All Forum Posts by: Dan Guenther

Hey @John R Bongiovanni -  I don’t have a ton of advice here, as I’m navigating some similar challenges myself. Mainly following along to see what insights others share.

I also go through Travelers and, so far, haven’t received a dreaded non-renewal for my rentals. However, I have recently been denied insurance quotes for new sober living homes in the Denver area that I'm working on setting up. I’m curious if this is also a result of the shifting landscape in the insurance industry. Anyone else experiencing similar issues?

Hey @Michael Lax - 

This will depend on a lot of factors, but you may not need to sell your long-term rental to get started. One option might be to convert your current long-term rental to a higher-yield strategy like rent-by-the-room or even sober living, which could significantly boost cash flow. With the increased income, you might be able to refinance or pull a HELOC to extract some equity and fund your short-term rental purchase while keeping your existing property.

Selling and using a DSCR loan (option #1) is certainly a valid approach, especially if you need to move quickly and your wife wants to leave her job ASAP. However, holding onto the current rental while optimizing its income potential could give you more flexibility in the long run.

There are a lot of factors to take into consideration here and a lot of missing information that would help to determine the best route that fits your specific situation and lifestyle but hopefully this helps a bit! 

Best of luck!

Hey @Matt Merrill - check out the events page here on BiggerPockets - go to the forums tab up top and then events & meetups on the right side. Also, if you aren't already on the Meetup app, that is where a lot of the local events are posted. There are Meetups every week in the Denver area so you should be able to find at least one while you are in town. I host a Meetup up in Longmont (just north of Denver) but we host on the last Thursday of every month so you won't be around for that one. 

Happy networking! 

Hey Mathew, welcome back to the game!

I'm a Longmont-based investor, agent, and property manager. Since 2021, the co-living model in NoCo and Denver has been my go-to strategy, and I still see a lot of potential in it. More recently, I launched my first sober living home in Longmont, which has been going well—though not without its challenges (happy to chat more about that later). There’s a massive demand for group homes and sober living in Fort Collins, and the operators I work with are actively searching for opportunities there. That could be something to consider, assuming you’re not looking for a property you can also use as a personal getaway.

Lately, I’ve been focused on sourcing deals, especially given the current interest rate environment for traditional sales. The most successful ones over the past year have been off-market—either cash deals with value-add potential or creative financing deals with lower entry costs and better terms. I’m actively hunting for these opportunities, but the biggest challenge is that they often come with less control over location and property specifics.

Hey @Derick Jennings - welcome to the BP community and the real estate investing world.  A LOT of what I have learned and the connections I've made along the way have come either directly or in-directly from this community. 

If you're currently renting, house hacking is by far the best way to get in the door. You might not cash flow right away, but even just offsetting what you were paying in rent while building equity, getting tax benefits, and learning how to be a landlord is a game changer. Instead of paying down someone else’s mortgage, you’re setting yourself up for bigger and better deals down the road.

Your first deal is going to depend on a lot of factors—how important is location? Do you have a partner or kids to consider? How much capital do you have? Are you comfortable with roommates? Would you take on a rehab to get a better deal? And of course, getting financing squared away is key so you know your price range, which will help narrow down locations and strategies. Without going down a rabbit hole here and overwhelming you, there are also creative ways to buy properties without needing to get traditional lending, but these types of deals are harder to come by and usually come with more risks. 

What’s not working right now is traditional long-term rentals—high interest rates have crushed a lot of those deals. To make things pencil out, you need to get creative. House hacking, short/mid-term rentals, co-living, sober living, or finding ways to add value are where the best opportunities are right now. 

You're in the right place and now is the time to focus on education and planning. Keep at it! 

Hey @Sara Capra!

I'd love to help you and your partner find a home in Denver that fits your vision. I've been investing in real estate since 2021 and specialize in properties that generate income—like short-term rentals, rent-by-the-room setups, converting single-family homes into duplexes and adding ADUs. Recent legislative bills have really helped with the regulations around building/converting spaces into an ADU in Colorado! I own a couple of rental properties myself (STR and Rent By The Room), so I know firsthand what to look for to make the numbers work while finding a great home to live in.

Let me know if you’d like to chat more about your goals and see how we can make them happen!

@Reid Ervin 

Great questions—there's a lot to unpack here, but I'll share what I've learned from my own experience, especially from a flip turned BRRRR, that I partnered on last year in Longmont CO. It worked out well, but not without its challenges, and I learned a ton along the way.

How to find a partner: 

Meetups and forums like this are great places to start. I’ve met most of my partners through in-person events because it’s easier to get a feel for someone’s personality and long-term vision. That said, don’t underestimate the power of building relationships before you pitch a deal. Even with a great opportunity, trust is the foundation of any partnership.

