It's time to spend weekend in Hills,
Hey, Everybody its Tristan Emond with mindful living Realty.
Welcome back to my YouTube channel.
I talk everything but moving to rapid city and the workflow things
over at the city and the black Hills and this episode trust about town.
We're staying in a vacation cabin for the weekend at Terry peak.
Terry peak is on the Northern edge of the black Hills, just beyond lead and
Deadwood, but an hour away from rapid city vacation home that we shade at.
Isn't a neighborhood just beyond the terry peak ski area.
This beautiful home had big windows.
Big spaces, game room
views all around and a hot tub to boot.
We watch movies, play games cooked on the stove and grilled up some steaks.
You love sitting on the deck, enjoying the fire
and watching the sunset each night.
It's March 7th, I'm sitting on the deck in the sun, but no coat on.
It's amazing.
If snow skiing and snowboarding is your thing.
You're minutes away from the Terry peak ski area where this beautiful views.
Multiple runs and play areas.
Historic lead is only a few miles away and he always check out deadwood
and see if he can win some money.
About 15 minutes west of this area is Spearfish canyon.
One afternoon.
We drove to iron Creek trail and enjoyed the scenery.
made sure to leave a sno wmarker.
Letting the world know demons were here, their vacation, home
rentals all over the black Hills.
You can find them as Poplar websites, such as Airbnb, the RBO
and local sites, such as executive logging and black Hills location.
cavities.com.
There are even a couple of sites specific to some of the vision
such as Edelweiss moutian.
Pro tip
if you do come up here to Terry peak, stay through Monday.
What happens is love people coming up to the weekend had to be back Sunday
night, so they leave Sunday morning.
So Sunday afternoon, it's peaceful and tranquil.
Got you covered.
Now that you've come this far in the video, you're
probably thinking two things.
The first one is boy tristan you're pretty cool in these videos.
Of course, who's the brains in this outfit.
My point, exactly.
Second thing is, wow.
Maybe I should buy a vacation home in the Hills and rent it out.
And that's a good possibility for you, but let's talk about a few
things you should know before you move forward with this thought form.
First, one more rules and regulations.
So first of all, is the county rules.
If you're within Pennington county, Which is the rapid city and hill city
area, right in the middle of the Hills.
They have a lot more rules in regarding to what properties can and cannot be
considered a nightly vacation rental, pennington county vacation ordinance
has three pages worth of rules, regulations, site plans, all these things.
They need to approve you to be a vacation home, nightly rental.
So it's really a lot of work to go through.
And sometimes it's not even worth the trouble.
Now, if you're buying a home at Pennington county, that already
has been a vacation home.
It can continue along in that step, grandfathered into it, so to speak.
But if you're buying a new property that hasn't been, you need to get approval
from Pennington county to make sure that it's a legal nightly rental.
Now, other counties in the black Hills, such as Custer
county and fall river county.
And so the south and Meade county, Lawrence county and Butte county to
the north east have fewer regulations.
So it's a lot easier to do a vacation home, nightly rental in those counties.
The other thing to consider while we're talking about rules and
regulations is the covenants of the property that you want to buy.
The rules of the subvision might prohibit nightly rentals might prohibit extra
people coming in to the property.
So you want to make sure that the covenants say
you're okay with the rentals.
All right, now that we've talked about the fun rules and regulations, let's talk
about getting into the process of thinking about buying a potential vacation home.
So the first question we have to ask ourselves or ask yourself is what is
your goal in this type of adventure?
Would it be to stay in the property all summer long and
rented out through the winter?
That's the case you might want to consider buying a property up in Terry
peak, which is closer to this ski area.
Do you want to buy a vacation homes for yourself?
And if Hey, if you haven't get it rented every once in a while.
Good for you.
In which case you have more options as far as where you're going to be and
your amenities and that kind of thing.
Or maybe you want to make a full-time run of it and just be a vacation rental.
And that's mostly what you want to use it for.
And just come out here a week or two over the year.
