All Forum Posts by: Umar S WIse

@Bill S. Thanks a trillion Bill this really helps!

First off thank all of you for your information and insight into my inquiry. Next, for clarification purposes, my wife and I purchased the house four years ago and have until Next November (November 2020) to make a decision on how to proceed with our refinancing/selling options. We have lived in it the entire time and are on the fence, due to how much it has appreciated already, about selling it. As stated above we have entertained several options when it comes to tapping the equity in our home. We are meeting with the CPA this week and have spoken to a couple investors in our area about this which has been little help. One of the biggest questions on our plate is will it be worth it to pay the 15% in capital gains tax when we sell it later on or will the markets hold in Colorado and my family keep seeing positive gains on this investment. So many questions and I apologize if this is a long winded response. Once again thank you for any of the help that you can provide.

My wife and I purchased our home in Northglenn Colorado roughly 3 years ago, due to some force appreciation and they vary fortuitous market in Colorado we’ve made a fair bit of equity and are looking for some ways to invest it. We were looking to find out if it would be better to refinance or we’ve been looking at the option of selling before five years and as far as we understand keeping 100% of the profits without having to pay taxes. We’ve been looking at some single-family residences in the Colorado Springs area to invest in however through the refinance or selling of the house we would have more money to purchase something bigger, possibly a duplex or a triplex. Another question we had was whether or not the Colorado Springs area was still a good market to invest in or if anyone had any insight to some other places such as Aurora or Fort Collins. Any help on any of these questions would be greatly appreciated and at this point I have read 15 books and listen to over 100 hours of podcasts. I’ve been doing a lot of reading around these forums and believe the next best thing for me to do is start reaching out on here. Again thanks any of you for any of your help.

@Taylor Burns has this already happened? I would love to get involved. My wife and I been doing extensive researching in to a rental property business . We are looking for the opportunity to meet with a group of like-minded people due to some of the reasons they have been expressed here already such as not having people in my personal friend group that are as interested in the subject as I. I am extremely green to the game I will it mitt, at this point I have read 15 books on the subject and have spent dozens of hours on the bigger Pockets forum. We currently live in the Northglenn and are looking for some ways to invest our equity. Let me know if your Facebook group is still open I would love to join. Thank you for reading my message😃