All Forum Posts by: Tanner Pile

@John Williams In COS STRs will get about 3x more than long term rates. And being near garden of the gods that I a great spot for an STR. You have to make sure you follow the STR permits laws though. Must have multi-family zoning and be 500+ feet away from another non-owner occupied STR or you must live in the property for 6 months out of the year.

If you're living in a separate dwelling this can work out great! 

Also, STR management can take a lot of time unless using a PM which can be 25%+ in COS. I have a local STR PM company of you would like to chat with them.

For doing an STR well the larger properties are best and it needs to stand out amongst competition to perform well.

STRs also have the seasonal aspect to it for the winter time in COS and long term rentals are steady. 

@Sara Valentine Furnished finder and Airbnb are priority first and then go to Zillow. They don't have anything specific for sorting by furnished spaces but there may be a check box to select for when sorting. 

@Brock Bernall 

As a rookie House hacking is the best for getting started has the lowest risk and best profit for a low down payment option. I did a study on this and surveyed 40 investors in CO. I can send you the video. 

@Steven Mendiola 

I would avoid doing any major construction on your first houses hack. Keep it to a bathroom refresh or adding a bedroom at max. Anything too much has larger room for error on your first property since you are new to real estate and learning how to work with contractors and tenants. 

@Meghan Begue, Welcome! We have a real estate investor meet up next Thursday in Colorado Springs if you can make it. We have about 20 investors show up to network and hear a guest speaker talk about real estate two times every month. I'll send you a DM!

@Taylor Wong,

Contact @Ryan Thomson about assumable properties. How much do you have for a down payment? 

@Edwin Lopez 

House hack to start the portfolio in real estate since living in the property you can do low down payments. 

For the business sell your services. This way you don't need to have upfront costs for a product to be sold. And this way you can start without having collateral or mixing personal finances. Not doing an investment of your own cash requires more sweat equity and hustle to make it successful. 

Welcome Chris! Looking forward to meeting at the real estate meet up!

 If you go to the get started tab and go to the bookstore you can find it there. 

@Shrikant Kakani 

In Colorado you need to do 25-30% to make long term rentals cash flow. Furnished mid and short term rentals will cash flow if managed correctly and you find the right location and property size. 

Co-living works well in Colorado because there is no cap on the amount of nonrelated people that can live together as Denver and COS are wanting more density with in the major cities. 

You have to get creative and make offers under asking price in CO to make properties work.