All Forum Posts by: Eric Honas

Thank you everyone for your input! After speaking with my wife, we plan on buying a new primary house in or near Aurora first and renting out our current Aurora home. We will get the HELOC set up on the current property and then start looking for deals to invest in. It's a slower route but it feels the best to us!

Thanks for the input fellas! I will get the ball rolling on the HELOC

Hello everyone!

My wife and I are eager to buy our first rental property but we just don't know where to start. I have read a couple of the BP books and working through a few more. We have 160k of equity in the house we currently live in so we are thinking we could useca HELOC to fuel a couple investment properties. We are both born and raised in Colorado and pueblo seems to be very interesting as far as rental properties go.

Any and all advice is appreciated!!

Thank you all for the input!

Thank you for the input!

I didn't think of how challenging it may be to find good tenants. Good to know! 

As far as the activities available in the area, it seems like most of them would be seasonal. Once winter hits I'm assuming the water activities die down quite a bit. 

I worry about the vacancy rate with an airbnb versus the steady income of a signed lease Pueblo specifically. 

Hello all!

This is my first BP post! I look forward to anyone's insight on this.

I am looking to take the plunge on investing and have been looking at Pueblo, CO for some time now. I know that as prices rise in Colorado Springs people are moving further south to avoid the price hike, and Pueblo offers much less expensive options. I have a friend that recently purchased a 6 bed 3 bath property there and uses it as a short term place via Airbnb. He has reportedly made 3x his mortgage payment in the first month and is trying to convince me that this is the way to go if I invest in Pueblo.

Here are my issues with this. I am a Denver, Colorado native and Pueblo has never really been a "vacation" place and that's how I see Airbnb. We use companies like that to find cheaper options while on vacation rather than a resort. So what is bring people to Pueblo, CO to spend time off of work? If people are leaving CO Springs to move to Pueblo then they are looking to relocate, not rent an Airbnb and hang out for a weekend. 

Am I missing something or is long term rental the better option here?