All Forum Posts by: Taylor Burns

@Chet Mostue,

Thank you for that tip! The more options I have to fill rooms the better 

@Steve K.,

Great advice here! Thank you for that link as well. That is super beneficial. I was not aware that I had to get that license. So thank you for the heads up! I was looking at Airbnb just because the profitability, but that is very true on having to do a lot more cleaning. 

Thank you!! 

Good morning BP! 

So I just closed on my first house! I have started fixing up minor things and painting interior to make everything look more modern. This is a 5 bed 3 bath ranch with finished basement. I have the master upstairs with it's own bathroom. Then I have 2 other rooms with a shared bathroom. This house is located about 15-20 minutes from DIA and 5-10 minutes from the UCHealth Anschutz medical campus.  

I have been kicking around different ways to rent this place out with me still living there. I am now looking to Airbnb my 3 upstairs bedrooms and then have the whole basement to live in. Before furnishing all of the upstairs rooms, I am looking for some help on this. 

Does anyone have advice on Airbnbing 3 bedrooms out of one home? Is this practicle or will it lower the value of the rooms dramatically? Also, looking for some advice on how in demand this area is for Airbnb, the zip code would be 80012. Any advice helps. I got into this home with an FHA loan so my PITI is $2380/month. Just looking to maximize my returns here so I can save up for down payment on property number 2. Any insight is much appreciated!

Thank you!! 

Bigger Pockets! 

I am curious about how the real estate market is down around Miami Florida. I am currently living in Denver Colorado and am thinking of packing up shop and moving down to Florida for a change. 

Does anyone have insight on some good zip codes or certain neighborhoods to be looking into? My first purchase would be a house hack type deal. I would buy a spot and get roommates while I got established down there. I am really looking for areas that have strong rental markets, where filling rooms would not be too hard. 

Any ideas help! I am not familiar with Miami at all or any of the surrounding areas. 

Thank you!! 

Thank you everyone! All of those comments were helpful to read. 

Very much appreciated! 

Good morning BP! 

I am still new into real estate investing. I am learning all I can and actively looking for my first deal as a house hack just south/east of Denver Colorado. 

I met with a financial advisor last week that a colleague had given my information to. It was with Northwestern Mutual. Before this meeting, I had never thought about even seeing a financial advisor. The guy I met with was not personally in real estate but worked with a lot of large investors. 

I am just looking for some input to see if a financial advisor is a good move to just getting started and if so, should I look for one that is actively doing REI? I am just curious to see others input on this topic. Would it be beneficial to get this help, or is it not necessary? 

Thank you!! 

@Bryan Nykerk,

Thank you for hopping in here! I think that is some great advice especially coming from someone doing it in the Denver area. Doing the Airbnb thing has not been high on my list, but after looking at properties for a couple months now and seeing the numbers, it may be worth re-visiting. Do you look for houses with two kitchens? Or is this something you do as a renovation? 

Running the short term rental could durastically increase profits with not too much extra work since I would be living at the residence.

Thank you again for the input! 

@Peter Vietor:

I was looking at this option, however, the basement room was very large. The room I was planning on living in was super small. I wanted to take the super small room to maximize my rental profits and make the numbers work better.

Thank you for the insight though! 

@Jason D. & @Michael Ablan:

Thank you both!! 

Thank you for the replies! 

@Michael Ablan: The washer and dryer are in the room set up as sort of a second closet. There is a curtain then a place for a washer and dryer right by the furnace and hot water heater, so creating it's own room would not work here. 

@Jason D.: I would be living in one room, then renting out the 2 other rooms to random people. So there is 3 bedrooms total. I am just not sure if the value of that room will go down since myself and the other renter will always have to go inside that room to do laundry