All Forum Posts by: Paige Kelsey

Turn Key Vacation Rental Downtown Colorado Springs

We are selling turn key Vacation Rentals in Colorado Springs. This home is in Downtown Colorado Springs. It is a complete remodel down to the studs with everything done by the book and all permits pulled. We have had this home on VRBO, Homeaway and Airbnb for over a year and it has great reviews and has been killing it. All of the contents of the home would be sold with the home including all future rental contracts, reviews, as well as current listings.  We have all the cleaning crews, emergency maintenance people for you and you can run this from ANYWHERE or we are happy to run this for you. I have run this through the BP calculators for you to take a look at and am including links for you to check out the listing and the reviews on Airbnb and Homeaway. This home, even with a mortgage will cashflow over 19%. Please note, I have included everything as expenses from internet to water, electric, lawn car/ snow removal and listing costs on Homeaway 

Please call me or message me on BP if you would like to take a look. Of note- check out the calendars- look at how much we have booked this far out:) Check us out! 

This one is going to go fast,

Take a look now!!

Thanks,

Paige 7193213404

https://www.biggerpockets.com/calculators/shared/3...

https://www.homeaway.com/vacation-rental/p3838296

https://www.airbnb.com/rooms/4536286

whats your asking

Hi Guys,

I live in Colorado Springs and I DO not agree. We have 2 going on 3 vacation rentals and are on Homeaway/VRBO and airbnb. Knock on wood we have had great experiences with all.  I honestly don't know how much longer the vacation rental thing can hold though. Everyone seems to want in. It is a great deal but you also have to be able to make it through the low season and just cover your mortgages. I personally see no need for a property manager. DO IT YOURSELF and save yourself some capital! It is super easy. As long as you have a good cleaning crew and good communication and systems in place, it really does run itself. Put a lockbox on the door and set a code. Have your cleaning lady change the code and there you go. Of course your PM is going to tell you all sorts of horror stories about the big sites. Sure sure, otherwise they would be out of a job!! Anyway, my suggestion is go airbnb ad Homeaway/ VRBO. Also, be careful! Some places are beginning to put restrictions on short term rentals aka New York City and here in Colorado- Manitou Springs- there is now a moratorium on Vacation Rentals which don't allow less than 1 month rentals. - Best of Luck!
Paige     

Hey Ryan,

I would love to hear what you find out. I know that I did have a lot in Colorado Springs and Regional Building would not let me go with a modular home on the lot. I also know that a ton of the cool modular are super pricey compared to stick built. I have another lot though and would love to know how far you get with recommends from folks. Be sure you can get it past regional building. :)

Andrew Botcherby is the only agent I will use here in the Springs. He has gotten me through and out of some crazy stuff. I look at the Springs market every day and am an active investor. I agree look at the calculators. If you tell me what area or what the address is I am happy to help. I would also be a little leary. A ton of times by the time it has hit the mls it is either gone right away or there is a solid reason why it is still there. Also, look at the age of the house. If it is older it is likely there could be all knob and tube wiring not to mention foundations are definitely an issue around here. It is not necessarily a deal breaker but for sure a huge expense.   

Is there a good property manager any of you can recommend in Pueblo?

Thanks for all your thoughts everyone!!

Sam Dangremond super helpful although turns out two of the deals that I was looking in was in the bad area. I will be calling some of the recommendations on the list. Not that the Springs doesn't have good deals but I feel like with those numbers I need to definitely continue to think about Pueblo. On another note I just listened to one of the last pod cast in which the investor was talking about how he invests from a distance and just uses property managers/ agents to be his boots on the ground. When asked if he had ever seen the property he said he did not because he knew it was not a place he wanted to live in and he felt like if he saw it, it would color his view and he may not have bought. In the end, he trusted a property manager who knew he or she could lease it end of story. I thought that was interesting as I always have thought with our properties, if that was where I would be willing to live. This move to investing in Pueblo would be about money. I would hope to buy and hold and have a good ROI. Good luck to us all and maybe we have found our very own profitable Detroit of the Rockies!!

I live in Colorado Springs and often struggle finding deals that are good enough to jump on. It is certainly not that they are not out there just not fitting the 2% 50% etc. Sooo, I started to look at Pueblo, holy cow- deal after deal after deal where the numbers work even with a company managing the rentals. Please note that I am running the number through the analysis calculators and my goal is buy and holds on multi. One example but there are probably 10 just like it........a 4 plex grossing 1800 for 90k. Cash on cash return is 25% if I use the Brrrrr method Whaaatttt?? Nope, not gonna get that in the Springs. So, I keep hearing about crime and meth and and and. The fact is that when I run things through the calculators I put 0 for appreciation. Do I need to go back through all the pod casts and see exactly why Brandon says no to Detroit? Hellllpppp what am I missing before I pull the trigger here??

I have talked to a few wholesalers. Yup it would be great to have more wholesalers here in the Springs but the fact is that many are holding deals for themselves and flipping them.:( 

I think pics would definitely help but also........ I live in the Springs and a gps coordinate is hard. I tried to google burrows creek road and highway 93. That is pretty far from the springs ie an hour soo not sure CSPRINGS is your closest. Also, given that it is over an hour away as a resident neither of those roads or highways mean much at all.