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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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3 October 2024 | 3 replies
Option A, we list at this price, Option B, if you want to sell at a discount today I have a list of cash buyers that will pay 60% of that price, Option C, if you will leave the existing financing in place and sell it Sub2, then some of those cash buyers will pay 70% of Option A, or some variation of that.I guess it depends on what city your are in.
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2 October 2024 | 6 replies
You'll likely see variation (even within a zip code) based on condition even though all might be 3 bedroom 1 bath homes (as an example).
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2 October 2024 | 13 replies
It’s important to focus on annual cash flow rather than stressing over monthly variations.
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2 October 2024 | 12 replies
There are infinite variations.
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28 September 2024 | 8 replies
There could be major variation - for example, once you move out, do you still pay utilities?
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1 October 2024 | 16 replies
Make sure you include all the variations of search keywords that a prospect is likely to use when they're looking for a unit such as yours in the text; and use the most popular keyword in your headline.The second thing is the copy itself, that is, the written content of your ads.
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27 September 2024 | 3 replies
The key when testing mold is you test outdoors vs indoors and if there are variations of mold indoors then that is a sign there could be a problemMost people order a Home Depot test and are like - see there is mold.
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27 September 2024 | 12 replies
Of course, there may be be a few variations state to state but this is basically what you need to know.
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25 September 2024 | 37 replies
Using just those variations of closing costs, Lender 1's closing costs would be (not counting our 2 points) $2595.