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Things to Consider when Buying Investment Property

Things to Consider when Buying Investment Property

On the off chance that this can be your first time venturing into the world of investment properties, it’s typical to feel a bit overwhelmed by the procedure. There is a lot to ponder, and a lot at risk, too.

You need to have a strong understanding and a clear goal to determine what makes a good purchase, whether it be for a condo, a townhouse, or a single-family home. When you do it right, you will have a definite return through a passive income, tax breaks, and definite equity gains.

To help you out, here’s a quick guide on things you need to consider to determine whether it is a good idea to take the leap in buying an investment property.

Location, Location, Location

Location, location, location’, is a shared mantra in real estate. Write this down on your priority list – location first, property second. Location is the key to valuable real estate.

Though we do understand that you are going for the physical structure, having the right property in a wrong location is most likely not the property you need at all.

You need to consider the appearance, accessibility, and facilities of a neighborhood as well as plans for expansion and development. Also, a lot’s nearness to factors like busy roadways and public centers makes it less advantageous for resale.

Furthermore, acreage often outdoes the value of a property since land has a tendency to increase in value.

Define your property type

It is best to lay down all your plans and specifications, and define the type of property you want to invest in.

Ask yourself these questions, do you prefer to have a single-family home or do you want a multi-unit property? Or are you going for a low-maintenance condo

Notably, you can actually get more cash flow with multi-family property, however, single-family properties tend to acquire more equity appreciation potential in thriving real estate markets. Or maybe, you prefer to have a townhouse in the mountain area?

Your answer to these questions will determine the next steps your real estate agent will be taking to provide you the best options.

Best time of year

Real estate markets undergo seasonality, which results in a certain rise and fall at specific times, all year-round. The best time to purchase a property every so often ends up in the late summer or early fall.

About this time of the year, there tends to be less competition compared to the peak season during spring and summer, despite that, there is still a quite a good number of properties on the market.

Bedroom count matters

A 3-bedroom property versus a 4-bedroom one for the exact same size or square footage, usually does not rent for the same price. Though they are often sold for the same price. Positively, having a home with more rooms is always an advantage – more uses, bigger chance of charging more for rent, opportunity to do home improvements, and is preferred for family buyers. However, that is always not the case, since more rooms compromises other home spaces.

On the bottom line, it is important to check with your real estate agent the pros and cons of having a 3,4, or 5 bedroom space to make sure that you maintain your profit margins as high as possible.

Vacation Rental Management

You won’t want to spend your time managing vacation rentals since it entails a lot of work. Thus, most homeowners opt to outsource these tasks to short-term rental or vacation management companies.

Partnering with them includes listing the rentals on online booking platforms, setting the price for each rental and making adjustments for season changes; responding to inquiries from potential and existing guests; and communicating with cleaning and maintenance staff all throughout the duration of your contract with them. Property managers earn a commission from every booking they successfully confirm.

There are a lot more factors that you need to consider but these are the focal things that will help you kick start your investment. However, it is best to keep in mind that there is no guarantee for a big return in your property investment – you need to do rigid planning on selecting and buying your investment property, with high consideration of market trends and general guidelines.

Thus, it would be best to always reach out to your local real estate agents before making the leap. Contact Westward Advisors for a consultation or book a no-obligation call with us at 303-641-3341.


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Smith Ranch: Now on its PHASE 5!

Smith Ranch: Now on its PHASE 5!

At its meeting on Wednesday, May 12, the Silverthorne Town Council began work on Phase 5 of the Smith Ranch workforce housing area, passing an ordinance on first reading that will guide the town through the project.

The phase, according to Town Manager Ryan Hyland, is the next stage in finishing what has become “a fantastic success story” in Silverthorne. He stated that work on laying the infrastructure has already begun.

Locals’ enthusiasm for Smith Ranch is a double-edged sword, according to Hyland, because there is a limited quantity of available units.

All 60 Phase 1 homes and 37 Phase 2 dwellings are fully occupied, according to planning manager Lina Lesmes. She went on to say that the 28 Phase 3 homes are nearly finished, with 19 closings, and the 22 Phase 4 homes are completely under contract.

Applications for Phase 5 are expected to open at the end of June and remain open for at least three weeks into July, according to Lesmes. According to Lesmes, the lottery will take place in the middle of August. Ten single-family homes, ten duplex units, and 20 townhome units will be available in the first phase.

Hyland also mentioned Smith Ranch’s proximity to Trent Park, which is located across Willow Creek to the north of the property. According to him, the town has a plan for Trent Park development that includes a direct connection between the park and Smith Ranch for automobiles and pedestrians.

“It’s kind of hard to believe we’re getting more toward the tail end of the development, just a few phases to go,” Hyland said. “It seems like we just started, but a lot of folks (are) living in the neighborhood now, and it’s Silverthorne’s newest workforce neighborhood.”

#realestate #realestateagent #mountainliving #Silverthorne #Colorado #Ranch #SmithRanch #Home #realtor #TrentPark #ranch

If you are looking for a new home for sale in Silverthorne Real Estate, call Lindsey Stapay at 970-435-5700 to arrange a showing of all the properties for sale at Smith Ranch and other areas of Silverthorne and Summit County, Colorado.

