All Forum Posts by: Dan Guenther

@Clayton Sneider - The STR market in Longmont is very lucrative! There are a few specific areas that bring in higher returns and some rules to consider when looking into it. For example, there cannot be more than one STR per block on the same side of the street. You can find this info on the city website or give the city a call to see if you're property qualifies. If you are good to go then the permitting process is relatively quick and easy.

Reach out if you want some help estimating potential income. As you mentioned, location could be an issue but it still might make sense to give STR a try!

 @Chase Puckett - reach out and we can chat a bit more about your options. 

Hey @Thomas Key! 

Small ticket items will definitely help your case but aren't going to force a whole lot of appreciation. Typically appraisers are looking for big-ticket items that make your property stand out from others within the area. These don't need to be crazy expensive projects. For example, adding an egress window ($3500-$5000 here in Denver) to a room making it a legal bedroom is a quick way to increase your property value. Other options would be remodeling a bathroom or adding additional living space to increase total SqFt. 

Hey BP community, I'm looking to take on someone willing to help me out with off-market deal sourcing in the Boulder County/ Longmont CO region. It would be great if you have experience but not necessary. Ideally looking for someone that is looking to learn the ropes while making some money along the way. Reach out to talk more! 

Hey @Max Fils Remfort, welcome to the community! It sounds like you are already on a great track. House hacking is a great game plan. One of the best things you can do to prepare right now is to get out and network with other investors and real estate professionals. Look for some local meetups in your area and get out to build as many relationships as possible. Reach out if you want to go more in-depth on any questions you have. I'm in the Denver market but happy to help you out regardless of where you choose to make that first investment! 

Hey @Nathan Crankfield - congrats on getting your first STR locked in! There are still a few Denver Metro areas that allow non-owner occupied (Arvada, Wheat Ridge, Westminster, Sherrelwood, Northglenn). However, regulations are changing quickly and I wouldn't be surprised if we continue to see things get more strict over the next 5 years.

As far as keeping the Englewood property up and running there is one solution that I've used in the past. Reach out if you want to talk a bit more about a couple of ideas you can work with. 

Hey @Cindy Lindberg, welcome to the community! If you check out the learn tab up top and then go to events, you'll find a whole bunch of meetups around Colorado. I host a monthly meetup in Longmont if you're interested. I'll send over the link. Good luck on your journey! 

Hey @Winona Newell, welcome to the community! I'd recommend reaching out to at least 3-4 lenders before committing to one in particular. You'll find that some lenders offer different loan products from others, especially when it comes to investment loan products. Reach out if you would like me to connect you with a few investment-focused lenders. 

Hey @Liz Rogers, welcome to the community! 

Your plan is 100% feasible. While investing from abroad is more of a challenge than being local to a market, it is definitely possible. I help multiple out-of-state clients a year here in Colorado. Finding a solid investor-friendly agent/lender that will be your boots on the ground will be one of the most critical steps to getting up and running while overseas. Reach out if you are curious about investment opportunities here in Colorado! Happy to share any advice I can! 

Good luck to you! 

Hey @Norton Lam , welcome to the community! 

Finding out how much a property could sell for is a crucial step in the real estate wholesaling process. Here are several methods you can use to determine the potential selling price of a property:

Comparative Market Analysis (CMA): A CMA involves comparing the property in question to similar properties (comps) that have recently sold in the same area. Look for properties with similar size, location, condition, and features. Analyzing the sale prices of these comps will give you an idea of the potential selling price for your property.

Online Real Estate Listings: Browse online platforms such as real estate websites, property listing portals, and MLS (Multiple Listing Service) to research the current asking prices of similar properties in the area. This will help you gauge the market value and potential selling price range.

Real Estate Agents: Consult local real estate agents who specialize in the area where the property is located. They have access to detailed market data and can provide insights on the potential selling price based on their expertise and knowledge of the local market.

Investor Network: Reach out to other real estate investors or wholesalers in your network. They might have experience with similar properties in the area and can provide guidance on estimating the potential selling price based on their knowledge and market expertise. Gong to local meetups is a great way to connect with other investors. 

Remember, these methods provide estimates and it's essential to account for various factors that can impact the property's value, such as market conditions, property condition, location, and potential renovations needed. Conducting thorough research and consulting professionals can help you make a more accurate assessment of the property's potential selling price. 

Reach out if you want to go over the property that you mentioned!