All Forum Posts by: Aimee Lawrence

I'm sorry @Sam Shueh, your reply did not come through. 

@Lynn McGeein You make a lot of sense. I do think that Fort Collins will be out of my reach to buy again. We are land locked here and there's no affordable housing. It would be difficult for me to get into the rental market here. We are heading the way of Boulder. 

@Brian Garrett I bought the property for 175 but it has appreciated quite a bit in three years. What would you do with the money? If I buy another property here it will not cash flow at all. 

@Sam Shueh He's not :).  He's just trying to tell me to beset thing, even though he's losing a refi! Do you think there's a downturn coming? In the real estate market? We're kind of insulated here. 

I have a property in Fort Collins, CO that is cashing flowing but my tax guy and my mortgage guy are telling me to sell. I would qualify for the primary residence tax break because we lived in the home 2 of the last 5 years. So I would potentially be walking away with 120-150k and pay NO taxes. Here are the deets:

Owe: 162k

Worth: approx 320k

Interest rate is 3.75% currently

Mortgage: $998

Rent: $1500 but would like go up this summer

HOA: $40 a month

Full disclosure, I love this townhouse. I am very attached to it and this is certainly impacting my decision. My options are to sell and weight for a downturn, refi and lose cash flow and my interest rate but again have cash for next property, or do nothing. The reasons that I love it are it's location, is has a front and back yard, attached on one side only, backs up to green space, low HOA, and it's a ranch. I can see us moving back there to retire when it's paid off. But I know this is a once in a lifetime opportunity to make a lot of money without paying taxes. Thoughts?

hello! Anyone out there have any experience with condos in Colorado ski towns such as Avon, beaver creek, or winter park? It would be an air bnb. Seems like a good idea but they also look like they're sittingon the market. Any information would be great!

Hello,

I have a rental property that I eventually would like to leave to my two daughters, and I would like to place it in a trust for them. I also would like place it in an LLC in the meantime to protect my other personal assets. My question is, how do I go about putting the rental in an LLC? And then do I place in the LLC in a trust for them? Or do I do the trust first?

Thanks so much for your input!

Aimee

Hi Everybody,

I currently have a rental in Fort Collins and would like to buy a second home in Asheville, NC. My plan would be to do a short-term rental for part of the year, or an air BNB, and then have it as our vacation home for a few weeks. Does any one have any experience doing this? Any advice on Asheville in general? Is it hard to find someone to clean/turn over an air BNB remotely? I would love any advice, especially on the area in general. Thank you!!!

I just remodeled a place in Fort Collins and the work was so poor I wanted to cry. You would do well here if you decided to go for it. Thank you for the contacts.

@Jesse B. Wow, thank you so much for your reply. There was so much great information in your response that you answered questions I didn't even know I had! A roommate actually sounds like a great option. I will hardly ever be there. It would be nice to have it as an option though if it snows and to get out of FoCo for the weekend with the kids.  Really I thought would save me some cash if I purchased as a second home at 10% down rather then an investment property for 20%. The mortgage would be so low I think I would only have to have it occupied part of the time to make it make sense. There's always Cheyenne Days! Do you have a good mortgage broker/realtor in Cheyenne? Again, thank you.   

Aimee