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3 October 2024 | 12 replies
There are several listings of median house prices and you can go to those closet to your target price before you talk to people.
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4 October 2024 | 11 replies
Here’s our OPINION for the Metro Detroit market (use as a template for your target area!)
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7 October 2024 | 190 replies
It's had two episodes of 10x'ing and it still hasn't achieved adoption by the RIA's.
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4 October 2024 | 4 replies
Big fan of Dallas & Houston -- what's your target annual returns on an investment property?
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4 October 2024 | 12 replies
We done deals in FL, the 1% rule is definitely achievable assuming you're planning to do short/mid/long term rentals.
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4 October 2024 | 6 replies
The market is tight now, but if you purchase right you should be able to achieve a levered IRR of 15%.
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4 October 2024 | 6 replies
Your plan sounds well-thought-out and strategic, with a clear path to building wealth and achieving your goals of retirement and generational wealth.
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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.
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6 October 2024 | 33 replies
Hi @Darnell Robinson I think a critical issue is your target market.
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3 October 2024 | 3 replies
Target affordable rental options for stable tenants.