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Updated over 9 years ago on . Most recent reply

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2
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1
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Lindsay VanSomeren
  • Kirkland, WA
1
Votes |
2
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Learning the ropes in Colorado

Lindsay VanSomeren
  • Kirkland, WA
Posted

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!

Most Popular Reply

User Stats

390
Posts
125
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Adrian Tilley
  • Residential Real Estate Agent
  • Broomfield, CO
125
Votes |
390
Posts
Adrian Tilley
  • Residential Real Estate Agent
  • Broomfield, CO
Replied

@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.

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