All Forum Posts by: James Humphrey

Hi everyone, 

We are looking into a deal to purchase a 5 unit apartment building that currently operates as a short term rental. The price is $3MM. 

I have experience using DSCR loans that calculate the STR revenue to purchase smaller single family homes. But with this being a 5 unit multi-family building most lenders do not offer a loan product that will take the STR revenue into account.

Surely I'm not the first person to come up against this so I thought I would try and leverage this forum for advice. Does anyone have experience purchasing a 5+ unit multi-family building for the sole purpose of operating it as a short term rental? And if so, how did you finance the deal? 

Thanks in advance!

Hi everyone, 

I am brand new to the BP forum. I currently own one STR in the mountains outside of Denver and am looking to purchase additional investment properties. I would like to purchase long-term rentals (ideally in the Denver metro where I live) but am not sure what, if any, cash flow I could achieve.

I am looking to hear the prospectives of experiences Denver investors on what realistic cash flow goal is achievable in Denver in 2024 with a long term rental? I have roughly $600K in capitol to invest. I'd like to stay in Denver if possible because it seems like the appreciation in the Denver market is going to keep going up but if good cash flow is not achievable then I may need to look else where. 

Any other guidance or advice on strategy in the Denver market is appreciated!

Thanks,