All Forum Posts by: Lauren Sherer

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $585,000

House hacking my first SFH - airbnbing the basement that has a separate entrance and my partner pays me for rent

How did you finance this deal?

30 year loan

How did you add value to the deal?

Updated and furnished the basement and back patio to allow for a STR

the owner is required to live on site if an adu is built on the property!

I haven't paid for anything other than books but I'd recommend checking out Robuilt's youtube channel. I've learned a lot from him about the STR world

Hi Drew! Boulder is the best, I imagine your property will continue to appreciate so I hope you hang onto it for the long term! I think you'd see the best ROI if you converted it into a STR but that does require some energy on your part with furnishing it, getting professional photos done and finding a reliable cleaning crew.

I bought a SFH in Arvada at the end of '22 and airbnb my basement which is a separate entrance and it's done much better than I expected. Recently, we've experienced a bit of a lull in bookings which is probably due to seasonal fluctuations but I think a location like Boulder could do extremely well

Solid points Ben, thank you

My BIL/SIL had a custom built ADU done in their backyard in Oceanside and it was completed at the end of '22. The adu is 450 square feet and cost them $380 per square foot. They went back and forth on pricing with multitaskr for months and ultimately went with another contractor, someone that they felt they could trust.

They rented out the ADU on a mo to mo basis and are charging 2k/mo to the current tenant.

I can't help you answer the financing question as my SIL's parents loaned them the money for the build and they're paying them back over time.

ok! but that wasn't my question

Interesting, I didn't catch that on their site before- thank you! I'll give them a call back today to get more info

I'm considering building an ADU in my backyard for rental income but just found out the city of arvada (in colorado) would require the owner to live on site, either in the primary residence or in the ADU if an ADU was built on the property. I was curious if anyone has been able to find a legit way to get around this rule so that the owner isn't required to live on-site forever.

My initial goal was to airbnb the primary residence (its allowed in arvada even when owner does not live on site) when we move out and turn the ADU into a MTR/LTR or (STR potentially - would need to do more research on whether arvada would allow two STR's on the same property).

My long term goal is to continue buying real estate in Colorado, live at the property for at least a year to get the 30 year fixed loan and turn them into rentals when the time is right. I don't want to feel 'stuck' at this property in Arvada and it isn't necessarily somewhere my partner and I want to live long term.

Curious if anyone has any suggestions

I compare STR data on airdna's rentalizer tool against awning.com's data.

I also recommend watching the Robuilt video on youtube called 'How to analyze a Short-Term Rental investment property (Deal Analysis)' . His videos have been extremely helpful for me in learning the ins/outs of the STR process.