Happy December!
Tis the season to be jolly & joyous! And all I want for the holidays is a new hip….which I actually got on November 30th! Yup, a total hip replacement, so no skiing for me this season.
Which means I’ll be uber available for all things real estate – don’t hesitate to reach out with questions and feel free to send referrals my way!!
So what is new in the market?
- Colorado passed a Lodging Property Tax Treatment Bill (Bill C). The bill is expected to be introduced in the State Senate in early January 2024. In its current form, the bill would tax STRs rented for 90 days or more at the lodging tax rate, on par with hotel and bed-and-breakfast properties. This could potentially quadruple property taxes for short-term rentals that rent more than 90 days per year, relative to existing rates.
- New listings were down in October – with 3,800 homes at an average of 18 days on market. Tis a slower season though!
- What about the economy? This article walks through Why the Economy won’t Tank the Housing Market
- Looking to Network? Check out the BadAss Meetups to chat with other investors, newbies and awesome real estate peeps in the Denver area!
Remember, real estate is extremely location specific, so if you have questions, reach out to a professional – like me! – to help you ascertain the information you’re looking for. If you are looking for help with your rentals, finding a tenant or setting up your rental, don’t hesitate to reach out!
I want to Invest in Real Estate…
Where to Start!
I started my real estate investing business in 2015 and have implemented a number of different strategies. Househacking, fix and flipping, the BRRRR strategy, long-term rentals, out of state investing…..I’ve done a little bit of everything!
I get asked quite a bit from people looking to invest in real estate….”Where do I start!?”
Just like everything, breaking down the new endeavor of investing into real estate into manageable steps will make executing easier. I created a guide to help in this department:
5 Things All New Investors Need to Do
Please reach out if you are ready to get started in investing in real estate to build wealth!
How to Self-Manage Your Rental – The Hands-Off Way! Before I went full-time into real estate, I worked a full-time job and self managed multiple rentals. HOW!? Creating processes, staying organized and rinsing and repeating them when tenant turnover happens. And having Mike be able to fix most issues means it’s even easier! Now, this isn’t for everyone – some just don’t want the hassle of being a landlord. But, I tell most of the clients I’ve helped with rentals, once you qualify a tenant, sign the lease and create the house manual with instructions on how to handle emergencies, the landlording takes care of itself. If you’re looking for help in this department, please reach out to me, so you can keep more of your cash flow and have a successful rental! How I can help 1. Advising on market rents, Marketing the unit, Creating the Listing & Advertising on rental sites 2. Qualifying & vetting applicants, Checking references & background/credit, Showing the unit to individuals or holding open houses 3. Walk through repairs or updates needed for move-in, coordinate deep-clean with cleaners, advise, recommend or coordinate tradespeople for larger repairs (paint, drywall, plumbers/electricians etc) Reach out to me if you’d like an investment property consultation with me! |
Reflection, Gratitude, Planning & Accountability, There are only a few weeks left in 2023 and in the next few, I’ll be sitting down to reflect on the year and think through what I want in the new year for not only my business, but my personal life. Especially my personal life, because isn’t that what it’s all about!? How do I go about this task? Well, I’ll grab my planner from this year to see how I spent my time and what worked, along with a notebook for reflection and dreaming into the new year. Check out this article I wrote that goes into detail so you can create your own vision! And if you’re looking for accountability in the New Year, join the Accountability club that will kick off in January. |
Tips & Teachings
There’s something in the air this time of year, a magic that hangs over everything. It makes me think of simpler times, when life didn’t seem as complicated. Maybe we do it to ourselves though?
The holidays can bring out the stress in situations – expectations that are unreasonable, egos you can’t let go of, old stories we’re still telling ourselves. But this year, I’m remembering those simpler times, going back to what truly matters and focusing on my health, my friends and family, and the joy I get from helping clients.
Here are a few quotes I’ve heard recently that really resonated.
- At some point, you will have to learn to let go.There is an endless list of obligations and expectations, desires and ambitions, and worries and fears that will always be ready to insert themselves between you and the feeling of peaceIf you never learn to let them go, there will never be enough.
- Stress is not what happens to us. It’s our response to what happens, and we can control that.
Here are articles & podcasts I’ve listened to that I found extremely helpful in my business, finances, life!
Enjoy!
Three Simple Goals to Guide Your Life – Tim Ferris & Morgan Housel
Happiness Habits, with Harvard Professor Arthur Brooks – Afford Anything Podcast
Be sure to follow me on Instagram and Facebook.
Have Questions? Reach out to happyhomescoltd@gmail.com about real estate investing or if you’re looking to buy or sell! |