All Forum Posts by: Emily Fischer

Hello! I'd like to attend the next event! :)

Hi Matt, thanks for responding! Are you stating that this rule applies to STR or are you saying that we should look at STR to get around this rule?

This is what the code states:

2010 DZC, Section 11.8.2.2.4 requires the owner of a zone lot on which an ADU is maintained to occupy either the primary dwelling unit or the ADU as the owner's legal and permanent residence. For purposes of this provision, "the owner's legal and permanent residence" shall mean a property owner who makes his or her legal residence at the site, as evidenced by voter registration, vehicle registration, or similar means.

It seems pretty cut and dry, but I was wondering if there is a work around. You said STR, but I thought the new rules in Denver state that to do Airbnb you have to live on site.

Hello,

My husband and I are looking at places in Denver with an ADU. We don't completely understand the rules and aren't finding the city planning department to be very useful. The rules seem to state that the owner must live on location in order to be able to rent out an ADU. This seems pretty constricting (and that might be the point). We would love to eventually be able to move out and continue to rent out both places. Any ideas on this? Does this count towards only new ADU builds or would existing ADUs be subject to this rule as well?

Is there anyone looking to sell one or two tickets? My husband and I would love to attend. Thanks!

Thanks for the replies! We would be doing the house hacking no matter what, so the type of loan would be the same. The question is should we wait until the perfect deal comes along (potentially taking a long time) or find a good deal in a much shorter time span. 

Unfortunately, I don't really feel comfortable sharing a space with other people. We have a 9 year old daughter and I just don't want unknown people living in the same space as her. So, we are looking at a place with an ADU or a duplex.

When I told him that I didn't think that house hacking with a duplex would completely cover the mortgage, etc, he said "Ok, we wait to buy a Triplex." He seems to have this idea that the more units, the better. This contradicts a lot of the information I'm reading on the forums. 

Hello All, My husband and I are looking at buying our first home. We have been sacrificing by living with my parents for the past 8 months to save up money. It has been hard. My parents have very different life styles and I have an hour plus drive (one way) to my work and my friends. I've reached the point where I'm just so sick of all the driving. It's impacting my mental health. I'm ready to buy a place now. I've been talking to my husband about the idea of real estate investing. My parents own 3 duplexes and that has been really good for them. After discovering biggerpockets he is finally on board.

The big problem is we are in the Denver/Northern Colorado market. Where we need to live, we can't find much for under $250k. We are planning on house hacking, but we would most likely still have a payment we would have to cover. I feel like my husband has unrealistic expectations. He expects to have rent cover all of our payment. I've run the numbers on several prices and I don't think that is going to happen in this market.

I've been thinking we find a good deal (instead of waiting forever for the perfect deal). Once we have a place of our own that is also paying us some money through rent, we can be patient about finding the next deal. Eventually we are thinking about investing outside of our market, but that is down the road. My husband wants to be super extreme and wait until we find the diamond deal. I don't think I can do that and it's causing some friction between us. Any advice?