Quote from @Dave Hart: Fair warning BP friends.

We see when it's a group of friends they usually keep each other accountable with paying rent, but we get their parents information in case it's needed. 

If you have a property (SFH multi-family, apt, condo, etc) and you are open to/interested in owning it with others (friends, family, other investors) I wanna help you make it happen. 

I posted a while back asking if it was worth it or not and after BP community responses, research and friends that live in the surrounding area we finally did it.

We rent out one of the bedrooms to a friend and currently have a 7% interest rate (cash flow is still very much negative!). 

Hey there! I am newer to the Real Estate Investing community. Currently have one rental and looking for my second property. I have been working with a realtor in the past (when I bought my first property) who does not...

Avail), but Landlord studio is frankly not as intuitive or user friendly.

Just wanted to say hi and introduce myself.  

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'm no exactly new to BP but have never introduced myself or gotten involved.