All Forum Posts by: Marc Littmann

Hi Cheryl, 

I never actually pursued the nurse rental market, as the 2BR place I was considering for this fell through. 

Good luck with that market segment. I think it can be a good one for the right scenario. I also liked the idea of having medium term nurse rentals as a fallback for an airbnb strategy, should local laws or hoa rules eliminate short term rentals as an option. 

Anton,

Good post--thanks for the detail in your story. btw--I signed up recently for Dealcheck after reading about it first on this thread. Really liking the tool! would love a way to be able to include a target neighborhood or zip code in the search criteria section. Then the tool could send me email alerts after scanning the local MLS for listings that meet my investment criteria. That would be cool!

Marc Littmann

Longmont, CO

Looking at my first flip deal and could use help making sense of the numbers. A couple of questions come to mind:

4BR, 2BA Brick ranch property sits on more than 1/2 acre in growing city with strong economy and rapid home appreciation last 4 years, 1960s construction with original everything, lead paint included free of charge! :-). 

A great location. ~1600sq ft. has city water but also septic, as this was very rural until city grew up around this street. Rural street with massive lots already has handful of remodels with some listing close to $1M ARV.

From BP flip calculator:

$900,000.00 After Repair Value (

$460,000 List Price 

$200,000.00 Rehab Budget 

$150,000.00 Profit 

Estimated Repairs Total: $200,000.00

Could use input on overall deal, as well as typical $cost/ft to add a second floor to bring total to roughly 3,000 sq ft. with a 2nd floor master and bath, perhaps an office or extra BR upstairs as well. Also seeking input on septic costs, as am new to this. Realtor thought a cleanout on annual basis or every 2-3 years max. Very large lot allows for many options on rebuild, to expand horizontally and vertically. Not sure if 200k is in ballpark for remodel with second floor addition. 

I am looking to make an offer in next week or two if I decide to move forward.

I would love to chat with any mhp owners in Colorado. Been working through podcasts from Jefferson Lilly and Park Street Partners and really like their approach. I'd also appreciate getting in touch with anyone seeking MHP ownership in Colorado. 

hi Holly,

checking out older posts on Longmont and saw your listing for 228 Emery. saw it sold for $125,500 in early 2016 and now Zestimate has it at 255K. man longmont has gone up in value!

do you do much work up here in Longmont anymore?

thanks!

marc

A few months late to this thread, but wanted to throw in some resources I have been exploring on renting to traveling nurses. Seems like there is good potential--we might be moving into this niche market here in Boulder-Longmont, CO area for our first investment purchase in the next 90 days:

http://www.thegypsynurse.com/blog/travel-nurse-housing-5-tips-finding-short-term-furnished-housing/

https://www.fusionmedstaff.com/traveler/

TravelNurse Facebook group:

https://www.facebook.com/groups/travelnursehousing/about/

FurnishedFinder, a site for travelers and housing owners to connect on property listing to rent for their 13 week rotations:

https://www.furnishedfinder.com/blog/Top-7-conside... (Great post on what travel nurses are looking for in a short term rental)

Hope this helps!

Marc Littmann

HI Ana,

I am doing some research on getting into the 30-90 day travel nurse marketplace and have found some good resources. I will be purchasing a rental expressly for this purpose in the Boulder-Denver area here in Colorado. Seems like a good way to balance short term rentals with the ability to move into a 30+ day rental as seasons or local laws require.

Regarding what rates you can charge, I have no direct experience, but am going by only research into the experiences of others. Seems like many nurses work with a housing stipend and choose their own housing, oftentimes on a budget. So not sure if there is room for going above your local market rate for travel nurse renters.

Some good links here that I am reading tonight:

Additionally, I have been reading through these resources for more on travel nurse rentals:

http://www.thegypsynurse.com/blog/travel-nurse-housing-5-tips-finding-short-term-furnished-housing/

https://www.facebook.com/groups/travelnursehousing/about/

https://www.furnishedfinder.com/blog/.

Hope this helps!

Marc LIttmann

Just curious if this feature was ever added in to BP rental property calculators since 2015 was the last post in this thread? Would be great to be able to import bulk listings into the calculators and do some data mining with the latest capabilities of AI/machine learning!

Of course you would still need to supply some data manually, such as estimated repair costs, utilities, etc. But being able to comb through a ton of listings on just the basic data that could be imported from MLS would be amazing! Would help screen out a lot of noise, clearing the path for deeper analysis of the listings with greater potential. That would be worth the price of the Pro membership right there, at least to me!

Hi cary!

Welcome to BP! I enjoyed the meet up Monday night but didn't get a chance to meet you. I'm up the road a bit in Longmont.

Any specific areas you are interested in with real estate at this point?

Cheers!

Marc

Lots of fun, kevin! Was my first time attending one and was worth the trip down from longmont! Good conversations about carriage house rentals via vrbo and airbnb, and what local laws and HOA covenants have to say about short term rentals. Talked also about changes in RE in the wake of amendment 64.

Hope to catch everyone next time!

Marc