All Forum Posts by: Dusty Sylvanson

Hi Drew, Some great perspective from folks already. I've lived in Gunnison County for 26 years, I'm a Gen. Contractor in the valley, have built a few places in CB South and have navigated the HOA over the years. I have a STR in Gunnison and a few long term rentals in Gunni too. My sense is that the CB South HOA will get tighter and perhaps more difficult with STR's as time goes by, beyond what is unfolding now. Long term rentals are in high demand, so that's a solid option, but may not meet your goals. We are seeing the move towards regulations for STR's throughout the whole valley, as many other places. Great luck!

American standard is known to have better flushing power= less clogs. Kohler has better porcelain coating = less staining over the long term. These 2 brands seem to be the best toilets for a decent price. There are others that are cheaper and will last awhile. For me it depends if it’s the one and only toilet or is it the 3rd, that is not used as often? How is the rest of the plumbing? Is it hard water? Am I planning 5 years or 20 years before the next renovation? And of course, how much can I afford? I have no problem putting in a low cost toilet if I am balancing a lot of costs in a renovation. I also am prepared and know how to do all the repairs on toilets. So my comment is it depends. I am building new properties to hold for long term and choose Kohler. Good luck!

Ed Barone, your ability and willingness to share and respond in a professional manor is very helpful and kind. My portfolio is growing and I am in the weeds reviewing management options, there quite a few to review and find the right match for my needs. I will be digging deeper into RentRedi to see if it fits. Thank you for being kind, responsive and respectful!

Hello BP community! I’ve been a member for a bit and have been digging in deep, learning and listening from many of you, so thank you for all your generosity to this community! 
I’m looking for reflections on blind spots that I might not be seeing, due to my biases.

Here’s my path and potential:

I purchased a property, broke the lots apart, flipped the existing house(paid the bank note off), sold one building lot(paid my investors back), and own a building lot free and clear (with my cash in and sweat equity). I am a Self preforming General Contractor and Build houses for a living in the same town. I am about to finish building on the lot I sold and have already designed a 3 BDRM/2Bath with detached ADU for myself. I know my numbers really well, have great lending relationships and this would be my 3rd rental. I have tested lots of scenarios with calculators and understand where it thrives and where it sinks.

I am in a small mountain college town (one block from University and 2 blocks from hospital). Our inventory and rental market is super tight. I decided against duplex or town home, for selling potential(if need be) and we have >50 doors of multi family being built over the next year.

Here’s my bias that I am challenging- small mountain town that more work from home folks will target. Build it this year and get to the conversion table for a 30yr fixed while interest rates are still low, projecting to finish 1st or 2nd quarter next year. I’ll pay myself and small crew to build, as I will have to show income. I e been in the trades for over 30 years and it’s been a dream- I feel so fortunate, but this is also a blind spot. I could wait to build, but... I have the time this fall and winter, and then onto a big, custom build ( if it stays the course). Lastly, I have refi my primary to cash out to pay off my other rental, so I can put a commercial line of credit on it, to be in a position to buy other properties if the market drops. ( lots of evaluation and consideration to be clear and confident in that move). 
So what am I not seeing? Considering? Any builders with similar experience? So many unknowns in our world at the moment and the risks are hard to play completely out? In this scenario, would you build now or wait?
thanks for any consideration, Honestly, I am having so much fun and passion on this adventure. Wishing you all well

I am in the process of doing the same thing. I have read and received lots of feedback and caution to not do it. Here’s why I am. 1. I consulted my accountant and understand how to navigate the taxes to work for me. 2. I am lowering the interest rates significantly, therefore cash flowing double. 3. My goal with cash flow is to pay my primary down faster, or if times get tight, have more cash flow on hand. 3. I can easily pay the new mortgage amount, without the considerations of my rentals. 4. The big one - I am a contractor and I can open a business line of credit on my rental easier than my primary, rather than the heloc path. 5. My equaty position is really strong on both properties, even in a big down turn. This works for me because because I build a lot of houses and have strong relationship with a bank and have another build and hold project in the works. After lots of research, consulting with older real estate investors, accountants and knowing my personal goals and path forward, it made sense to me, in my situation. I should add, I am not looking to over leverage to gain more properties. Great luck, and keep researching and clarifying what is right for you!