All Forum Posts by: Allen Stewart

Thank you @Chris Lopez I appreciate the info. Definitely doing the step-up with the inheritance vs purchasing from my family member per our tax advisor. 

While it would be nice to sell without having to worry about cap gains at that time I'm looking for cash flow in my portfolio and with the renos this property should provide years of low maintenance rental income and a nice bit of equity we can draw out for future investment.  

 Hi Caitlin, thanks! I have a Subaru shop over off 38th Ave. Not sure what the rules are for posting my business. I purchased that commercial property in 2021.

Thanks for the insight on the tenant/landlord laws, I have a lot to learn on the property management side and will diving into all that very soon!

 Hi River, thanks for the welcome! 

The gameplan right now is somewhat like hacking since I live in the main unit and will be renting the basement unit and cottage house, but I will be moving toward more of a BRRRR plan long term. The basement reno was a great learning experience, it was a full gut and redo which included HVAC and plumbing for basically the whole house.

Once a tenant is in place for the basement unit I will move to rehabbing the upper 2 floors that I currently occupy. Once that rehab is complete, and a few minor updates to the cottage house in back, the 3 units will be ready for many years of rental income. At whatever point the inheritance happens I will likely borrow against the property to help springboard my investment capital for other properties (including finding a new place for me to live)

Hello community, I've just joined up to learn all I can about real estate investing and property management. 

I will be inheriting a 3 unit property in Wheat Ridge that I current live in the main house. I have just completed a full remodel of the basement unit which will be up for rent here soon and there is a long term tenant in the cottage house in the back. The property has been in the family since the 70s and has been a rental the whole time. Needed some major updates which I have been doing slowly but will be a great cash flowing property to help propel my investing journey forward.

I also own a commercial property in the Wheat Ridge area that I run a business out of. I have started a property management LLC company to manage these properties for myself and hope to grow that business as well.

Looking forward to learning as much as possible and making connections in the community!