All Forum Posts by: Dustin Booth

Got it. Thanks!

Many thanks! On your final point, about money, are you saying keeping some cash in spite of having to pay capital gains to get it? Thanks again.

They are a close friend, and relatively fresh to commercial properties. 

Thank you Dave. My good friend reco'd the WP route too...with Aspen stepping in I expect values to rise. Everything I could find said that management in a resort saps any hope of a profit. I didn't look at much that wasn't ski in/out, though, so maybe I will revisit it. 

I have also never looked into land to lease out. Do you have any recommended reading for a beginner on that subject? Thanks again!

I am willing to go out of state...though I liked the thought of being a day's drive from a visual inspection.

Should have added: I already have an agent licensed in Colorado and Wyoming, if that matters.

Hi - This is my first post. Apologies if I chose the wrong forum. 

I have a SFH in SoCal that I want to sell as I have a ton of equity but is making bumpkiss. I haven't lived in it for 6+ years so I will need to 1031 into something else, preferably in Colorado or Wyoming. I can't understand if it is better to use this one-time big sum (>$300-400k, maybe a bit more) to leverage into a large (10-15 unit or up) MFH where I would be borrowing a lot, or to mostly pay off something smaller and immediately have a larger cash flow. I don't expect to have another chance to start with a sum this big, so I would like to make the best decision I can. I also don't have anyone I can ask for advice, free or paid. For the latter I may not know the title of the person...financial advisors have wrinkled their brows while tilting their heads.

I greatly appreciate any direction or advice the collective mind has out there. About me - late 30s, married, no kids, no kids planned, work in IT in Denver area. I plan to use a management company with anything I buy as I don't have time to be a landlord. The condo I have rented out has taught me that, so i will sell that too. But those proceeds will be smaller and go towards my current mortgage.