All Forum Posts by: James Carlson

@Matt M.  

I don't know the price comparison that well. A cursory look shows a 1br in, say a Cap Hill smaller building up to around 16 units, is starting at $190 on the very low end and going up to $240 on the higher end. Two-bedrooms in similar complexes start at $240 and go upward, but again, that is a super broad analysis.

I'll you know if I find anything else out. 

Okay, BP nation. (Or just BP Denverites.) 

I've got a client wanting to buy a small condo in the heart of Denver to furnish and rent out to traveling nurses. (I like this model, as it's something my wife and I do, and is a way for those without much money to get into the rental market.)

My buyer is wondering if she decides to go back to long-term renting if a 1br or 2br condo has a better return. I've run a few numbers, but my wife and I only own really small spaces, so I'm interested in others' thoughts on this. 

@Craig Teeter

Yes, a broad question indeed. I think @Angela Yan is generally correct that cities and "hip" areas tend to fare better on Airbnb while the traditional vacation rental home (lakehouse, ski house, etc.) fares better on VRBO. (That, itself is a broad generalization.)

Like @Blair Russell , when I was doing Airbnb here in Denver, I could have been booked exclusively on Airbnb. I also put our spaces on VRBO, though, at much higher rates and synced the calendars. If someone wanted to book for more on VRBO, great. Otherwise, my sweetspot price on Airbnb would fill it up eventually.

I think as @Leigh Ann Smith found out, Craigslist is pretty good for getting that furnished medium-term traveling nurse crowd. At least it is for us here in Denver. Our two condo rentals are both furnished and we use CL exclusively to get traveling nurses. It's not Airbnb money, but it tends to be about 50% more than a conventional long-term unfurnished rental. (And here in Denver, any way you can juice the rents is a helpful tactic.)

I know @Michael Greenberg was (and maybe still is) experimenting with his own platform, which is obviously the best way to go if you know how to build a website and get its SEO value up. (Cut out the middle man!)

In short, there are tons of ways to market STRs!

@Conrad Kostrzewa  

Awesome to hear. Denver is a pretty great place for Airbnb and short-term rentals. I've talked with the Airbnb rep here in Colorado numerous times, and he tells me Denver is one of their biggest untapped markets. Tons of demand, not enough hosts. So, whether house-hacking or renting  your own place while out on vacation, it can definitely be worth the work. See you Monday. 

@Jason Cox I love Airbnb as well. My wife and I have hosted hundreds of guests here in Denver and have stayed all around the country and world in Airbnbs. (We used it for our honeymoon in Istanbul and Croatia.)

I think what @Ro Maga said is true for those big cities. It seems like the best cities for Airbnb are not necessarily the ones you'd think of. Seattle, San Francisco, New York, Boston, etc. obviously have a lot of tourism but don't necessarily make the best Airbnb investments. With the big cities come big costs and heavy regulations. Too small a city and you don't have the demand. There is a sweet spot in the middle. Second (and third) tier destination cities like Branson, Missouri and Galveston, Texas. 

It's not unlike the regular rental market. It's all about the numbers. Where can you buy relatively cheap and rent relatively high?

Hey @Kevin Powell 

Yep, a law went into effect Jan. 1, 2017 that did a number of things, including requiring hosts to pay the 10.75% lodgers tax that hotels also pay. Hoe Denver Airbnb hosts collect that tax is up to them. Unlike Colorado Springs, Denver does not have an agreement to collect on behalf of hosts, so it's up to the hosts to collect it. That's a real pain. 

@Aaron T.

Yeah, the Colorado Springs market is pretty interesting for Airbnb. There are no restrictions right now on operating multiple short-term rentals or vacation rentals. Plus, the appreciation potential in Colorado Springs is pretty good, as it gets the spillover from Denver and the town itself becomes cooler. 

In the words of our president, that time is WRONG!!

The START TIME IS AT 6 P.M. at Jack Quinn's not 2 in the afternoon. 

(Don't get me wrong, I'm not opposed to drinking and talking Airbnb in the afternoon. But it really cuts down on the attendance numbers.)

Colorado Springs provides a unique investment opportunity through short-term rentals like Airbnb and VRBO.

Unlike many cities along the Front Range like Denver that have either passed restrictions or are considering it, Colorado Springs has no restrictions and -- as of now -- has no plans to do so.

Come grab a drink and learn:

• What kinds of short-term rentals are allowed
• What taxes you need to pay and how to collect them
• How to protect yourself with the right insurance
• Whether the city may change their laws in the future
• Broad overview of best practices for hosting

The event is free, but please RSVP here on Bigger Pockets or register here .

Details?

Airbnb Laws in Colorado Springs
August 23, 2017
6 - 7 p.m.
Jack Quinn's Irish Pub & Restaurant
21 S. Tejon St.
Colorado Springs, CO

Want to know what you can and cannot do with Airbnb and short-term rentals in Denver and other Colorado cities?

Come grab a drink and learn all about:

-- Denver's primary residence rule

-- City enforcement efforts

-- Cities more open to Airbnb

-- Tax collections

-- What insurance you need

-- Duplexes, basements & carriage houses

-- HOA restrictions

-- Creative workarounds ... and why they probably won't work

Carbon is nice enough to provide a free glass of champagne. The event is free, but please RSVP on Bigger Pockets or register here. 

Details?

Airbnb Laws in Denver
August 21, 2017
6 - 7:30 p.m.
Carbon Cafe & Bar
1553 Platte St, #130