3 October 2024 | 4 replies
I was under the impression that I could not pay myself from the cash flow out of the self directed IRA.
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3 October 2024 | 2 replies
Starting early is smart, and I’m impressed!
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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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4 October 2024 | 13 replies
Our market has some pretty impressive buyer incentives in majority minority areas.
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4 October 2024 | 14 replies
I've been playing with it for the past week and am very impressed as well.
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14 October 2024 | 420 replies
And None of them can seem to verify a property they have actually bought.I watched a few of his videos and I was not impressed with the focus on over leveraging and using unsophisticated lenders in 2nd position while not using escrow or title.
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3 October 2024 | 46 replies
Is it about first impressions?
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1 October 2024 | 12 replies
His company is southern impression homes.
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3 October 2024 | 10 replies
Apparently it wasn't that big of deal since it didn't make an impression on me enough to remember I did that.
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1 October 2024 | 15 replies
It may indeed be beneficial to explore the option of a partial disposition to accurately reflect the change in the property's asset composition and optimize tax outcomes.