All Forum Posts by: Kayla Givens

Hey @Tyler Edens! Congrats on getting under contract on your first house hack! I just had a client close in the same area and they are planning to do the same thing you are - live in the basement and STR the upstairs unit.

It sounds to me like you've answered your own question. If I were in your shoes, I'd want to make my STR as good as I possibly can to start out (get those good reviews!) and also take the stress off of my partner and me by making our living space more comfortable. If it's something you'll have to do in the future anyway, I'd say go for it. Also, AFTER you close, you might look into getting a 0% interest credit card or some sort of loan that you could use to take care of expenses.

Hey, @Neil Fray! Congrats on the new job! You'll love spending time here in Denver every now and then :)

Yes, you're right. Denver does have some pretty restrictive rules when it comes to STRs within Denver county. If you're open to looking outside of the city, there are some options that are STR friendly but you would have to commute.

Just sent you a message as well - there may be another way you could get around it!

Hey @Josh Carden! Welcome to Denver! It's a great place to live and a great place to invest as well! Where are your other rental properties? 

I sent you a DM - would love to chat more about the Denver market and rental strategies!

Hey, @Benjamin Rosen! Wish I was in a place to partner with you but not there yet. I would highly recommend checking out John Fisher's breakfast - they meet once a month at 7am on Saturday's and I've met some really great connections there! I would also start checking out any other real estate investor meet-ups as you can probably find someone there or someone that can get you connected/on the right path. 

Hope that helps!

Hey, @Austin B.! Sounds like a really great opportunity to get your foot in the door with STRs! I'm sure you could make a killing with a place like that - lots of people in this area looking to get away from the daily grind and just relax!!

I'd recommend getting connected with an investor-friendly realtor down that way and get familiar with the local rules/regulations in South Park. Here is a link to Park County's website with some info on STR's. Try reaching out to them via email to get a better idea of rules/regs as there isn't a ton of information provided.

Similar to what other's have mentioned, utilize tools like AirDNA to analyze the property and see what your potential earnings could look like. You might even try reaching out to other STR operators on Airbnb or VRBO in the area and see if they'd be willing to share any insight or information with you.

Best of luck!

Hey, @Austin Peters! Just want to echo what Zeona mentioned about physician loans - I have a buyer that's a physician and has looked at using this option! Are you connected with an investor friendly realtor down in the Springs? If not, check out @Ryan Thomson. He's on my team and has a ton of experience with the rules/regulations in Colorado Springs as well as getting investors into the right property to meet their needs!

Hey @Jimmy Chung! If you're having issues finding multifamily properties in those markets, you can still house hack in a single-family home! There are a few ways to go about it:

• Find a house in your price range with as many rooms as possible and rent out all the rooms
• Repeat option one but find a house that could be converted into two units - you occupy one unit and rent out the other unit

If you can find a house to convert into two units, you might want to look into the short-term rental rules in your area to increase your cashflow even more :) 

Hey, @Noah Stout! If your brother already has a house with his fiance he may not be able to co-sign on the FHA loan. Have you talked with your lender about your options? Also, I believe if he were to co-sign with you (assuming he can), the only way to get him off of the actual LOAN would be to refinance once you can qualify for the mortgage on your own.

Hey @Patty Nisbet! Echoing what others have shared here. I know the market is TOUGH right now, but I would highly suggest sticking with your criteria so that long-term, you have the right house to support your investment goals. If your goal is to do a short-term rental, make sure you're sticking to Unincorporated Adams County, Arvada, Centennial, or Wheat Ridge. It's ultra-competitive there but be patient and persistent and you'll get the right property soon!

Hey, @Lauren Sanders! I definitely feel your pain - I have buyers that have been putting in offers every weekend since early December and still no contracts. It's tough out there but patience and persistence will get you there! If I were you, I'd start exploring cash offer programs. There are a few lenders that are specific to Denver that will purchase houses for buyers up-front then turn around and sell it back to you for the same price/terms. I'm not familiar with your area but I would start researching if something like that is available to you!