All Forum Posts by: Jason Breton

@James Carlson Thanks! Hope all is well. We should connect and chat about opportunities out there. I have thought about mountain homes. Albeit higher price point, the STR cash is hard to ignore.

@Bonnie Griffin Kaake Thank you! DM’ing you now.

@Eric Michiels Thank you! Just sent you a DM.

@Jimmy Vasquez Thank you! Can you recommend any good wholesalers? I've run the gambit of strategies at my SFR. Regulation has impacted me significantly and I learned some good lessons along the way. I recently converted one unit from medium term to long term due to rent increases. Renting it out 2+ times a year versus 1 was also a major consideration. Hoping that ends up being a solid decision. Curious why investors don't profit their first BRRR? Love to connect off line and catch up. I'll DM you.

@Ben Rhodin Great content! I agree with everything you said. Have some experience on the creativity front, but looking for more opportunities. Love to connect. I’ll DM you.

@Dan Guenther Thanks! I've thinking about the SFR with a MIL that can be a STR. I do know someone who rents by the room and found it successful. I'll keep that one in mind!

@Brad Jacobson Thanks for the feedback! The median list price in Denver is $545k, so a little higher then SLC. I'm getting gross rents of $3550 on the house hack duplex. Was considering trying to get a SFR with a MIL and rent it to someone who would Airbnb the MIL. It seems very hard to cash flow on a SFR without being creative.

Colorado home prices are up ~14% year over year including some of the hottest zip codes in the nation. Is this giving investors pause? Where are investors finding deals?

I currently have one house hack duplex in Denver and looking to put some cash to work in single or multi family units. Also, looking to deepen my network in the area and nationally, so love to connect with any like minded investors.

@Cliff H. Tried something similar to create a spa like feel with essential oil diffusers in my STR. First guest who stayed gave me a bad review. It's a tough one to nail down. Everyone's tastes are so different. Might be better off ditching the scents.

@Charles Conroy I did this 16 months ago in Denver. It turned into a bidding war. Looking back I likely overpaid and the market has cooled off a little, which hasn’t helped. Both units were renovated to different levels of quality roughly 15 years ago and I chose not to upgrade and move in / rent, as is. That said, I live in the nicer 1st floor 1br/1ba unit and rent the upstairs 2br/1ba on Airbnb. Airbnb pays 80% of the mortgage and has an average yearly occupancy of 75-95%. The issue I’m having now is the exit. LTR structured the right way will barely cash flow. I’m thinking now, due to some great guidance on BP, to leverage medium term furnished rentals as a way to exit and sustain higher cash flow.

Couple takeaways I’d point out:

1. I did my first deal and learned a ton about owning a rental including how to successfully navigate Airbnb. My duplex is in an emerging part of Denver, so long term appreciation should be good. Definitely don’t regret it.

2. However, I didn’t spend enough time upfront really analyzing the exit prior to buying. Thought that Airbnb would be an option and clearly regulation is moving further away from friendly.

3. Airbnb is the most profitable option, which you could totally do in your situation. The condition of the unit is important, but not as important as you may think. It’s all about supply/demand. High demand in Denver and dwindling supply due to regulation.

Good luck and have fun!