All Forum Posts by: Clinton J. Andersen

I know what you're thinking... not going to happen. However, I signed on my house and locked in that price about 2.5 years ago. COVID issues, permitting issues, supply issues, all compounded the delay to last week when I closed. The house was appraised at $110k over purchase price. Tried Ent, but they denied. My brother (realtor in another State) said to keep trying. He had to go to several before he was approved for a similar situation. So, I figured I'd ask here if anybody knew of somebody who might over somebody else. Thank you!

0 Votes

Denver, Colorado

Quote from @David Mackin:

Welcome @Clinton J. Andersen!

Glad to have you on here! I started in investing with a house hack, and it is now a LTR. Like you, I'm hoping to jump into STR for my next few deals.

I think you might find value in going to some of the in-person meetups in the Denver area and connect with a lot of folks like yourself!

I find it nice to make connections and learn from people's successes and failures before really diving in myself.

Excited to see more of you on here!

Thanks, David! I’ve only recently begun to look at going to some of the events, and boot camps even, but nothing has worked out with my schedule so far. But the moment I can I will definitely go! It’s a recurring theme from everything that I’ve listened to so I’ll make it happen. :-)

0 Votes

Denver, Colorado

Quote from @Ben Einspahr:

@Clinton J. Andersen. You have picked an excellent place to start! Tower and 64th will be a great location. That seems to be where the path of progress is going (from Denver out to the airport). The only challenge I see with the business plan is renting property as a STR if it is not your primary residence. You can find more information about Denver's STR rules and regs using this link. But, that location is excellent for long term rentals as well. DIA employs a lot of people and those people need a place to live.

So my strategy is very similar to @Kayla Givens. My wife and I buy SFH's with some form of separate income suite/ mother-in-law/ ADU that gives us the privacy we are looking for. We live in the main area of the house and rent out the mother-in-law as a STR. After moving out we will either rent the entire home as STR (if city rules and regs allow) or rent as a LTR. Then.. rinse and repeat.

Best of Luck!

Hey Ben, thanks for the link! Yeah, I’ve also been waiting for my CC&R’s to see if they allow that within the community (but the seller doesn’t seem to be too keen to produce them). That said, I’m glad to hear the rental market looks good for LTRs. That’s been the backup plan all along but, admittedly, the only research I’ve done is looking at the apartment complex next door to see what they’re charging.

1 Vote

Denver, Colorado

Quote from @Kayla Givens:

Hey, @Clinton J. Andersen! Welcome to the BP Forums - lots of knowledge and expertise at your fingertips here! Congrats on the place in Denver - I can only imagine what a pain it's been waiting for the property to be built but I'm sure it will pay off (literally) once it's up and running as an STR!

My fiancè and I got started with a house hack in Englewood. Our approach was a bit unique as we purchased the property to turn it into a group living home, which we did shortly after moving into the property! The cool thing about our model is that we charge a typical rental rate per bed instead of per room - it is common for group living situations to have at least one roommate per room. PLUS, we were able to marry two things we're very passionate about - real estate investing and helping people :) We've rinsed and repeated this model and now have three properties under our belt and are circling in on a quadplex that we will use to do the same.

Very cool about your wedding business! Is that something you could incorporate into your real estate goals? I have a contact out in Vermont that owns a bit of land and they absolutely crush it hosting weddings!

Hey Kayla! That’s awesome, being able to merge the two! Plus the fact you were able to expand that concept means you must’ve been on to something!

And, yes. I have a few ideas around the whole wedding world. As soon as I can get this STR underway it will certainly be something I incorporate into future properties in one of several ways. :-)

1 Vote

Denver, Colorado

Hello! It’s actually a new build. It was supposed to be done in 7-9 months. Now, two years later, they’re working on the drying-in of the mechanical rooms. So, at the very least, I’ll have some equity once built!

0 Votes

Denver, Colorado

1. Hello! I'm Clinton and I currently live in Commerce City. I have a townhouse in Denver (Tower and 64th) that's been under build for the last two years (tell me about it) that I will hopefully STR when it's done. After that, I want to look at markets all over the place and acquire multiple STRs and then some long term holds.

2. My biggest goals for joining BiggerPockets is to discover the things people are doing, how they’re doing it, and to feed the drive to keep pushing forward!

3. I own my own wedding business as a side hustle!

3 Votes

Denver, Colorado

All Forum Posts by: Clinton J. Andersen

Clinton J. Andersen has started 2 posts and replied 7 times.

Post: HELOC on New Build

Post: HELOC on New Build

Post: Long Time Listener, First Time Caller

Post: Long Time Listener, First Time Caller

Post: Long Time Listener, First Time Caller

Post: Long Time Listener, First Time Caller

Post: Long Time Listener, First Time Caller