Greetings strIQ Squad!!

Damon and Amanda Balcerak here, from Denver, CO!

We are presently in Stage 3, Hunting Stage. Our 90-day goal is to have our first STR up and actively running and cash flowing.

Since June, we have been thinking that's through arbitrage, but in the past 24 hours, we have thought it also could be through a DSCR loan.

Biggest roadblocks at the moment:

1) Making arbitrage work in Colorado. We have done exhaustive research since starting with Bnb academy on June 6. We have learned that Colorado is not user friendly for arbitrage, and we're also not wrapping our head around starting our first bnb in a place foreign to us, where we know NO ONE. As a licensed GC - I have SO MANY resources here, it would be silly to not use them. I can't seem to get a straight answer on how anyone launches out of state, never going there, or knowing no one??

2) Lacking the knowledge to piece together a "buy" deal, especially not having significant liquid assets at present moment. But we do have amazing credit. Or maybe its the fear of failing, or ruining that credit, or both. But between the $'s for bnb academy, and Air DNA, and strIQ now, plus knowing design and furnishing bills are coming plus deposit/rent/mortgage - we are pot committed and all in and don't want to fail. Praying this is the last shot in the arm to get over the hump.

Being brutally honest here. We believe if you're the smartest person in the room - you're not in the right room. So here we are - ready, eager, persistent - and want to soak up all we can from everyone else here who has the experience we don't but wants to share.

Thanks for listening. And hopefully someday we can give back to this community as well in the same fashion.

4 comments

Greetings strIQ Squad!!