA about never selling it. My family has a few cabins. The one in Tabernash/Fraiser area is on a small plot and when we were still kids, none of the plots around the cabin were developed so we could play around in the woods and it felt big. Now when you go up there it is like staying in a regular neighborhood because so many cabins have been built. My grandfather rented it for a while, but not forever. You can try renting it, and then just take it off the market if it doesn't work out. Is all that land part of it as well? That's a pretty decent sized piece of land if so.

[funkfool]

Nah - he sold it down to 12 acres now -was 45. I miss the extra space.
I agree - I want to keep it but - real estate value was 300K - on sale for 260K - I can't afford another big mortgage. It would be 1500 a month at least.... -BTW it is paid off - the purchase price was 165K. But she has her retirement to think of...

[sniper7]

You could rent that out for probably $400 a night pretty easy. you would also want to find a local and trustworthy maid/cleaning service that you could pay $50-75 to come in and clean it when people leave.

make a weekly rate at $2000.

people pay good money for views like this...especially if they plan it out and are coming in from NY or something.

I have a friend who does this with a custom built home in GA on a lake, he gets like $350 a night. I don't know the website he uses but it helps with people renting the place and helps people find the place.

for now you could look at craigslist. problem with that would be getting things paid for if some idiots came up and had a party and trashed the place...you might want to look for some software that will help with writing up a contract that says they are responsible for all damages and figure out a way to get a credit card on hold just in case...that is why my buddy did it through that company. you have to pay them a management fee but on the other hand it is nice to have the exposure they provide, the coverage they do, holding the credit card and people feel better about giving their card to a company instead of just any ole guy who they are renting a cabin from.

My friend just moved to CA for another job so i will have to see if he still has the place and is renting it out.

[funkfool]

Yeah - rent out - that is what I am thinking - but during the winter... you have to drain the water... so it requires a specific routine to use it....
You would have to know how "get along" in a cabin at 10,000 ft... - bring in water, use the fireplace - the gas etc....
http://i911.photobucket.com/albums/ac313/funkfoolery/Cabin/DSCN1531.jpg
See the 'human' vs 'animal' tracks?
http://i911.photobucket.com/albums/ac313/funkfoolery/Cabin/DSCN1533.jpg

[Elhuero]

That looks like an awesome place, I'd rent it.