All Forum Posts by: Eric C.

If you do leave CA (I’ve a brother who’s staying and a sister who isn’t) I’d ask one favor: never forget what your reasons were for leaving and don’t vote to recreate those same problems when you get where you’re going.

We are having that problem in Colorado. Californians coming here doing just that.

1 Vote

Originally posted by @Karen Margrave:

Lake Shasta is the largest man made lake in the U.S. with 365 miles of shoreline.

Sorry, but not even close by shoreline or by area. Lake Powell has 1960 miles of shoreline.

2 Votes

PM me. or send me an email at echastang at sentextsolutions dot com. I am a national sales manager for a text mobile marketing company.

0 Votes

Buy two. that way if one is vacant, you still are 50% rented. With one, you would be 0% rented. Plus a tenant in a more expensive property is likely to be less hassle.

0 Votes

Ally Bank 1.6%

0 Votes

Originally posted by @Jessica Stewart:

@James Carlson I know this thread is a year old, but I had a similar question as @Sam Cain and found your response very informative!

I do have a question regarding the Primary Residence Rule in Denver, and I'm hoping you might have the answer! When I reviewed the short term rental regulations page on denvergov.org I see they have a stipulation that "Written permission must be obtained from landlords or owners". Hypothetically, if my husband were to purchase an investment property in his name and I were to lease the property from him in my name, would I be able to list that property as a short term rental and be in compliance with the primary residence rule?

Hypothetically, unless it was your primary residence, you would be operating an illegal AirBnB.

0 Votes

Originally posted by @John S.:

Let's look at the numbers:

First option you put 3k down and pay for the first 2 years around 12,000.00 in payments and $500.00 maintenance. total out $15,500.00 for two years. You don't have any value in that car at all at this time. Go forward to 5 years and paid off now you have spent total 34,500.00 the value of said car that is now 7-8 years old is 2k. You spent 32500.00 to drive for 5 years.

First let me say a car loan is a huge waste of money, as is buying a new depreciating asset. But your numbers are completely off here. There is no car out there that you buy new for 25k and 7 yrs later is only worth 2k unless you totally beat the hell out of it.

But aside from wrong numbers, just go buy a late model used lower mileage car and invest your savings elsewhere.

14 Votes

Let me compare two hypothetical scenarios for you. Numbers are rounded for simplicity

Scenario A neighborhood: Purchase price, 200k, downpayment 40k, monthy cash flow after ALL expenses $200, annual average appreciation 3%.

Scenario C neighborhood: Purchase price, 200k downpayment 40k, monthy cash flow after ALL expenses $400, annual average appreciation 1%

After 30 years, assuming NO rent increases, on Scenario A you would have profited 72k in rent, PLUS own a property free and clear worth 485k. On scenario C you would have profited 144k in rent, plus own a property free and clear worth 269k.

0 Votes

Originally posted by @Daniel Sabato:

@Frank Chin Thanks for the reply! In a perfect world I would rent out Unit 1 and their payment would cover the entire mortgage for me to live for free upstairs. In this case, that isn't going to happen. I would be looking at paying $750 a month, but after year 1 I would rent out my unit and collect rent for both units! The long term is what I'm really looking at here after Year 1 !

Is the 750 monthly you would be spending less than you could rent elsewhere?

0 Votes

I just did a cash out refi on a rental that previously did not have a loan on it. Is the interest going to be deductible on the current rental, or would it be on whatever rental I acquire with the funds?

0 Votes

All Forum Posts by: Eric C.

Eric C. has started 13 posts and replied 197 times.

Post: People are fleeing California, are you?

Post: People are fleeing California, are you?

Post: Looking for suggestions for txt service.

Post: OWN one house or FINANCE two??

Post: Most established banks to dump $ into high interest saving acct?

Post: Denver Long-term Rental vs. Airbnb?

Post: Do you lease or buy your vehicle ?

Post: Better ROI or better neighborhood

Post: Multi Family Duplex: Buying Negative for the Long Term Positive

Post: Ask me (a CPA) anything about taxes relating to real estate