New to real estate. Buying a second home and swapping first home into LTR

New to real estate. Buying a second home and swapping first home into LTR

Member since 2026 · 1 post · 3 votes

Hello thanks for letting me be a part of this community. 

My partner and I are moving to Colorado and in the early stages of house shopping. We’ve looked at some houses with a realtor and applied for a loan with canvas credit union so far. They offered us a “doctor loan” which offers 0 down, 1/8% lower rate, and no mortgage insurance. Seems like a good deal so far. 

In regards to our current house in north Idaho, we are in the process of putting it into an LLC and then looking for a property management company to handle the LTR day to day.

We are also interested in hiring a CPA to set up a good tax strategy and make sure we are taking full advantage of this situation.  

Tl:dr we are buying a second home in CO and going to rent our first home in ID. Looking for recommendations for CPA, property management in north Idaho, and advice on “doctor loan”. 

Thanks everyone!

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  • Abel CurielBusiness Member
    Real Estate Agent · Queens, NY · Member since 2016 · 2k+ posts · 1k+ votes
    8mo

    Hello @Daniel Roberts and welcome to the BiggerPockets Community!

    To find people and topics of interest, I'd recommend using the search feature.

    As far as a solid CPA, I'd send a DM to @Bernard Reisz!

    All the best!

    Abel

    REbuild Team - eXp Realty5252 Reviews
  • Aaron ZimmermanBusiness Member
    Accountant · Chicago, IL · Member since 2018 · 2k+ posts · 1k+ votes
    8mo

    Daniel - that doctor loan seems like a phenomenal deal!

    I would recommend connecting with a real estate cpa prior to forming the LLC just to make sure you're making the right decision for you. I'd recommend reaching out to some CPA's that are active on the forums, using the tax pro feature BP has, and getting recs from local real estate investors.

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