All Forum Posts by: Kevin Dickson

Check Airbnb

I know it's a fix and flip, but garage rents in Denver have recently skyrocketed. Building the garage for $12,300 and renting it for the current market value of $400/month yields a whopping simple ROI of 39%.

If that much extra rent pushes the project into "fix and hold for a year" you will make even more money.

You should re-check your market rent estimate.  A four bedroom 2bath within 15 miles of downtown Denver or Boulder can earn $2600/month.  It's been getting nuts out there.

But your "market price" indicates it's in a less desirable area, like SW Denver, or ??

If it's Montbello or GVR, the appreciation is coming soon.  I'd sell it in 4 years before the market there drops again.  

You said, "the house would rent for well above market."

No, it won't.  By definition.

(But the market just went up about 20%)   8 -)

I'm sure you were aware of temporary labor services, but you should seriously consider them to keep everything legal and lawsuit free:

http://www.laborready.com/docs/default-source/default-document-library/labor-ready-fact-sheet-2014.pdf?sfvrsn=0

Just a thought about ski resorts...   The high mountains of Colorado may actually see an increase in snowfall due to global warming.  Everywhere else may not have any skiable snow in twenty years.

As Jeremy said, check VRBO and Airbnb.  At any resort, there will be many owners on there.  Airbnb redacts all phone numbers and email addresses for "privacy reasons", so it's a pain to contact them for information

@Bill S.

Sounds like a chicken and the egg problem.  Someone will have to build the first one and lose a little money.  That's what I did at 2642 S Cherokee.  Now there are about 12 units permitted.

Upon a little further research, it appears that CL is trying to get you to NOT say things like "no section 8"

Yes, it looks like "source of income" is in a few state statutes.  Sounds awfully vague to me.

I know some landlords who have always refused to rent to lawyers LOL.