All Forum Posts by: Matthew DiGiacomo

Moved to Colorado a few years ago and I have been using my old tax person that is out of state. I bought my first STR last fall and hopefully plan to keep on the real estate investing track. So I am looking for someone local that is familiar with real estate. Any recommendations of someone you used would be appreciated.

Mine is actually in canton. How did the sale go for you ?

@Kyle Novak when I lived in TN I was outside of Memphis. So not exactly somewhere id look for short term rentals but passed through the other end of the state quite a bit. My first choices for STR were Gatlinburg and the Gulf Shores but I was too late to the party. Looking at condos in the Gulf they just didnt appear profitable at all in the current market. Gatlinburg is hot and a great STR market. However I feel like you were going to need to spend substantially more, probably 200k or more than where I bought. I was trying not lay out that much. Looking back it might have worked better with better revenue since its more popular and likely wouldve already been turn key. I did not buy mine turn key but instilled a certain amount trust in the referral I was given to discuss things with the team in NC, analysis showed potential of upwards of 45% return CoC.

@Kayla Givens Yes when I was looking and with all the STR rental rules in Colorado I basically said screw it ill go somewhere else. While my holidays at the STR will be very profitable I am not in a position where my hands are tied and I cant by in CO even though I am tired of my current roommate living situation.

Property is down i40 about 25 mins west of Asheville. When I lived in TN I was familiar with the smoky mountain area of  TN and NC. I got connected through an agent I was working with in Denver and spoke with someone on the team in NC then decided here and numbers looked good on paper.  The insane overbidding in my area was pushing homes towards 600k and it would have needed to be a house hack. I aimed for $1000 cashflow so I ended up there. Prices were nearly half and short term rental income appeared lucrative. The gross rent coming in from thanksgiving to new years is very good.

I've been a lifelong BMW mechanic. I am now diving deep into real estate and all that jazz. I live in the Denver area now but bought by first short term rental out of state near Asheville NC. Its been a massive learning curve.