However, those best for you by answering this question for yourself,
we can then narrow down where you want to be, what amenities you need
to have the services you can offer, et cetera, et cetera, et cetera.
Let's talk about location for a moment.
Now people that are coming into the black Hills for vacation, want to use
a vacation, home to rent and then go day tripping every day and they make it
a vacation on their stay at home spot.
So if it's far, far back away from everything, not as many
people are going to be interested in renting a vacation property.
If you have to use a snowmobile to get to it in the wintertime.
Even less people could be interested in that piece.
So you got to make sure that you adjust the location of your
property to whatever your goal is.
As far as your vacation, home rental aspirations and to piggyback ride along
location is the idea of amenities.
If you are having a vacation, we want people to come to.
Do you want to have those things that most people are going to want such as a
decent wifi signal, maybe a hot tub, maybe there's a view or something, or maybe
you're back with somewhere in the trees.
You want to make sure that your property is appealing for
the most people as possible.
If that's your goal.
A property right next to a busy highway might not be as appealing, but you
don't want to be too far away from everything else that this takes a long
time to get out of where you're staying.
But of course, on the flip side, there are some people that like to get away
in the black Hills and just get away.
For example, those properties on Edelweiss mountain that I mentioned earlier.
They're like 20 minutes from the highway, 30 minutes to the nearest town.
So they're a little bit farther back and some of them don't
even have any wifi signal.
We stayed at one where we actually had a landline that we picked up
the phone and called her kids and gave them the landline phone number
because there was no cell service.
And that was great to get away for a while because that was, that was her intention.
But not everybody will like the fact that no wifi, I can't get ahold of anybody.
It doesn't always play with everybody.
Sure.
Whatever property we're looking at matches the goals that we've talked about earlier.
The other thing to consider, especially looking at this from
the business side of things is that there's plenty of competition.
There are plenty of black Hills vacation, home rentals available
all over the black Hills and all sorts of different areas in places.
So you need to make sure yours fits in as far as location, ammeniites, and price.
So let's talk about price for a bit.
Now I looked up on Airbnb that Terry pit area that we were just
at, you can find a rental up there anywhere from $150 to over $300.
Now, maybe you're doing the mental gymnastics right now, 200 to $300 a day.
Even if you figured out that you rent the property for half of the year, a little
bit of money in there, plus you charge on top of that for cleaning services
that doesn't come out of your pocket.
It could be a pretty good investment.
Well, let's talk about the price of the homes that you'd be
purchasing to get all this done.
For example, the properties that I've seen for sale in the Terry peak area have been
anywhere between $450,000 to $550,000.
And these are very nice 2000 square foot homes, some kind of log or wood
siding, very beautiful properties.
And this is the same throughout the blackheads, any property that has
some acreage with a house on it, especially a very nice looking house.
Probably give you a spend upwards of $400,000 for that property.
So make sure you run your numbers, make sure that that
was numbers, which your goals.
Finally, you need to consider who is going to clean and take care of this
property for you while you were away.
Now, there are plenty of vacation home management companies here, the
black Hills, and you can hire them to do all these services for you.
Make sure that they cleaned prior before you check in and make sure
that no frozen pipes everything's operational, that kind of thing.
Or you could do it yourself, hire your own cleaners to clean the property,
but what's going to happen when emergencies pop up, who's going to
take care of them in that scenario.
The other option of course, is to do it like my dad and his wife, do they rent
out their house during this time and then spend that time camping out in their RV,
in different places in the black Hills.
So it's like a extended camping trip.
And then when their guests leave, they come in and they
cleaned it for themselves.
Get it ready for the next guest.
There you go.
My friends, here's a few things to think about.
If you're thinking about buying a home in the black Hills and using
it as a nightly vacation rental, it was an amazing weekend for us.
Thanks so much for watching this video.
I hope you enjoyed it.
Please go ahead and give me that thumbs up.
And of course, remember to watch this video and this playlist.
Thanks again for watching everybody have a great day and
remember love where you live.