Newbie's all the way

[Lynda R Willoughby]

Hello,

My husband and I are new to real estate investing. We are looking to invest in multi-family homes and some AirBnB's. We reside outside the Colorado Springs area. We would prefer to stay in the state for our first few properties, but are more than willing to leave the state if the numbers look better elsewhere. We are currently in another real estate coaching/mentorship besides this one. Looking to connect and learn with and from y'all.

[James Carlson]

@Lynda R Willoughby

Palm-to-face. Not to toot our own horn here, but this type of incorrect advice from your agent is the reason STR buyers in Denver and Colorado Springs should work with an agent that specializes in short-term rentals.

Colorado Springs still allows these non-owner occupied short-term rentals as long as they meet two criteria:

1. They are zoned R2 or another multi-unit zoning; and
2. They are also 500' away from another non-owner occupied STR.

That second criteria -- that they be 500' away from another investment Airbnb -- is the kicker. There are plenty of SFHs zoned R2 but once you draw the 500' bubbles around existing STRs, that leaves only small pockets where you can do it. 

That said, we find a handful of Airbnb-eligible properties every month. It's just a matter of if you're ready to jump on them when they come up. 

Good luck!!