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Updated over 9 years ago on . Most recent reply
![Lindsay VanSomeren's profile image](https://bpimg.biggerpockets.com/no_overlay/uploads/social_user/user_avatar/419993/1621450583-avatar-lindsayv.jpg?twic=v1/output=image/crop=400x400@0x0/cover=128x128&v=2)
Learning the ropes in Colorado
Hey there!
My name is Lindsay. I moved to Fort Collins, CO about a year ago from Fairbanks, AK. Me and my husband own a home in Fairbanks, which we have so far been unable to sell. As a result, we've been renting it out with a property management firm. I was skeptical at first (and still am a bit), but so far it's been going great, and we've been receiving enough each month to cover our mortgage plus an extra $200 (which is coming in handy to pay off a loan we had to take out several months ago to pay for a $5000 water tank repair...but don't get me started on that).
Right before I moved to Fort Collins, I graduated with an M.S. degree in wildlife biology and conservation. Unfortunately, I'm finding out that the job market in this field is not what I had hoped, and I'm now finding myself working with a less-than-stellar wage. At the same time, however, my husband is just now working towards a B.S. in construction management.
He hasn't even finished one degree yet, and he was just offered a part-time internship position with an hourly wage approximately 50% more than I'm making with my master's degree - not to mention what he'll be making when he graduates.
This was really the impetus for me realizing that something had to change. I truly still want to be a wildlife biologist. The work is meaningful, the job is fun, and I feel like I'm making a difference in the world (or will, when I get a job at least). However, this does not mean that I need to be poor for the rest of my life or not be able to afford the things that I want, which is why I want to look into buy-and-hold real estate investing.
So that is my story, and I hope to learn more about all of this!
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@Lindsay VanSomerenWelcome to Colorado and BP. Feel free to reach out anytime for help - there are a lot of great Colorado folks on here.
Regarding your rental, you'll want to to a search on "the 50% rule" - might open your eyes a bit.