All Forum Posts by: Erin Spradlin

@Esther Kim - Absolutely. I'll send it in a private message. 

@Lindsay Massengale and @Jessica Hawkins - I am going to private message both of you as I run a free, monthly, female investing club online that covers Denver and Colorado Springs. Our speakers include real estate lawyers, real estate CPAs, investors from the local market, inspectors, appraisers, real estate agents (me), etc., etc. It's existed for two years and we have a pretty strong contingent of female investors at different levels. It could be a good resource for both of you.
And for anyone else reading this, you can join as well as long as you are female. :)

I think if we continue to see international travel and air travel depressed, people, now Remote Workers,  may care about outdoor space more and a bigger backyard as the depressing concept of a staycation grows in popularity. Suburbs will do better, but rural will remain a place people don't want to live. 
I personally think people should be buying up condos and townhomes in cities right now. In Denver and Colorado Springs, they are the only areas where you can get any kind of price break and I fully believe people will come rushing back to the cities when concerts, restaurants, professional sports, etc. return. If that happens, then people might realize a lot of appreciation in the next 2-4 years on those types of properties. 

@James Carlson - Great post. I think a lot of people that may think home ownership is out of their reach or too expensive should pay attention to this as it is a very smart way to reduce your own mortgage payment and start to acquire equity quickly. 

@Colin Smith - I tend to agree with this point: your success level will be better if you reside in the house as well. That said, I know someone that has made this their business model and she is very happy with it (has at least 3, maybe 4 of these) and obviously, does not live in all of them. I think she is just very, very clear about expectations and that has helped. 

Hey Jeremy- We do a lot of 30+, furnished day rentals on our own investments and then also for our buying clients in Colorado Springs. People have different philosophies on how to best do this, but here are a few things that are important for this:

• at least two bedrooms
• preferably two living spaces (so, a large downstairs den in addition to a family room upstairs)
• different philosophies on having a TV in every room
• some people I know like this because it limits tenant interaction/limits fights
• other people I know reject this because rent by the room, in spirit, is co-living and social and a tv in each room is antithetical to that
• Provide very clear policies on cleaning, animals, quiet hours
• Charge more for anyone that gets dedicated parking
• Hope that helps. DM me if you have more questions. - Erin

@Shauna Graham - Welcome to the Colorado Springs market! I live here and love it and wrote this Bigger Pockets article awhile ago about why I think everyone should invest in Colorado Springs. https://www.biggerpockets.com/...

I'm also going to send you some resources through private message. Hope it helps and welcome to a great community. 

@Martina Musacchio - I'll private message you as well, but I live in Colorado Springs (near Colorado College) and my husband actually grew up in Missouri. We help clients find standard houses just to live in and/or for investments. It is a fast growing city with several pockets that stand out for the near future. I find it to be a very exciting place to invest. 

The podcast we'll listen to ahead of time is: Actionable Financial Tips by the Fairer Cents podcast.You can find the podcast here: https://thefairercents.com/201...

The speaker is Samantha Osborne. She is an investor in Michigan and Colorado Springs. She can tell you what it's like to have short-term/Airbnb tenants and properties before and during covid. Also, she'll provide tips and strategies for reducing friction with tenants, how to be organized and keeping your place/clean safe in uncertain times. 

Details:

Meeting link (still online) https://meet.google.com/zdi-os...

Date: Jan 28th, 6PM

Do you have to live in Colorado? No.

Do you have to speak on the call? No.

Do you have to be female? YES. 

@Stuart Grazier - I think it means rents will continue to do okay. I realize they are falling in Denver at the moment, but I think if this influx continues, furnished rentals should do just fine.