Investing for Short Term Rental in Denver
Hello BP Community,
I'm looking to invest in a property to use as a short term rental.
I've been hosting on Airbnb for about the last two years and have qualified for Superhost status (only %7 of listings) with more than 150 positive reviews. I've rented out an entire condo in SE Denver and have managed to do so legally and with license. I've done so because I live with and take care of my father, but my "permanent address" is the condo.
This condo is owned free and clear (not %100 mine), and would work better as a long term rental. I have some considerable cash to invest and have been scouting properties for months in Denver. I've developed a pretty solid criteria of what I'm looking for, and am happy to share with interested parties.
What I lack is a credit score (Denver native, but lived abroad for 10 years, and never have owned a credit card or taken a loan.) I love real estate, and I love hosting, and am keen on making some connections on BP to help take the next step into my next property.
Beyond being a hobby, Airbnb has so thoroughly juiced the returns on my condo (appx 2.5X long-term) that it only makes sense to try and parlay this strategy into a bigger and better play. Owning my place free and clear means there is no present leverage being exerted. I'm open and ready for any leads on partners, and places, STR friendly buildings, and financing options. Happy to do the hosting myself, and I love this chance to be creative with this project from the very start.
Holler if you hear me, BP!