All Forum Posts by: Zeona McIntyre

Hi @Batool Haider, 

One thing to keep in mind about Arvada, is that they have a rule where you can only short-term rent 240 days a year. This means you can medium-term or month-to-month rent it the other days but you won't see the true returns predicted due to this restriction. Neighboring Westminister does not have restrictions and if you get a place close to Denver, it can make excellent returns. Let me know if you need help looking in these markets!

Hi @Stephanie Gothart, since @Brandon Hardiman mentioned that short-term is technically not legal and @Steve Stinson mentioned that Hunstville is common with the short-term workforce, you may want to look into Medium-Term or month-to-month rentals. These are still furnished rentals, but being longer usually helps you avoid taxes, license requirements, and laws. The tenants still pay 1.5x market rate and its lower maintenance with less turnover and expenses than short-term. 

I have usually created deals by simply furnishing the units and offering them on a short-term basis, whether is was a few nights or month to month based on the laws. It can be tricky to cash flow on long-term rentals lately with sky high prices but medium term rentals can bring in 1.5x the market rent and short-term 2x+. Easy peasy.

Hey Saugat, congrats on getting started! A triplex for your first place is a large undertaking. 

I am also in the short-term rental space and a few years back got curious about mobile home parks. I took a two-day workshop and determined like @Chad McMahan shared, that I am not interested in going that route. While I agree that it can be great for cash flow, it is a departure from traditional real estate and can have a lot of headaches. If you want to go that route, I suggest investing in a syndication like Brandon's Open Door Capital where the experts are handling the hassles. 

Since you and your girlfriend are about to get super experienced in short-term, I recommend sticking to that strategy but exploring different markets to diversify. If you are curious about which markets, it depends on your price point so don't hesitate to reach out. 

If you want to jump into apartments, I suggest partnering with someone experienced in adding valuing and managing those buildings. Good luck!

I'm not in the area but a good place to find cleaners is TaskRabbit or local Investor Facebook groups. 

If you can't build on the land, it may not be a great investment in the long run, but who knows. If you want to check out what it could rent for, you could see what others are offering on HipCamp. 

Hey Colton, 

I just want to start by saying congratulations! You are young and you took a leap which landed you in a fantastic property, it sounds like. I understand the feeling of wanting to optimize all of your investment capital and yet I think it is important to move slowly to make sure it goes to a good place. 

First thing, is I recommend seeing if you can be preapproved for a loan. Lenders usually like to see two years of income at a job, but you can also usually get a P&L loan based on this years earning but the interest rate will be high. Then I suggest getting the casita up on airbnb, to maximize what you already have before getting something new. 

Then based on what you are preapproved for or if you need to wait to qualify, you can pick a market. 

Hey @Frank Agyeman-Duah, 

My co-author in Bigger Pockets upcoming book on Medium-Term Rentals sells a furnishing list, that makes it dummy proof to just order and set up. I'll reach out to connect you. 

Hey @Lauren Sherer

If you are planning to househack and use airbnb, the best is to find an top down, unofficial duplex in unincorporated Adams County. There are no limits on Airbnb there and occupancy limits are lax. Ideally you want 4+ bedrooms, over 2000 sq ft. The basic formula is 3 rooms pay the mortgage, the 4th room is yours and any extras are cash flow. Of course, it can be a little different if you are Airbnbing. Often the airbnb unit, even if it is small and in the basement, can pay the full mortgage. Happy to help you find "the one"!

Buying abroad is really tricky. Language barriers, 100 year leases, no foreign ownership. I don't think I would go for it unless you were planning to live here full or most of the time. Portugal has a golden visa option that is pretty appealing but it is mostly for folks wanting to leave the US. 

I have managed Short Term Rentals in Spain, Greece. Mexico, and South Africa (as well as the US) and I have experienced the best occupancy in the US. Abroad is incredibly seasonal, likely because Europe made it illegal to take kids out of school outside of holidays. 

If it was me, I would invest in the US and use that money to travel wherever.