All Forum Posts by: Damian Cummings

@Lisa Asselin I have had a terrible experience with Knob and Tube. I’m also in New England, it costs way more than we anticipated.

@Ben Rhodin thank you! Enjoy the weekend man

@Ben Rhodin very helpful insight, and I appreciate the perspective. I love the idea of medium-term rentals of 30 or so days, I think that definitely could work. Is there a separate platform / website specifically for advertising to that market or just FB marketplace and the normal sites?

Thanks!

@Catie Lawrence @Jeff White thank you both for the responses! Sounds like maybe Arvada, Wheat Ridge, or Littleton might be good places to start!

@Kevin Smith very helpful thank you so much man

Adding to my own thread.. If people have recommendations for areas that do NOT require the STR to be your primary residence that would be preferred. Also, if people have advice on condo's in Denver.. Do most HOA's disallow STR's?

Thanks!

Hello, I am selling my primary residence in Portland, ME and am looking to buy a house in Denver, CO. My plan is to live in this house for about a year before turning it into a short term rental and buying another primary residence. I have a couple of questions... Are short term rentals a good idea in Denver? What areas of Denver should I stay away from? 

Does anyone have a nice single family or potentially a condo in the greater Denver area for < $450,000 that could also work for STR purposes?

Thanks!

@Ed Emmons this is exactly what I was looking for. Thanks Ed!

Thanks for the response Robert. Thankfully, this property is actually in Scarborough which is about 20 minutes from Portland. For that reason I don't think that the Portland rent cap is applicable here (I believe so anyway). My concern is more so if Maine State Housing will let me raise rents on 10+ units $400 right after closing on the property. It seems as though it shouldn't be an issue because most of these tenants are no longer on leases, and are month to month at this point.. 

Hello, I recently purchased a 16 unit property in Maine. 10 out of 16 of the units are on some sort of state housing program, but the rents are much lower than where they need to be. All of these units are 2 bedroom 1 bathroom. The section 8 housing allowance for 2br 1bth in the Portland area is $1,592. Most of the units sit at around $1,200 currently. My question is, would it be illegal for me to raise the rent up to $1,592 for the people who are on section 8? Considering most of these are 100% paid for by Maine State Housing, it wouldn't effect what the tenants pay at all for the most part. I am wondering is Maine State Housing will try to fight me on it or give me a hard time about it, even though that is the going rate and the past landlord was not proactive about increasing rent year to year. Thanks in advance for the advice if anyone has experience in this area.