All Forum Posts by: Brandon Elliott-Pandey

Hello! My name is JT I am new to investing, 26 years old and would like to start on a path that builds wealth for me and my family! I am looking to connect and possibly find a mentor! 

Looking to sell 2 properties - Platt Park & Overland, east of Santa Fe. I no longer live in Colorado & it's time to move that investment elsewhere.

The Overland property is on a very large lot - land value for a developer would probably be a primary driver. The Platt Park house would probably be more suited to an individual - not a distressed property.

Both properties are currently rented out.

Looking for an agent/broker to market & handle these sales, preferably someone who deals with investors.

Thanks!

Hey everyone, I'm fairly new to all of this so I'm looking for some advice. My 60 day notice for my apartment is a few days away and I'm wondering if I submit the notice to move out, is that enough time to find/close/move into a house hack? I have been budgeting and saving but I don't have an agent so it's been difficult to find listings. I'm mainly looking in the Denver area but am open to expanding to The Springs, Fort Collins, etc. TIA!

Hello BiggerPockets community! I'm Lisa Cervantes-Glynn from Denver passionate about real estate investing for over 15 years. I'm particularly passionate about multi-family rentals, BRRR opportunities and fix and flips. I've also recently become interested in college town rentals.

Excited to learn and connect with you all!

You want an LLC for ease of administration, trusts are kind of annoying as they can act as their own taxable vehicles as opposed to single-member or pass-through entities that an LLC can provide. A trust is a more expensive route to go administratively (mostly amount of headache), but there's a good chance you don't really need an LLC anyway as you may not get the limited liability aspect depending on how you operate the properties. For many folks in your position, the only real advantage to an LLC is if you want the pass through entity with a partnership/S-corp or the anonymity aspect. This may be more of a question for a lawyer, but from a tax perspective, that's my input.

It's also worth looking at the sec. 121 home sale gain exclusion to see if it might be something you qualify for in order to take advantage of the exclusion amount since you mentioned it was a previous primary residence.

I completely agree with what Chris and Jeff said. It's not the right time to arbitrage borrowed capital to lend out, IMHO. If you want to learn more about the practice (and art) of safely and securely finding and funding a PML to see if it's for you, check out my book on BiggerPockets called Lend to Live: Earn Hassle-Free Passive Income in Real Estate with Private Money Lending. 

As others have mentioned, 100K in some markets is doable but in most coastal, appreciation markets, it will not be sufficient to lend in a safe manner, i.e. with a large equity buffer to protect your principal investment. PML is for capital preservation and more predictable passive cashflow so you will want to ensure you do it properly so that your principal amount is returned to you, first and foremost. 

I keep seeing posts about HB 24-1098 which severely restricts a landlords ability to evict non paying tenants or restricting folks on rental assistance from the government.  

Are you all still investing in Colorado long term rentals?

I wouldn't seek legal advice like this on here. A mentor once told me "pay your attorneys and the IRS." He was right. That being said, if you do plan on financing the property, I would talk to an experience, knowledgable lender. Lenders won't lend on properties owned by some types of trusts. Also, do you own anything on the subject property? You'll want to have you or your attorney broach the subject with that lender. The transfer of title could trigger negative covenants in the loan (eg: Due on Sale Clause). You wouldn't want that to happen. Good luck to you.