In my partnership, we had already worked together on multiple deals—me as the agent and him as the investor buyer—so we had established a strong foundation of trust. We both knew we were aligned in our goals and had a clear understanding of our respective roles in the deal from the outset.

If seller financing is part of the equation, look for someone who’s not only experienced with creative financing but also understands how to manage the potential risks involved. Share your goals openly and look for alignment—it’s better to take time finding the right partner than to rush into something that doesn’t click.

Vetting Potential Partners: 

When you find a potential partner, ask questions like:

• What’s your investing experience?
• How do you handle challenges in a deal (unexpected costs, market shifts, etc.)?
• What’s your communication style and preferred level of involvement with this deal?

Red flags for me include people who are overly optimistic without considering risks or those who don’t seem to have a clear plan for their contributions to the partnership. During my Longmont deal, I realized how important it was to have someone who not only brought resources to the table but also shared the workload and decision-making.

Structuring the Deal: 

For this large of a deal and any deal in general, transparency is key. Make sure both parties fully understand and agree on:

• How profits/losses will be split
• Who is responsible for what (e.g., repairs, management, communication with the seller).
• Exit strategies in case things don’t go as planned.

When you do find the right partner make sure to create a joint venture agreement that outlines all of this clearly. In my Longmont flip, we made sure to account for worst-case scenarios upfront so there were no surprises later. Not to raise any fear or negativity but in real estate it’s best to plan for the worst and hope for the best!

Final Thoughts: 

If the deal is really solid, raising the money will be the easy part—capital always flows to good opportunities. The challenge is finding a partner who shares your vision and is willing to put in the work to make it a win-win situation. Take your time, build the relationship first, and don’t hesitate to walk away if things don’t feel right. It’s much better to take it slow than to partner with someone who isn’t the right fit.

Good luck on this one, it sounds like a great opportunity! 

Hi BP Community,

I’m a Colorado residential real estate agent with a strong focus on investment properties—everything from short-term rentals to rent-by-the-room strategies. While I’ve had success helping my clients navigate the residential side, a few of them are now looking to scale into larger multifamily deals.

This is an area where I lack hands-on experience as an agent, and I want to ensure my clients are set up for success with someone who truly knows the commercial side of real estate. That’s why I’m reaching out to connect with Denver area commercial real estate agents who specialize in large multifamily properties.

Here’s what I’m hoping to achieve:

1) Referral Partnerships: I’d love to refer my clients to someone with commercial experience while maintaining a collaborative relationship.

2) Learn and Grow: I want to learn the ins and outs of the commercial side of being an agent. I’m open to shadowing, assisting, or taking on your less desirable tasks.

If you’re open to partnering, please let me know. I’m based in Longmont, Colorado but happy to connect virtually as well. Let’s discuss how we can support each other’s businesses and help our clients achieve their investment goals.

Looking forward to hearing from you!

Hey @Andre Bertoncin, welcome to the investing journey! It sounds like you're in a great position to get started—$100k saved up and a clear goal are huge advantages. I'm based in Colorado and have been investing here since early 2021, focusing on strategies like house hacking, rent-by-the-room setups, and flips. Denver is a strong market with solid appreciation and plenty of opportunities, especially for strategies like house hacking and the BRRRR method.

Your plan to start with FHA and house hacking is a great way to get your feet wet. Denver has a lot of older properties with value-add potential—small upgrades like fresh paint, updated kitchens, or even just better landscaping can make a big difference in forcing appreciation. Areas like Aurora, Arvada, and parts of Lakewood or Westminster can be good places to look, depending on your budget and target tenant.

If you’re looking for a base hit rather than a home run, focus on finding a property where the numbers work reasonably well as-is—cash flow might not be huge initially, but if you’ve got room to add value and refinance, you’ll build equity to reinvest. Just make sure you account for Denver’s higher property taxes, insurance costs, and the ever changing landlord regulations when running your numbers.

Feel free to ask more questions about the area or strategies—I’ve helped clients with similar goals and have personally done house hacks and short-term rentals around Boulder and Denver. You’re doing the right thing by jumping in and learning through action. Keep your first deal simple, and don’t be afraid to reach out if you need help or want a second set of eyes on a deal!

Good luck—Denver’s a great market to start building your portfolio!

Hey Janet, it's good to hear that you are not in a rush to get this one moved. I've helped multiple investors over the years in this exact situation and while it is definitely more difficult to sell a property with tenants in place, it does happen all the time! Being that your tenants are month to month does provide some relief for the new owner in terms of being less restricted on raising rent and/or replacing the tenants. I'll send you a DM now and we can talk about a few ideas that I have for you to be able to move this off market.