All Forum Posts by: Angel Gonzalez

Sandstone Construction

(303) 887-3357

Hi!

There were many questions here, so I’m trying to summarize.

1. How do I know if I see what I think is a good house the location would work? - For a house hack, make sure the location works for you.

2. Would these suburban neighboorhoods like Centenial, Aurora or Thorton be good options? - There are good options all around. It all depends on your needs. These areas are very different from each other. Decide what’s your criteria for deciding where to go and then rank the neighborhoods/cities accordingly. 

3. Is there a way to estimate how much I can earn in rental? Yes - it varies depending on the area, but *very loosely for high level calculations*, I’d say a 1bd basement apartment would be around $1,000-1,400 per month. Now if you buy a duplex instead, you might be better off. Your agent should be able to help you work through the nuances of renting a 1bd basement vs a 3bd half duplex. 

4. Regarding your current lease, try to see if you can transfer to a month-to-month contract, even if you pay a little more each month. You’d be able to keep your word with the lender and also will save the fee for breaking the lease.

If you don’t have an agent, I’d be happy to have a quick call to see if I can help narrowing down your search. Let me know! 

I'm a CPA! Let me know how I can assist. Since I can't put my phone here, please send me a DM. Thanks!

Hi!

I'm looking for a management company in the Denver metro area. This property, specifically, is in Aurora, 80013, but are expecting more properties in the future. Who would you recommend?

Thanks!

Hi!

We have several additions and a carriage home coming up in the near future and are looking for a framing company to partner with. 

Let me know if you have any references. I appreciate the help!         

Hi Kimberly!

I’d recommend you go with a local contractor. Out of state contractors don’t have the subs and providers than a local contractor would, which could save you money (they could get special pricing and pass the savings onto you). Plus, you could be more certain of their prices and estimates (e.g Texas labor is cheaper than CO labor).

I’d recommend you give a call to Sandstone Construction. The owner, Scott Disney, is great, and their office is in Lakewood! (303) 887-3357

Let me know if you need a local agent as well!

Sandstone Construction! The owner, Scott Disney is very professional.

303-887-3357

Let me know if you also need a real estate agent! Thanks,

Hi @Herb Dorn @Bill Exeter and @Alan Johnson

Thank you for your time and this information. This is great!

I'm going to let the dust settle and then go from there. Thank you again!

Hi! 

I'm looking to transfer my IRA to another custodian that will allow me to invest in RE (not self-dealing). Do you have any recommendations?

Thanks!

I’m a CPA. What you describe is correct, but as always there is the disclaimer that I’d have to look into it further to give you a more accurate answer.

The tax is paid on the capital gains, which is sales price (less selling expenses) less the adjusted cost basis (cost - depreciation + capital improvements).

As you mentioned, the first $250k are excluded, so she just pays the tax on the difference. Also, depending on her income, she might not be liable for taxes at all since not all income brackets pay the capital gains tax.

I’d be happy to talk!