All Forum Posts by: Dan Guenther

Just a quick reminder to get your RSVP in for next weeks Meetup at Oskar Blues! Looking forward to seeing everyone there! 

https://www.meetup.com/boulder...

Hey @Phillip Austin, 

With the popularity of house hacking in Denver, especially rent by the room, I think you'd be doing yourself a favor by offering rent by the room property management. I work with a lot of house hackers in the Denver Metro and constantly get asked for recommendations on PM's that handle rent by the room. 

I personally manage my rent by the room property and yes there are some headaches, but as you mentioned it's one of the most viable ways to maximize returns in a high-priced market. Let's connect and talk a bit more. 

Hey @Cari Roeber, welcome to the community. I respect the hustle! 

When you are just starting out it's really easy to get overwhelmed with all the different routes you can take to start making money in real estate. I'd recommend that you focus on the networking aspect right now. Finding other investors that you connect well with will be really helpful as you get started. I'm not in your market but feel free to reach out if you want some help narrowing down on your goals as you get started. 

Good luck to you! 

Hey @Madeline McKune, welcome to the community! 

Here are some insights to consider:

1) Direct Mail Services:  Some commonly used platforms include PostcardMania, Yellow Letters Complete, Wise Pelican, and Click2Mail. These services offer various features such as customizable templates, list generation, and direct mailing.

2) Experiences with Services: You'll hear mixed experiences from investor to investor with direct mail campaigns. Some investors have reported notable successes, including acquiring quality leads, negotiating profitable deals, and building a strong network. However, challenges have also been encountered, such as low response rates, high costs, and difficulties in targeting the right audience. It is advisable to thoroughly research each service, read reviews, and consider their pricing structures and customization options before making a decision.

3) Response rates for direct mail campaigns can differ depending on several factors, including the quality of the mailing list, the content and design of the mailer, and the overall market conditions. While it's challenging to provide an exact figure, response rates of 1% to 3% are often considered successful in the industry. However, it's important to note that response rates can vary significantly, and it's essential to track and analyze your own campaign's performance to make informed decisions and improvements. Make sure to set realistic expectations as you learn the process. 

In addition to these insights, here are a few general recommendations for your direct mail campaign:

a. Targeted Mailing List: Invest time in building a targeted mailing list that focuses on homeowners in the Denver area who are likely to be motivated sellers. Consider using filters such as equity, absentee owners, pre-foreclosure, or vacant properties to refine your list.

b. Compelling Content: Craft a well-designed mailer that grabs attention and clearly communicates your value proposition. Highlight the benefits of working with you, such as a fast and hassle-free sale, fair offers, or any unique selling points that set you apart.

c. Consistency and Follow-up: Direct mail campaigns often require multiple touchpoints to generate a response. Plan for consistent mailings over a specific period, and consider implementing a follow-up system to increase your chances of success.

d. Test and Analyze: Experiment with different approaches, such as changing the design, the message, or the call-to-action, to gauge their impact on response rates. Regularly track and analyze the results to refine your campaign strategy.

Remember, each market and situation can vary, so it's crucial to adapt and iterate based on your own experiences. 

Hey @Tripp Warren, welcome to the community! 

Believe it or not, there are few lenders out there that offer investment loan products below 20% down. Reach out and can chat a bit more!

Hey @Jessica Tse, welcome to the community! 

As a young investor in your 20s, it's exciting to embark on your real estate journey and plan for your first house hack. Choosing the right location for your investments can greatly impact your success and personal fulfillment. 

Consider Your Long-Term Goals:
When deciding where to start investing, it's crucial to align your location choices with your long-term goals. Think about factors like job opportunities, career growth, proximity to family and friends, and your desired lifestyle. Assess your willingness to relocate if necessary and explore areas that offer the right mix of professional and personal opportunities.

Research Regional Markets:
Take the time to thoroughly research various regions and cities to identify those that align with your investment criteria and personal preferences. Look for areas with stable or growing economies, diverse industries, and strong rental markets. Analyze demographic trends, population growth, and demand for housing to ensure you're investing in an area with potential for long-term appreciation.

Networking and Local Connections:
Building a network of professionals and like-minded individuals in your target areas can be invaluable. Attend real estate meetups, join online forums, and connect with local investors, real estate agents, and property managers. They can provide insights into specific markets and share their experiences, helping you make informed decisions about potential investment locations.

Evaluate Local Market Fundamentals:
As you mentioned, an ethnically diverse, urban area with a decent population of young professionals and career opportunities is important to you. While Chicago is a possibility, explore other cities in the Midwest that offer similar qualities. Minneapolis, Minnesota; Madison, Wisconsin; and Kansas City, Missouri are examples of cities that fit your criteria. Research the local economy, rental demand, and investment prospects in these regions to determine if they align with your goals.

Analyze Local Governance and Regulations:
Understanding the impact of governance on real estate investing is crucial. Consider factors like tax rates, landlord-tenant laws, and regulations that may affect your ability to generate positive cash flow or enjoy a favorable investing environment. While certain locations may have more stringent regulations, it's important to assess the overall investment climate and weigh it against your personal preferences.

