To Buy a Cabin or Not (CO or WY)

Discussion in 'The Rockies – It's all downhill from here...' started by tmz1m, Oct 22, 2017.

  1. tmz1m

    tmz1m Been here awhile

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    #61
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  2. Boricua

    Boricua Been here awhile

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    Plenty of room to land a plane though. I bet you can land on the road and no one will notice. That place is so huge and isolated. Its, for lack of a better word, epic.

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  3. cidi

    cidi cidi

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    Be careful with the “camping”. Unless you have a house that meets Park county Regs, you can camp a max of 14 days PER YEAR! Yeas that is on your own property....



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  4. tmz1m

    tmz1m Been here awhile

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    Definitely, I’ve read up on all of that. And the nonconforming shed seems like a recipe for code enforcement to come knocking.
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  5. surly357

    surly357 Cochetopa dreamin'

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    Colorado counties vary as much as HOAs when it comes to what's allowed!

    Sounds like Park County regs have gotten pretty draconian over the last several years.

    Gunnison County may still allow the euphemistically named 'storage shed with loft'. You see them on patented mining claims for sale in the Pitkin/Quartz Creek area now and then. FWIW, that seems to be a very moto-friendly area...

    Vault toilets and outhouses are another issue. If you see a cabin that seems too reasonably priced it probably needs a septic system installed before the new owner can move in. I know that's the case in Boulder County, but don't know if older cabins at Red Feather need to be upgraded...?

    Of course if you're looking for more of a 'vacation home' and less of a 'rustic cabin' changing regs probably don't matter much. I suppose defining 'cabin' might be like defining 'adventure bike'... ;-)
    #65
  6. Lomax

    Lomax Nanu-Nanu Adventurer

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  7. bomose

    bomose Long timer

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  8. jwrover

    jwrover Been here awhile

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    Lot of good advice here. Id suggest looking in the Grand Lake/Granby area. We just sold one there about 6 months ago. Had it for 8 years while our kids grew up. We drove from Loveland in the summer and winter. Kids loved it and hated us when we sold it..But we moved to Ouray so didn't need a Cabin in Mountains any longer.

    Try and find one that is fully furnished. focus on one of the less expensive "hobbies". We did canoes. Kids loved it. Was close to skiing, 4wheeling, camping etc so got exposure to all the mountain fun. But staple was simple wholesome family stuff.

    Always keep it listed "for Rent" somewhere on line. Even if you never rent it out. then when you are done you can 1031 exchange and not loose your investment to taxes. If you do "rent" it to family or friends for cleaning cost only, all the better. But DO NOT count on VRBO rental income. It's way more work and cost in maintenance than you or realtors realize. Especially if its not your primary line of work.

    But all in all...a great American tradition for a family with so many kids!!

    John
    #68
  9. =o&o>

    =o&o> I like to ==o&o>

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    IRS and the tax court will disagree with the above advice. Taxpayers repeatedly lose with far better fact patterns than the above.
    #69
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  10. tmz1m

    tmz1m Been here awhile

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    Thanks guys. We're unlikely to rent it out if we buy one, but it's good to know at least where to start in terms of tax consequences if they arise.
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  11. oldmanb777

    oldmanb777 Just say NO to socialism!

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    Renting it out is always problematic. And no......you can't escape most of the taxes. Those "loopholes" have mostly been closed. Then often there is a "bed tax" in many places. then short term rental laws are becoming more and more restrictive. Only a matter of time before the Gubermint finds more ways to tax that revenue. Grand county just recently passed a short term rental law. And our HOA echoed that, and added a bit more restriction.
    The people I know who do short term rentals of their property, are constantly dealing with problems. The tenants seem to always take something, they seem to want a souvenir of your property. Sometimes things get broken. Cleaning between tenants is an issue. If you have a mgt company renting it for you, they take most of the revenue. Then rent it, sometimes telling you it hasn't rented. We saw that first hand. The neighbor, who rents theirs only to people they know. No pet policy is easily understood. They have some acute allergies. So their "Friends" brought their dog. The dog made a big mess, owners are allergic to the dog, etc etc etc. That will not end well. Just typical.................
    #71
  12. jwrover

    jwrover Been here awhile

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    :katIRS can Kiss it!!
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  13. eakins

    eakins Butler Maps

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    #73
  14. eakins

    eakins Butler Maps

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    This whole thread just says buy a smaller well depreciated class C camper and go find your spot in the woods 14 days at a time. It's gonna cost alot less than a cabin in the woods.

    OR

    Rent a place for a week at a time when the desire hits.
    #74
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  15. surly357

    surly357 Cochetopa dreamin'

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    Speaking of rentals, the Forest Service rents some pretty unique places. Elwood cabin, Brewery Cr g.s., etc. I think I even heard of an old lookout near Mancos.... ;-)
    #75
  16. nwcolorider

    nwcolorider NWCOLO

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  17. eakins

    eakins Butler Maps

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  18. nwcolorider

    nwcolorider NWCOLO

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    Problem is, I could not even come close to selling my place in Craig for what it is worth. So I will keep driving to Wyoming everyday to work.
    #78
  19. tmz1m

    tmz1m Been here awhile

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    The problem with most of those places is the “seasonal access.” That really means about four months out of the year.

    I called about a place the other day that said winter access by snowmobile. I asked how far and the agent casually mentioned it would be a 20-25 mile snowmobile ride. Not exactly practical.
    #79
  20. oldmanb777

    oldmanb777 Just say NO to socialism!

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    Is Battle Pass open in the winter? I thought it was a seasonal highway. But great area. Snowy's as well, but again seasonal highway.
    #80