All Forum Posts by: Kelly Creamer

Hi Eric:

Are you looking to streamline the remodel/construction process? If, so, are you flipping the properties or brrr?

I have templates and checklists I’m happy to share. If you want to give me some specifics with anything on the rehab side (managing subs, schedules, job costing estimating etc) , feel free to ask!

 Thank you for the suggestions! That is exactly what they want. My only current debt is the mortgage on the rental, so I don't really have a way to reduce debts short of paying that one down. My goal is to increase income, but that won't happen before i close on my new one. 

@rick - i am in Colorado. I think i will just have to realize that traditional lenders will want to see some history. Understandable. The next purchase, i will do a little bit more up-front shopping to find a loan that will be more favorable to short term rentals.

Thank you to everyone for the feedback/suggestions. I really like Chris' suggestion of renting it out at a premium and allowing the renter to sublet. I am going to look into that, but will likely end up just having a regular tenant with a 12 month lease since I need it in place pretty quickly. 

Thank you for confirming my own intuition. You wouldn't believe how many people suggested it. One thought i had was to lease it to a property manager and have them airbnb it and give me a cut. but it all seems too complicated. As a first time landlord, i think the 12-month lease might just be the best thing for me anyway..start slow. 

I am purchasing a new condo and am hoping to rent out my current condo. This will be my first foray into being a landlord. One of the requirements the lender has is that I have a 12 month lease to meet income requirements. Here is the issue. My monthly out of pocket expenses are around $1,050. I can long term rent for 1250 per month, but I live at the base of a ski resort. Winters are high seasons, and short-term rentals do very well in summer too. Most people in my complex say that April is the one month where occupancy is very low.  I can gross $2500-3500 per month on Airbnb for my unit for 8-9 month of the year and can likely make $1300-1800 during the remaining 3-4 months.

If I do a 12 month lease, it would start on Dec 1st, so i would entirely miss ski season this year. 

Several people have suggested that i just have a friend sign a 12 month lease and then i just put it on AirBNB. I would have a difficult time doing this. I am rule follower :). 

Do I have any options? What would be the consequences of having a friend sign a lease, then putting it on AirBNB. Any suggestions would be appreciated!