All Forum Posts by: Brett Deas

For STR I have used Airdna but prefer price labs more. For long term population and demographics trends I would look at esri.com. They do offer a free trial but otherwise you have to pay but it is totally worth it.

Looks good, but in an area where 50K is the avg purchase price I bet you can easily find some good BRRR deals or find some way to add more cashflow without having a huge expense.

In my experience, people booking for others never ends well for the host. People love to bring extras, and don't have alot of accountability because they arent the ones paying. 

To help with the investment or not topic, do whatever makes the most out of your money. Rent is essentially wasting it when you can afford to buy and build principal, and a rental has that money working for you. So if financially you can afford a rental right now and a primary later I see no reason why you shouldn't do it. Obviously talk to a lender or two and see if it is in the cards for you to be able to buy two places so close together. And, as famously said in some book "a dollar saved is better than a dollar earned".  

I am not fimiliar with the area so I suggest you find some who is, but renting it out does not seem like a terrible idea. From the description you gave it could make a good STR with the bedroom count and the pool. However I would suggest if you do decide to rent it don't pull the equity out first. Cut your teeth on this first place for a while so you can really get a feel for it and some experience while having a good margin of safety if you have to sell. Then once you are comfortable pull some equity out and expand your portfolio, just don't over-leverage yourself at the beginning and loose it all.

I use Chase bank. Each place has its own pro and con but Chase's minimum balance is the lowest so I get less fee's than with other banks. 

It kinda just depends on what you can afford. There are some really high price 1.3M duplexes going up around cherry hills, but there are also some great options for a lot less than that in Lakewood or Brighton.  

Denver is not actually a home run market for STR's anymore. They banned the purchase and operation of non-owner occupied short term rentals, and the market is extremely saturated when it comes to separated basement units/bedrooms for rent.

Hey Ken, I think you should definitely talk to a local Real Estate attorney as they can provide much better advice and possibly help you avoid more costs in the long run. 

This is a very open-ended question, there are so many ways people use creative financing, hence the creative part. If you are worried about DTI parts I could recommend subject-to so you don't have to qualify for the loan, just make the payments on it. Or you can find financing partners to qualify for you. Or you can pursue seller financing where they are the bank and thus you won't have to qualify either.