William Collins
Success update and advice sought
5 October 2024 | 9 replies
Here's a quick summary:Manchester: STR demand could come from business travelers, especially near Hartford.Canton: Lower demand unless near outdoor recreation areas.Southington: Strong option with year-round tourists (skiing, Lake Compounce).Bristol: Good potential with ESPN and tourist attractions.Berlin: May have less demand unless near major highways.Focus on properties near attractions or business centers to keep occupancy high.
Meghan Begue
Is Colorado's Multifamily Market Still a Good Bet for New Investors?
6 October 2024 | 12 replies
However, there are some challenges to keep in mind:Regulatory Variations: Regulations can vary widely between locations and are constantly evolving.Active Management: STRs require more hands-on management for guest turnover and communication.Additional Costs: Don’t forget about expenses for furnishings, cleaning, and possibly hiring a property manager.If you’re looking for STR-friendly areas, consider these locations, as others can be too expensive to consider, such as Snowmass Village or Aspen:Breckenridge: The most visited ski resort in North America, attracting around 3 million tourists each year.Steamboat Springs: A popular year-round destination for winter sports and summer activities.Keystone: Great for those wanting a less crowded resort experience.Divide & Florissant: Charming mountain towns close to Colorado Springs.Fairplay: Just 30 minutes south of Breckenridge, with an impressive 82% Airbnb occupancy rate.Cripple Creek: A former mining town now known for casinos and outdoor activities.Park County: Very Airbnb-friendly, though regulations may change.Here are some strategies to help you succeed in the STR market:Hybrid Model: Consider using some units for STRs and others for long-term rentals to balance income.Research Local Regulations: Always check the current rules in your target areas before investing.Year-Round Appeal: Focus on locations that attract visitors in all seasons.Quality Furnishings: Invest in quality to justify higher nightly rates and attract better guests.Dynamic Pricing: Use pricing strategies to maximize revenue during peak seasons while maintaining occupancy in the off-season.Stay Flexible: Be ready to adapt your strategy as the market and regulations change.While Colorado’s STR market offers exciting opportunities, it’s essential to approach it strategically.
Chris Seveney
Why I Love Real Estate: The Adventures of Finding Buried Bodies
30 September 2024 | 12 replies
So I told him lets let them mine the clay but leave us level ground and at the least we can gravel it and do out door storage :)
Albert Johnson
Tenant wants to remove light fixture
2 October 2024 | 10 replies
Since the light fixture is expensive and the tenants have clearly already done some damage to it (by leaving it outdoors), you can definitely bill them for it.
Bacongo Sandou Cisse
Young guy (25) looking to relocate to a market where I can start investing
4 October 2024 | 39 replies
Are there other factors you might need to consider such as major airports, weather, culture, outdoor recreation etc...
Rob Bergeron
Elizabethtown announces plans for 10,000-seat outdoor concert venue
26 September 2024 | 0 replies
We keep getting more cool things in the area! Keep it coming!
Kevin Mirise
High cashflow Lodging house, walkable beach community S of Boston
1 October 2024 | 2 replies
For both tenant and landlord peace of mind, the property had an extensive video surveillance and security DVR system already installed by the prior owner, which covers outdoor areas and indoor common areas and records 24/7/365, as well as sensors for excess dB noise levels.
Lotus Eli
Innovative Strategies for Maximizing ROI in Short-Term Rentals
30 September 2024 | 46 replies
Here are a few thoughts based on my experience:Unique Amenities:Outdoor space: If you can create a cozy outdoor area with a fire pit, string lights, or a hot tub, it can set your listing apart.
Wendy Jiang
Tenants Complaint re Mold
27 September 2024 | 3 replies
The key when testing mold is you test outdoors vs indoors and if there are variations of mold indoors then that is a sign there could be a problemMost people order a Home Depot test and are like - see there is mold.
Mary Light
Hello BiggerPockets! New PRO here
26 September 2024 | 5 replies
I'm particularly passionate about [ starting my own business on flipping houses..Outside of real estate, I enjoy spending time w my kids ,, i love the outdoors alot and I enjoy making family memories .Excited to learn and connect with you all!