All Forum Posts by: Bo A Vanecko

This could set a president that others would follow and would just destroy STRs overnight.  its very similar to forcing uber/lyft to call their contractors employees.

@Mark Miles totally agree... i cant imagine it passing but considering how colorado springs recently went through some tough laws and others in the state have been pushing tougher STR laws...who knows... thanks for the contact...ill be reaching out!

@John Underwood absolutely only a bill as of now...but if it were to pass seems it would kill a large portion of STRs in the state instantaneously.   

i am curious if others are following this closely...  

building on the post that recently described the new laws in colorado springs, i came across this one which on the surface seems would decimate the market in CO and most all ski communities would see a flood of sales and vacant homes on the market ...unless of course one bought in decades ago ...

curious if anyone has been following this closer...  here is what i have found so far...perhaps im not reading into this correctly but doesnt sound good.

https://www.summitdaily.com/news/state-senator-proposes-classifying-short-term-rentals-as-commercial-property-leading-to-a-tax-hike/

https://openstates.org/co/bills/2020A/SB20-109/

https://altitude.law/legislative-season-is-in-full-swing/

So in the image below you can see the three closest:  

Entry is top right  closet for entry there on the top

master bedroom straight past the closet and its closest on the right as well in room

third that i was considering using is the guest closest which is in the room down hall on right

i have a portable wagon i was going to store in the front closet but i suppose i can build some way to store it next to the laundry equipment

the coats / boots then can be stored in front hall not the closet.  

other items then in the closets in the rooms...  i guess it could work...  perhaps its not an issue then to only have the two closets in the bedrooms?

Bo

I have a unit 1300 sq ft 2b/2b that I am going live in a few weeks for STR. Its in Winter Park CO and unfortunately the layout has only three main closets. all of them are 6' wide and 2' deep. about 8 foot internal height. problem is this leaves me with a conundrum on how to get an owners closet out of the unit.

in the rooms one will have a king bed and large 6 drawer dresser

the other room is guest/kids and will have a loft bed, a queen bed perpendicular under the loft, and then a lounge seat that is a pull out twin.  in there will be a tall 5 drawer dresser and a 5' x 4' storage unit with 3 large pull out drawers and two large shelves next to the drawers.  

happy to share pics of all this later if it helps.

so my question:  in the guest room, is it ok to close off the entire closet to make an owners closet?  will this get neg reviews right away if I don't at least provide half a closet?  I can easily put a hanging unit for close that need to be hung in the room.  if I go the half closet idea, building out shelves or locking half of sliding doors will take time and money to do.  any thoughts on best path forward?

thanks in advance.

Bo

@Michael Baum  great feedback..  consider this topic closed :)  the more and more i thought about all this the more i realized it was just not worth it.  also the mackie monitors are interesting ....saw this site as FYI  https://www.sweetwater.com/store/detail/CR4BT--mackie-cr4bt-4-inch-multimedia-monitors-with-bluetooth

@lucas carl 

@Luke Carl more and more seems the soundbar thing is not really a big deal.  

i do think that some nice bluetooth speakers in general would go long way...  

i keep going back to K.I.S.S.  .....  otherwise i will get call after call of not being able to "connect" etc.

another one for the VRBO / Short Term Rental experts:  bluetooth and sound systems.  i had bought a sonos playbar and sonos 1 dual speaker system but after reading more about the sonos system with respect to a multi user platform i am not really sure its the best choice.

first item that is a of a hassle is the need of the sonos app.  instead of simply connecting via bluetooth and then playing from a playlist on ones phone, they would need to download the app.  also of course sonos only runs on wifi for the most part.  my understanding is one will have to set up an acct each time to use the device and then they could essentially leave that acct on there and the next person would be unable to use that acct without knowing how to delete it.  ie adds quite a bit of complexation to the situation.

bottom line if one is to get a sound system and bluetooth speakers for the place, what do they go with?  

Thoughts?

Chris

This sounds like an excellent offer from the team at BP and I would LOVE to participate as Denver is probably one of the best markets to learn in considering the competitive nature.  Below are my answers to the four questions as well as a bit more about myself.  Look forward to hearing from you and watching the videos.

--> Investing Experience:  I have really only started considering being an investor for about 18 months now.  Since then, my partners in Texas along with my wife and I now have around 12 doors under our ownership, 2 more that we are completing a fix on and two more new builds with the plans to have 25 doors by years end. My wife and I are also beginning our first two STRs in winter park CO which has us pretty nervous and excited.

-->. What you want to learn:  this one is easy...I want to expand my knowledge to be quicker at identifying properties, learn to see what others may not, and how to look towards alternative financing options.  I want to understand how to best identify the "diamond in the rough" and how to do the right research to see where up and coming areas are and how to take the risk to enter them.

-->. Roadblocks :  here I would say is my fear still.  fear of putting my family in debt that I can't escape.  fear of dropping tons of money and making the mistakes.  I know that is how we learn and I teach this to my kids all the time, but I just need that one last push to move forward.

-->. About Me:

I am a PhD organic chemist and an MBA however I don't really consider myself "successful" b/c I spend all day working for "the man" and after reading up so much on real estate investing on this site etc, I realize how much I would love to make this my life. I am particularly interested in multifamily as the ROI is so much greater on multi than SF. I am also now interested in syndication as I have put money into two separate syndications recently with the goal to ask as many questions as possible and learn how to use brokers to find deals to analyze large programs and understand all the commercial loan types available.

Bottom line, I am more motivated than ever to learn.

bo vanecko