All Forum Posts by: Brian T.

Hi @Jason L. I am in a similar situation, looking for better long term financing for property in Breckenridge. I'm attempting to refinance a condo to a 30yr term right now and running into lots of roadblocks with greater than 35% commercial space in the building. 

I assume your local portfolio lender is First Bank? Have you heard of any other portfolio lenders who lend in Colorado offering rates other than ARM's for this type of property? I am a long term investor and wary of the interest rate environment down the road for ARM's.

Honestly, moving into a new property for a year to get an owner occupant mortgage has merit if your lifestyle permits, especially if you can perform rehab at the same time.

Hi @Jake Sklanka, thanks for the advice! If you want to message me the contact info I would appreciate it.

Thanks @Sam Amir, I did contact them earlier. Looks like they'd just be interested in the full service management, they told me cleaning only was not an option. I'll keep looking!

Hi all, I have been short term vacation renting my condo in Breck for about two years, and am looking for anyone else with the same strategy in Breckenridge Colorado (or Dillon, Silverthorne, Keystone, Frisco, Blue River, Copper Mountain or any Summmit County, CO location) who has a great referral for a professional cleaning or housekeeping service. I would need cleaners for a small short term rental property (1 bedroom condo) in Breck who can do a full service turn at each checkout. I know this can be very challenging part of the business, so anyone who has a really good long term experience to share (or knows who to avoid) would be greatly appreciated. Thanks in advance for any recommendations!

Brian

Thanks a lot guys, I will be in touch to follow up.

Hi, looking to expand into vacation rentals and I have been searching the forums for a good reference to a short term rental contract in Colorado, but have not discovered anything yet. Does anyone have a vacation rental contract that they would be willing to share, or know of a reliable source for one that applies to the state of Colorado? If anyone can direct me to a specific law firm or attorney that specializes in that sort of document/business, I would appreciate that as well! It would be used for one property, condo unit, self managed.

Thanks!

That's great news @Linda Weygant. I appreciate the feedback...and the fact that there is beer involved. Frankly, I attended a few networking events while I was at the university, and found them a bit awkward and of limited value, but you all sound like a good bunch so far.

Thanks a lot @Jean Bolger and @Walker Hinshaw. I'm looking forward to becoming more involved. Have you guys been to the meetups and are they productive?

Hello people! I would like to introduce myself to the community in Colorado - I've been absorbing BP info for a while now, and want to become more involved. I live in Denver, Colorado and work full time as a project manager for a due diligence company focusing on the multifamily HUD market nationwide. On the side I operate one year round rental unit that used to be my primary residence, a condo in Breckenridge, and run a home repair/remodel operation in my spare time.

My long term goal is to own a portfolio of single family and small multifamily properties (up to fourplexes) in Colorado as buy and hold year round rentals. I'd like to acquire as many as I can manage on my own, then possibly expand with a bigger team. Since I like fixing places up, I'd also be into some fix and flip opportunities. Eventually, I am interested in obtaining my RE license in CO.

I became involved in real estate through the purchase of the condo, which I completed a full renovation on before moving to Denver to complete school. On the way people saw my work, and started to ask for contracting help, which I've learned by doing. I never really intended to be a landlord, but I really enjoy it, and want to expand on this side project. I'm addicted to the lure of undervalued assets, and love the potential that real estate presents for profit through upgrading and also the process of neighborhood change.

I want to be honest with you guys, my intro to this business was from buying the only place I own at the top of the last market cycle (2007). Pretty much just looking for a place to live, and being a little naive, I probably paid way more than I should have. Although it's always cash flowed a little for me after I decided to rent it, I don't think the value's bounced back to this day. It was not the best decision I could have made, and I've always been a bit regretful about it and gun shy about acquiring more real estate...but I'm determined to stack success on top of that experience.

Since then my understanding of real estate has grown, but I still have a ton to learn. As I get to know you guys better, I'd like to eventually be able to add value to those who have accomplished my long term goals. I know the Denver market is sort of bonkers right now, and I'm willing to be patient as the cycle levels off or turns.

If anyone has any questions that I might be able to help you with, please throw them my way, I want to be able to give back to those who might need me!