Personal vs. Business Decision:
The importance of location can vary depending on your investment strategy and personal circumstances. Some investors prioritize proximity to family, while others prioritize higher returns or specific market conditions. Striking a balance between personal and business considerations is essential. Consider your risk tolerance, financial goals, and lifestyle preferences when making location decisions. While investing in the mid-west may offer lower price points and closer proximity to family, you will likely see a lower return on investment (ROI) due to slower appreciation and lower rents compared to bigger cities like Denver.

Learn from Experienced Investors:
Experienced investors often consider multiple factors when deciding where to settle down or invest. Connect with seasoned investors, seek their advice, and learn from their experiences. Understand how they evaluated potential locations, what factors influenced their decisions, and the outcomes they achieved. Their insights can help you gain a broader perspective and refine your own decision-making process.

Good luck to you on your REI journey!

Hey @Shirley Kocho,

Welcome to the BP community! While the prices here in Denver might be a bit of a sticker shock to many investors, there is still plenty of opportunity and good deals to be had here. This is all going to depend on your goals and risk tolerance. I might sound like a broken record here but house hacking is a very viable option and a great way to get started. If you are already paying rent here then house hacking will allow you to decrease or eliminate your living expenses while learning how to manage a property and develop landlording skills, along with all the other benefits of property ownership (tax benefits, appreciation, loan paydown via tenants). 

Reach out if you'd like to talk a bit more about the different strategies that are working in the current market here in Colorado, happy to help!

Good luck to you! 

Hey @Peter Spann

 It's great to hear that you've done your research and have decided that turnkey investing is the right path for you. Connecting with others who are already involved in turnkey investing can provide you with valuable insights and support along your journey. Here are some recommendations and ideas to help you get started:

1. Join Real Estate Investment Groups: Look for local real estate investment groups or forums online where you can connect with like-minded individuals who are already engaged in turnkey investing. These communities often organize meetups, webinars, and workshops where you can network, learn from experienced investors, and potentially find investment opportunities.
2. Attend Real Estate Events: Check out real estate conferences, seminars, and workshops happening in your area or even nationally. These events often attract seasoned investors, real estate professionals, and experts who can share their knowledge and provide guidance on turnkey investing.
3. Utilize Online Platforms: Explore online platforms dedicated to real estate investing, such as BiggerPockets (www.biggerpockets.com), where you can connect with a large community of investors, ask questions, and gain insights from their experiences. You can join relevant groups or forums specifically focused on turnkey investing to interact with others pursuing similar strategies.
4. Research Turnkey Providers: Look for reputable turnkey providers in your desired markets. These providers typically specialize in acquiring properties, renovating them, and making them ready for investment. Reach out to them directly to learn more about their services, investment opportunities, and any guidance they can offer to new investors.
5. Build a Power Team: As you venture into turnkey investing, it's crucial to have a reliable network of professionals who can assist you throughout the process. This may include real estate agents, property managers, contractors, and accountants. Establishing relationships with these experts will help ensure smooth operations and reduce potential risks.
6. Conduct Due Diligence: When evaluating turnkey properties, conduct thorough due diligence. Assess factors such as the location, rental market demand, property condition, rental income potential, and the track record of the turnkey provider. Don't hesitate to ask for references or testimonials from other investors who have worked with the provider.
7. Start Locally or Nationwide: Decide whether you want to focus on local or national turnkey investments. Local investments allow for closer supervision, while nationwide investments can offer diversification and access to potentially more lucrative markets. Consider your risk tolerance, available resources, and investment goals when making this decision.

Remember, education and continuous learning are key in real estate investing. Stay up-to-date with market trends, industry news, and investment strategies through books, podcasts, online courses, and professional development opportunities. Networking and learning from experienced investors will also accelerate your growth in the field.

Reach out if you want to discuss any opportunities here in the Colorado market and good luck to you! 

Looking to step up your deal analysis skills? This informative session is designed to provide you with valuable insights and practical tips on analyzing deals all with the free resources at your fingertips.

We will cover a wide range of topics, including the current state of the market, how to find comparable rents, estimating taxes and insurance, and much more.

If you are interested in learning how to analyze a deal with the short term, long term, medium term, or even rent by the room strategy, this webinar is the perfect opportunity to learn from two investor agents who do this daily, Dan Guenther and Ian Jimeno! You'll have the chance to interact with us, ask questions, and get the inside scoop on what it takes to succeed in today's competitive real estate market.

So don't miss out on this incredible opportunity to enhance your knowledge and skills in real estate investing. Register now and join us for this exciting and interactive webinar!

Curious about a listing's potential income outside of the hours? Shoot us an email at

[email protected]; [email protected]

Hey @Bennan Wilson, welcome to the community! 

I've met my best contractors through meetup groups. In my opinion this is the best way to get in front of investors and to build relationships in a non-salesy manner. Reach out anytime, I'm always looking to connect with contractors in the area.