
7 October 2024 | 12 replies
What might help you for the next attempt is to read (BP's book written by yours truly--The Hands Off Investor), and network (join a community where investors discuss deals, trade advice and observations--coming soon will be Passive Pockets, an offshoot of BiggerPockets which recently acquired the popular passive investing group Left Field 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.

9 October 2024 | 15 replies
@Michael PetersRecommend exploring as many sources as possible to get referrals AND cross-reference them to get as much accurate information as possible.Check out NARPM.com, BP’s Property Manager Finder (BiggerPockets: The Real Estate Investing Social Network), etc.Also, encourage you to learn from the mistakes of others - by reading posts here on BiggerPockets about owners not having their expectations met by their current Property Management Company.

6 October 2024 | 8 replies
I self-manage and have a pretty efficient network of Excels to show this data.

5 October 2024 | 6 replies
I'd start with networking at your local REIAs and maybe a Bigger Pockets meetup once this storm blows by you.

5 October 2024 | 1 reply
It might be helpful to build a network of trusted professionals.

5 October 2024 | 0 replies
My goal is 1) to help you build the case (and financial model) for shared homeownership using real-life examples and 2) to get feedback from folks outside my network on the process i've created.

1 October 2024 | 2 replies
A 20' wide vacant 4-unit two story apartment building.

4 October 2024 | 27 replies
The income it can produce and the networking would be worth it.