Leaders with emotional intelligence support innovation, risk-taking, and accountability while adapting to changes.

With interest rates on the rise, how have you adjusted your funding strategies? Are you finding more investors turning to private money lenders for quicker access to capital?

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.

It’s also worth understanding how they adjust pricing to adapt to changing market conditions and seasonality.

The key is analyzing each deal individually and adapting to changing market conditions. 

A 7 to 10 year goal allows you to learn, adapt, and grow your portfolio with confidence.In just a few years, you’ll be well on your way to achieving that financial freedom you’re dreaming about.

You gotta be constantly adapting and utilizing todays tools and techniques which are generally out in paperback about 6-12months after there no longer viable. 

. $1,520.00•Demo about 12” of walls and rip out entire shower pan and step •Install cement board on exposed wall •Apply RedGuard and Waterproof membrane to shower pan and up the exposed walls •Install new drain adapter in shower floor •Install new tiles provided by client Optional (just in case fixing shower pan does not fix the water leak) rebuild shower. costs extra $5100•Demo shower • New plumbing for a new fixture •Install cement board on exposed wall •Apply RedGuard and Waterproof membrane to shower pan and up the exposed walls •Install new drain adapter in shower floor •Install new tiles provided by client •Client provides plumbing fixture

Single family house will require you both to be creative and adaptable, but it is definitely possible. 

I’d love to hear about the strategies that have been successful for you and any advice on how to develop a strong, adaptable investment plan.Thanks for sharing your insights!