Yes.A well-maintained investment attracts better renters who pay on time, stay longer, and take good care of the property.

The U.S. economy added more jobs than expected, which signals robust economic activity and pressures the Federal Reserve to maintain higher interest rates to combat inflation.

The downside is that 10% of the people do 90% of the work to maintain the community.  

There were at least 6 or 7 prospective buyers in the basement at the time and not one corrected him.

Those who strike the correct in between balance are generally those who are most successful.

With a free and clear rental property and a solid equity position, you're well-positioned to leverage that equity effectively.Evaluating Your OptionsCash-Out Refinance:Given that you want to maintain a conservative leverage ratio of 50%, pulling out $110,000 from your property makes sense.

However, Mario dropped us of at main checkin which was not correct for BPCon.  

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.

I agree with telling your insurance agency you are going to have a STR and get the correct insurance.I personally think 1 million liability is plenty.

We truly believe in fostering community and providing affordable housing while maintaining a high standard of ethical management and resident well-being.We are definitely looking into growth opportunities for our properties here in Norfolk, but we’re taking a careful and steady approach to ensure we can continue delivering quality for our residents.