All Forum Posts by: Brady Stout

@Joe Splitrock Thanks for the reply!  We will be getting some estimates from snow removal companies for clearing the deck in addition to the driveway and walkway.  Really trying to get a gauge on what guests expectations would be so your input is quite helpful.

@Genny Li Thanks for the input, Genny.  This property is located in the mountains and will be getting about 15 ft of snow annually so I don't think a broom will be sufficient

@Russell T. Thanks for providing that article. I had not seen that yet. Thankfully, we are located just outside the incorporated town of Breck so this will not apply to us. Nonetheless, we will be applying for our Summit County STR license as soon as we close on the purchase of the property next week.

Thanks @Brian Kohtz!  This house is in Breck as well.  I appreciate your input and will keep it in mind for our decision.

Hello,

My wife and I are in the process of purchasing a short term rental property near a ski resort in Colorado.  This property will be a pure short term rental investment property.  I am wondering about snow removal and how others handle it for their properties?  We will have a contract with a snow removal company to clear the driveway and walkway to the house after snow.  However, I am wondering about how we should handle the large deck on the outside of our house that will have a hot tub.  Would guests expect the deck to be cleared of snow?  How do others handle this?  Thank you!

-Brady

Thank you both for the helpful info!  I appreciate it.

-Brady

Hello,

We are in the process of a 1031 Exchange. We are selling 2 properties that are each owned by different LLCs and will be buying a single larger property. Because of the 1031 Exchange rules, we will need to buy the new property into both LLCs. The property will be owned about 40% by one LLC and 60% by the other. How should we set up our bank account(s) for this property? We will be using the property for short term rentals. I would like to minimize the complexity and make things as simple as possible. What would you suggest? Thanks!

-Brady

Perfect.  Thanks Dave!

Thanks so much for this info!

Hello,

My wife I are in the process of buying a property through a 1031 Exchange.  This is an investment property in the mountains near Breckenridge, CO.  We intend to use the property as a short-term rental (AirBNB/VRBO).  Before we can lease the property it needs some structural repair and rehab work.  We expect that the repairs will take about 1 month to complete.  We do not currently live in Colorado so we are considering staying at the property during the repairs to manage the process.  However, I know that 1031 Exchange procedure has very strict rules about personal use of the property.  Would it be considered personal use if we were to stay at the property, before we lease it, in order to manage the repair/rehab process for about 1 month?  This would not be a leisurely vacation.  We would be staying there for the sole purpose of preparing the property to rent out via short-term rental services.  Any advice or information would be appreciated!  Thank you!

-Brady