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Updated almost 2 years ago,
STR / MTR Question
BP friends,
My wife and I have a house in Arvada, CO. It's a 5 bed, 4 bath 4000 SF single-family home that we're currently using as a short-term rental. An arbitrage company recently approached me offering to pay us, per month, about what we're making per month as an STR. My first thought was that to be able to make the same amount of $ per month without actively managing it sounds pretty enticing. But, my second thought was that if the arbitrage company is able to generate substantially more per month than I currently do, then why can't I?
We have it listed through RedAwning, a company that markets the property on many of the usual channels - AirBnB, Booking.com, VRBO etc.
The home isn't super close to anything, but is relatively close to a lot of things. Hospitals, Golden CO, Denver CO, Boulder CO, Olde Town Arvada etc. are all within a 20-30 minute drive.
From your experience(s), what else can I be doing to generate more and higher-dollar bookings with this property?
Here's a link to the AirBnB listing
Thanks in advance for any advice from experienced MTR and STR investors.
Neil