All Forum Posts by: Neil Smith

I have a potential client who owns a home in Boulder that is their primary residence and it worth ~$1.3M and they have >$500K of equity in the property. They're wondering if they sell and put all of the proceeds of the sale into another primary residence, do they still have to pay taxes on the profits from the sale that exceed $500K? They would utilize provision 121 and not pay taxes on the first $500K.

Thanks @Dan Guenther.  I live in Erie and would appreciate the chance to speak with you. 

Hi BP friends,

I'm a new agent, looking for a brokerage whose managing broker is experienced in creative-finance deals, specifically owner-carry, in the Denver-Boulder markets. I would welcome any introductions or recommendations. 

Thank you,

Neil

Looking for a source of Colorado legal forms for Subject-To and owner-carry deals. What forms have you used and what's the best source for Colorado-specific boiler-plate forms?

Thanks in advnance,

Neil

Hi all, 

I'm long-term renting a property to tenants (a husband and wife team) who will short-term rent the property via AirBnB, VRBO etc. My home insurance carrier (State Farm) seems to not be familiar with this arbitrage model and does not want to continue insuring the property. 

Can you recommend an insurance company that will offer a policy for an arbitrage-rental agreement?

Thanks in advance,

Neil

Hi BP friends,

I am looking to invest outside of Colorado, where I live. My wife and I have some properties in Colorado for the long-term equity play. And I'd like to invest outside of Colorado for cashflow. 

3 questions for you experienced investors:

1) Which markets are you investing in?

2) What metrics do you look at to inform market selection (job growth, tax rates, red VS blue states etc)?

3) Do you see any markets where cashflow is strong and the potential for appreciation is decent?

Thanks in advance for any insights. 

Neil

Thanks Jeremy. Let's find a time to connect later next week. How about Friday the 28th?

-Neil

BP friends,

My wife and I have a house in Arvada, CO. It's a 5 bed, 4 bath 4000 SF single-family home that we're currently using as a short-term rental. An arbitrage company recently approached me indicating that they'd like to market it as an MTR property and are offering to pay us, per month, about what we're making per month. My first thought was that to be able to make the same amount of $ per month without actively managing it sounds pretty enticing. But, my second thought was that if the arbitrage company is able to generate substantially more per month than I currently do, then why can't I?

We have it listed through RedAwning, a company that markets the property on many of the usual channels - AirBnB, Booking.com, VRBO etc.

The home isn't super close to anything, but is relatively close to a lot of things. Hospitals, Golden CO, Denver CO, Boulder CO, Olde Town Arvada etc. are all within a 20-30 minute drive.

From your experience(s), what else can I be doing to generate more and higher-dollar bookings with this property?

Here's a link to the AirBnB listing

Thanks in advance for any advice from experienced MTR investors.

Neil

BP friends,

My wife and I have a house in Arvada, CO. It's a 5 bed, 4 bath 4000 SF single-family home that we're currently using as a short-term rental. An arbitrage company recently approached me offering to pay us, per month, about what we're making per month as an STR. My first thought was that to be able to make the same amount of $ per month without actively managing it sounds pretty enticing. But, my second thought was that if the arbitrage company is able to generate substantially more per month than I currently do, then why can't I?

We have it listed through RedAwning, a company that markets the property on many of the usual channels  - AirBnB, Booking.com, VRBO etc. 

The home isn't super close to anything, but is relatively close to a lot of things. Hospitals, Golden CO, Denver CO, Boulder CO, Olde Town Arvada etc. are all within a 20-30 minute drive. 

From your experience(s), what else can I be doing to generate more and higher-dollar bookings with this property? 

Here's a link to the  AirBnB listing

Thanks in advance for any advice from experienced MTR and STR investors.

Neil

Hi BP Community,

I'm looking for a HELOC on a rental property. The best I've found so far is 75% LTV @ 7.5%.

Wondering if there are options out there with higher LTV and/or lower interest rate.

Thanks in advance for any guidance. 

Neil