Staying on the Right Side of Short-Term Rental Laws with Erin Spradlin
Erin Spradlin – the co-owner of Erin and James Real Estate, founder of Denver Women Invest that is a monthly investing group for women, short-term rental investor, and specialist in helping homebuyers purchase short-term rentals in several Colorado markets, with a special emphasis on using that strategy in using house-hacking, talks to Neil Henderson and Brittany Henderson, the hosts of The Road to Family Freedom podcast. Erin Spradlin talks about medium-term rentals, the short-term rental market in Denver, working with property management companies, and her group Denver Women Invest.
Key Lessons Learned: Women typically control many of the household buying decisions. But there is a disconnect because they don’t always make the same investments. Carve out a niche. Manage your expectations when it comes to property managers.
How did they acquire their knowledge or what knowledge did they need to acquire? Gain knowledge of the local laws. Don’t do things illegally.
How much money did it take to get started? They put about $32,000 down that they borrowed from a heloc.
How much time does it take now? The real estate side is a full-time job for her.
Could they do this strategy from anywhere in the world? Not really, because it is a hands-on full-time job.