My guest for this episode is Josh Erney, a Denver real estate investor and client who contributed chapters to both the 2019 and 2020 Guide to Denver Real Estate Investing Strategies books.
Josh is 29 and works in IT full time. His investing strategy is a combination of real estate (house hacking), life insurance, and stock market investing, primarily in ETFs and mutual funds. He shared his investing strategy with me in October 2018 in this blog post.
Josh bought his single family rental property in 2018 with an FHA loan and only 3.5% down. The upstairs was move-in ready, but the basement which he intended to rent out via Airbnb needed extensive remodel. He was able to add a kitchenette and did all the work himself.
His 2 bedroom / 1 bath basement apartment is now able to sleep 6 people and rented out for $100/night. His 100% occupancy rate in August and September of 2019 was an indicator that he was pricing it too low, so he was set to increase the price for the summer of 2020 when COVID hit.
How COVID Has Impacted Josh's Rental Strategy
Once COVID hit in March 2020, Josh saw all the reservations eventually cancel for the next two months. He started to see them come back in June and July but decided to take it off Airbnb altogether and repurpose the basement for the time being.
Watch the video or listen to the podcast (at bottom of page) for the full discussion.
Submit a Chapter for the 2021 Guide to Denver Real Estate Investing Strategies Book
To submit a chapter for consideration for the 2021 Guide to Denver Real Estate Investing Strategies book, bookmark this page.
Grab a copy of the 2020 Guide to Denver Investing Strategies book for yourself.