All Forum Posts by: Jonathan Perham

Thanks for the referral on the licensing, @Herb Dorn!

Hi BP Denver!

I'm currently considering purchasing a 3 bed/2 bath home in Sunnyside (north side near I-70). I travel for work which can be a challenge but I'm trying to leverage my time away to generate some cashflow. 

I plan on doing airbnb/short term rental 2-3 weeks per month, likely with a service company that handles a majority of the day-to-day as far as turnover and renter management. My understanding is that this would be fine legally since it is my primary residence.

Does anyone have any experience doing short term rentals in this area?

Any recommendations on management companies in the area?

Any info on estimating income, tips/tricks, etc are welcome!

Thanks!

Jon

@Tanner Crawley

Thanks for the response, Tanner! I had thought of that and read the recent article about favorable lending/similar that Denver is investigating to incentivize ADU development. It sounds interesting but potentially cost prohibitive or not having a great return for the cost of the adu build.

Do you have any examples or know of anyone that has purchased a sfh and built an adu successfully for cash flow?

@Julie Hill

I was in Irvine and Huntington Beach for two years before moving up to San Francisco - I'm much more excited about Denver. Thanks for the tip on West Colfax! I added that to my list of potentials after checking it out a bit. It looks like a location with a lot to offer.

@Kevin Grinstead

Highlands Meaning Highlands Ranch or another neighborhood in the area - I'm struggling a bit with the neighborhoods, towns and Denver areas. Its nice to not feel limited but it is a lot to keep track of. Finding a Duplex in my price range seems a little tough. The lender I worked with for FHA on first pass told me they wouldn't consider it because someday I may have to make the full mortgage payment. That may be just FHA.

@James Carlson

Thanks for the Welcome, James! I'm very excited about it. SF is great but Denver will be a better fit. 

I had been avoiding the BRRR strategy but I'm more inclined to go that direction in terms of upside and purchasing power for properties I wouldn't be able to afford at renovated/market pricing. I'm working on the lending - I'm pre qualed with one and will finish the process with a few others over the next couple weeks for options.

Thanks for the ideas on locations!

Hi Dan - 

I had never heard of this mortgage product - thanks for the tip. It looks like I would be a good option for saving the FHA for further down the line and not being confined to the smaller pool of areas where there is no income limits.

As for locations - I've been looking in Centennial, Englewood, Arvada, Berkeley for the time being. Some of those would be more favorable for the HomeReady program based on the income requirements.

Thanks for the welcome and suggestion!

Hi BP folks - I'm new to BP and new to real estate investing. I work in sales in the construction industry and will be relocating to the Denver area in the next few months. Hoping to make some connections through BP for learning groups, REIAs, etc and of course get more involved in BP. I'm moving from San Francisco - so Denver may be hot but at least I have the chance to purchase in the area which is exciting.

My current plan is to use FHA to move into a rehab/ready move in for a house hack to eliminate my housing expense and hopefully get a little cashflow. I'd prefer a duplex/multi but it seems more realistic to focus on SFH with roommates at my price point ($400k+/-). Longer term I plan to move into multi-family to start generating cash flow for future investments/replacing W-2 income.

I've spoken with a few real estate agents but wanted to ask the BP Denver folks for some advice:

-What are some good areas in Denver metro that people in late 20's-early 30's like to rent in?

-If anyone has any suggestions, I'd appreciate any insights.

Look forward to getting to know the BP community and especially the Colorado folks.

Thanks,

Jon