I'm the managing partner of a company that owns resort rental properties, currently condominiums in Breckenridge and Dillon, CO, and a house in Breckenridge, CO. I spend an average of 12 hours per week "managing" them. I've been doing this since 2003, so it doesn't take as much time as it did when I was learning the ropes.
The 2 minority partners are friends from when we lived in Hanover, NH, who each own 20%, while our company owns 60%. Until COVID-19 shut us down in mid-March, we were content with our portfolio, but the partners are talking about buying some condos in the Vail market if the prices are right. I told them that I didn't want anything to do with Vail ever again, so if they want to get back into that market, they'll have to form their own new company and find someone to manage it for them. Being the majority owner with absolute veto power has some upside.
