All Forum Posts by: Tim Schroeder

Really? Any market? Come on. OK, send me some properties for sale in Aspen, Vail, or Breckenridge that will cash flow at > 20% CoC ROI with today's interest rates. TIA.

Quote from @Collin Hays:

>> There aren't any tax loopholes that I am aware of. 

The "loophole" he might be talking about could be offsetting W-2 income with passive RE losses by qualifying as a "RE professional" with "Material Participation"... ?

I was considering relayfi too, until I did the math and realized how much interest I was losing out on. ACH limits can be raised to $6,000/day and $25,000/month if you ask them. 

Yes you can do that. But there is great value in moving AirBNB & VRBO, utilities, mortgage, etc all to Stessa bc then all those transactions are tagged to the right property, so it makes bookkeeping a breeze. For me, I used to struggle to remember which property to assign that plumber's bill to, and which cable bill went to which property, and all that goes away when you create accounts per property. Many people create additional accounts per-property too - like CapEx, Profit, Rainy-day fund, etc

Yes!  :)

I have 3 properties that I STR on AirBNB and have moved everything to Stessa and I'm very happy with it so far. Interest rate for the Pro version has been raised to 5.06% which is literally the best you can find anywhere right now. The other thing is I get a debit card and bank account per-property and transactions are automatically tagged with the property based on the card I use. So as long as you use the correct card when making purchases or paying vendors, you don't have to remember which property to assign the expense to.

Looking for financing for a multifamily property for my son to get him into the RE business. Colorado market, 1st time buyer, want FHA low down pmt, but need a lender that will consider rental income without the presence of existing leases.

My first property was a "second home" mortgage with 15% down. I've since refinanced that loan and bought additional properties with standard 20%-down "investment" mortgages. The question is, when (if ever) can I say, "This property is no longer a second home, it's an investment" and then get a new "second home" loan on a new property purchase? (Note: I already know I can get another "second home" loan in a different geographical location. I am talking here about multiple properties in a single small area). I guess I'm trying to "recycle" my second home low-down-payment benefit and use it again.

Why do you think Fairplay made the list?  It's a bit too far from ski resorts IMHO. Is it because RE prices are lower than say, Breckenridge?

I already have 3 vacation rentals in TN so I know the business. But I live near Denver and I want my next one to be something I can drive the family to and use as a vacation home. Questions: What areas offer the best price/income ratios? Not looking for a $1m condo in Vail. Prefer the classic rustic "Cabin in the woods". No more than 3 hrs from Denver. Do I need to be near a ski resort to make decent income in the winter?

@Luke Carl and @Avery Carl helped me get into the business and now I have 3 large cabins in the Smoky's that NET me $50k apiece with a whopping 50%-ish CoC return. I live in Denver. IMHO there is no better business. Having said that, it is not strictly passive. Even with everything automated, there is still some work involved. Communicating with guests, managing maintenance & upkeep., answering questions. But for that CoC return I gladly do it.