Skip to content
×
PRO
Pro Members Get Full Access!
Get off the sidelines and take action in real estate investing with BiggerPockets Pro. Our comprehensive suite of tools and resources minimize mistakes, support informed decisions, and propel you to success.
Advanced networking features
Market and Deal Finder tools
Property analysis calculators
Landlord Command Center
$0
TODAY
$69.00/month when billed monthly.
$32.50/month when billed annually.
7 day free trial. Cancel anytime
Already a Pro Member? Sign in here

Join Over 3 Million Real Estate Investors

Create a free BiggerPockets account to comment, participate, and connect with over 3 million real estate investors.
Use your real name
By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions.
The community here is like my own little personal real estate army that I can depend upon to help me through ANY problems I come across.
Starting Out
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated over 5 years ago,

User Stats

7
Posts
2
Votes
Matt Sears
  • Richmond, KY
2
Votes |
7
Posts

What's my next move in finding a property to AirBnb in Denver?

Matt Sears
  • Richmond, KY
Posted

A few years ago I became an accidental landlord when I moved and it made much more sense to rent the condo that I previously lived in than to sell it. Now, I've built up a bit of equity in that condo and I'd like to refinance it to buy my second rental property. I purchased the condo for $120k in 2013, I currently owe $80k, and based upon sales of VERY similar properties within the condo community, I believe it would sell today for $140k - $155k (immediate neighbor just sold their nearly identical unit for $153k). In short, I think I could get at least $30k for purchasing a second property by refinancing the condo (while maintaining 20% in the condo to avoid PMI).

What are the most important factors to consider when purchasing a property with the intent of getting the best return through AirBnB? Is the BiggerPockets AirBnB calculator any good? Mashvisor? Any other tools? Should I just find a knowledgable realtor?

I work in the Boulder/Denver area and this second property will become my primary residence. I've been thinking that a 3 bedroom unit would be best, but I'm open to other ideas. I would live in one bedroom while AirBnB'ing the other two. I also travel quite a bit for work, so I could AirBnB the whole place when I'm traveling. I've been looking at properties within the $275k - $300k range for a 3 bedroom, new construction, but again, I'm open to other ideas. I'll need to move for work within a couple years and plan to convert the property to a traditional rental at that time.

What should my next move be right now? Do I need to find a realtor that knows the Denver AirBnB market? Do I need to talk to a banker to get pre-approved for a new mortgage?

Loading replies...