House Hacking / Rental Arbitrage / Rental Solution

Real Estate Agent · Queen Creek, AZ · Member since 2022 · 1 post · 0 votes

Hello All!

My sister is in a very tough position in life and she is no longer safe at home, so I want to help her find an affordable place to live immediately and help her find a remote job. She currently lives in Arvada Colorado and I'm trying to think of anything I can do to help her and want to think of all options. Does anyone know if rental arbitrage is a thing in that area? I don't know the real estate market there and am desperate to help figure out options for her. She has 2 beautiful daughters, 2 dogs and 2 cats and she has been a stay at home mom for the last 3 years. So she will be completely starting over. If anyone has any resources for me to help her I'd be so appreciative! Thank you!

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Miller McSwainPro Member

Investor · Colorado Springs, CO · Member since 2018 · 261 posts · 234 votes

Hey Niki, I'm sorry to hear about that situation!

So it sounds like your main objective is to find her an affordable place to live. If by rental arbitrage you mean renting a place from a landlord and subleasing to folks on a short-term basis to make a profit, then I don't think that is going to help your objective much.

Rental Arbitrage can be a great way to get some cash flow with little out-of-pocket costs, but I'm not so sure that the strategy would lend well if she is also living in the rental with her kids and pets.

If she is low on cash, perhaps she can find a cheaper place for her family to rent and live first. Then she can save some some cash and rent a separate unit to arbitrage (save enough for security deposit, first month's rent, and furnishings).

I recently looked into rental arbitrage in Denver, and I ultimately decided to look elsewhere. And then I ultimately decided to abandon the strategy in favor of house-hacking another property; HOWEVER, you sister may not have the cash to house-hack.
Denver and surrounding areas are very strict about short-term rentals, with a few exceptions (I believe Arvada is one of those exceptions). If you are interested in learning about which areas of Denver may lend well to short-term rentals, shoot me a DM. I have a contact that knows all about the Denver STR markets.

Good luck Niki!

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Miller McSwainPro Member
Investor · Colorado Springs, CO · Member since 2018 · 261 posts · 234 votes
3y
Hey Niki, I'm sorry to hear about that situation!

So it sounds like your main objective is to find her an affordable place to live. If by rental arbitrage you mean renting a place from a landlord and subleasing to folks on a short-term basis to make a profit, then I don't think that is going to help your objective much.

Rental Arbitrage can be a great way to get some cash flow with little out-of-pocket costs, but I'm not so sure that the strategy would lend well if she is also living in the rental with her kids and pets.

If she is low on cash, perhaps she can find a cheaper place for her family to rent and live first. Then she can save some some cash and rent a separate unit to arbitrage (save enough for security deposit, first month's rent, and furnishings).

I recently looked into rental arbitrage in Denver, and I ultimately decided to look elsewhere. And then I ultimately decided to abandon the strategy in favor of house-hacking another property; HOWEVER, you sister may not have the cash to house-hack.
Denver and surrounding areas are very strict about short-term rentals, with a few exceptions (I believe Arvada is one of those exceptions). If you are interested in learning about which areas of Denver may lend well to short-term rentals, shoot me a DM. I have a contact that knows all about the Denver STR markets.

Good luck Niki!
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Ryan ThomsonBusiness Member
Real Estate Agent · Colorado Springs, CO · Member since 2018 · 1k+ posts · 1k+ votes
3y
@Niki Ann Bell if you are trying to do rental arbitrage you'll have to get permission from the landlord/owner of the property. It could work, just takes some effort to find the right owner.
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Tanner PileBusiness Member
Real Estate Broker · Colorado Springs, CO · Member since 2019 · 389 posts · 326 votes
3y
@Niki Ann Bell rental arbitrage is a possibility in the Arvada area. As long as the landlord is okay with the operation it will work out. @Miller McSwain gave some great advice for arbitrage in Denver!
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