Breckenridge : Local Travel Tips

Breckenridge : Local Travel Tips

Where do locals eat breakfast? Hang out? Grab a beer? Take their families during peak times? Let’s save you the trouble of approaching a local to ask!

Here are some of our favorite places to mingle with community members and new friends from across the globe.

Breakfast at Breck

Mom’s Bakery

There’s no shortage of places to find good coffee and a hearty breakfast, but slightly off Main Street. Mom’s Bakery, in Lincoln is a hot spot for coffee meet ups and small business gatherings. They have what are arguably the best breakfast burritos in town, too!

Amazing Grace

If you like healthy sandwiches, salads, or wraps, stop by Amazing Grace. The little yellow house on French St. is owned by local Monique Merrill, who can routinely be found hauling herself up mountains at breakneck speeds, as she was one of the world’s top adventure racers.

Happiness in a plate

South Ridge Seafood Grill

Since 1998 South Ridge Seafood Grill has been serving the finest seafood in the Colorado Rockies. The menu relies heavily on the freshest available seafood but also includes hand cut steaks & fresh Colorado ingredients.

Mi Casa

One of Breckenridge’s longest standing apres ski spots (this winter, the place turns 35!), the Mi Casa cantina is popping between 3 and 6 p.m every day with weary workers throwing back margaritas and eating Juan’s hot wings. Join the fiesta… Mi Casa es su casa

Indoor Social Spot 

South Ridge Seafood Grill

Since 1998 South Ridge Seafood Grill has been serving the finest seafood in the Colorado Rockies. The menu relies heavily on the freshest available seafood but also includes hand cut steaks & fresh Colorado ingredients.


Mi Casa

One of Breckenridge’s longest standing apres ski spots (this winter, the place turns 35!), the Mi Casa cantina is popping between 3 and 6 p.m every day with weary workers throwing back margaritas and eating Juan’s hot wings. Join the fiesta… Mi Casa es su casa

Winter & Summer Outdoor Spots

Carter Park

Yes, we know… there are practically more dogs that live here than people. But where they socialize is where we socialize – the Carter Park dog park.

While our culture of meet-and-greet doesn’t involve tackling, licking, watching our dogs engage in such behavior is highly entertaining. If you don’t have a dog, bring your sled (and your kids), because this is also the No. 1 sledding spot in town next to the latest one on Airport road next to one of the best kids parks in the County!

(Photos courtesy of,, and

#breckenridgerealestate #summitcounty #mountainliving #realestate #realtorlifestyle #bestofbreck #visitbreck #brecklife #coloradolife #luxuryrealestate #blog #travel #lifestyleblogger #entrepreneur #gobreck #ski #food #travel

Colorado: Living among the Great Outdoors

Colorado: Living among the Great Outdoors

Living the Mountain Life!”

Isn’t that why you’re reading this article? To be inspired to live in and be around nature to improve your way of life.?

Well then, you’ve come to the right place! Colorado is one of the most fascinating when it comes to the scenery and way of life among the numerous peak counties.

But… there is so much more to living in the mountains when natural resources come at a heavy price. The mountains have been home to many cultures and continue to be home to many people who live on them.

“Mountain lifestyle finds creative ways to conserve to be apart of the greater sense of community. We are aware of our footprint on the environment every day.'” states, Westward Advisors CEO, Lindsey Stapay.

Among the many ways to conserve and protect, we’ve broken it down to the most important but not limited to:

Know What Can Be Recycled in the Area

In the Summit County, recycling isn’t as easy as it seems. Some areas have limited plastic recycling and sometimes NONE at all.

Thus, on top of your reminder list, you should make sure to bring your own bags with you to the grocery shop. And when you’re out shopping, keep an eye on how many plastic containers you’re buying – particularly on plastics that you won’t be able to recycle.

Take note, plastics no. 4 and no. 5 CANNOT be recycled in Summit County Colorado

Be Aware of Weather Changes

Living in the mountains, you need to be up-to-date with the weather change… If a “cold snap” occurs, you’ll know to close the blinds and lock the doors even tighter to keep the heat you’ve worked so hard to create inside. It’s all about staying warm and comfy. We can be strategic about airflow in the home; by using low cost practices we can reduce and improve how we use energy in our homes.

But, it’s not always the cold and wet season…

Spring is an excellent time to look over your house and identify areas that might benefit from more comfort by adding insulation. If you want to talk about how to make the structure more efficient, contact a local roofer and/or energy auditor.

Our Favorite Resource are listed HERE.

If it’s Yellow, Let it Mellow

Every drop of water counts. As much as locals value nature and its resources, protecting and conserving the drinkable water source might just be on their top list.

Thus, when cleaning up yellowish waste waters, let it sit for a while, but keep an eye on the chemicals while cleaning the restrooms. To note, septic systems can go “off balance” if you use the wrong cleaners but otherwise we should never put toxins that could affect the water system including medications.

Summer in the mountains get dry quickly! Please work to save water when you can.

See more useful tips at High County Preservation. If you want to start your living your mountain lifestyle, Westward Advisors will find the perfect mountain home for you and your family!


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