All Forum Posts by: Corriene McKeown

I’m not sure how to reply to each persons resonse. 

Mark- Yes we love having the DENVER house and really hate to sell our first home. We got lucky with this investment and am not sure about buying more rentals as we may return overseas.. it’s been hard to manage 3 properties from Asia! 

But yes any return is a good return 

Kevin- we make great returns on the Denver property. That’s why my husband doesn’t want to sell it. It’s in great shape and always rented. It is an added income and that’s why he wants to keep it. I think we would be hard pressed to find another that is as profitable. 

We are making ends meet and have emergency funds. No credit card debt.  We did spend quite a bit of our savings with the international move and having to buy cars and such to get reestablished. So that’s where I’m a bit worried. That and it may take my husband some time to find another job making close to what we were. But cost of living in Iowa is cheap.. 

My point is that he’s taken a job that’s low paying job to allow him to be home with me and the kids vs traveling as a pilot. Sick kid, big move  and I need the help.its a 1 yr contract so that’s why I figured if we can meet that 0% captain gain tax this would be the time to do it..to cash out and not loose out on this as we would surely be back into the 15-25% bracket 2019. 

Our tax accountant seemed to think it would work but I’ll check with a tax attorney to be safe. 

Thanks Matt

Yes we have no plans on returning back to Denver.. sadly.. My husband is a pilot ( so we have flexibility of where we live ) and we had talked about moving back into the house for the 2 yrs to meet the capital gains tax requirement but heard recently it may change to 5 yrs? 

That would be a stretch with 3 small kids and it seems like a long time to be there and with the cost of living and traffic there I just don’t know.. 

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Hi Folks. 

I know the Denver market is complicated but looking from advice from experienced investors. 

Just wondering if you can help me settle an argument with my husband about what to do with our rental property we have in city park.

We bought the home in 09 and due to the economy we moved overseas. The house had been a rental since.

Now we have moved back to the states and have 3 small kids. We are living in Iowa in our modest vacation home and own a condo in the springs which isn’t doing great but breaking even.

Anyway due to the move and having 3 kids and husband job isn’t working out well we could use some extra income. We are getting by but deffeintly not ahead. Sick baby long NICU stay and such. 

I’d Ike to sell the DENVER house as we could cash out with about 300k.

We owe 172 k and could list 470k

Our accountant thinks we can get around the capital gains and get the 0% tax bracket due to his low paying job right now. Or even take a year off in 2018.

I don’t see how in the future when he gets back to his regular job we could avoid this and we would be back in that 20% tax bracket for gains.

He wants to make do with our savings and keep it as a rental as he’s sure it’s going to keep going up and we are going to loose this great investment.

I just don’t see it making gains as it has and yes maybe it will go up more but no way near the 140% it already has..

We would invest the money and get retirement stuff settled and possibly use some for a down payment on a family home once we figure out where we want to be..

We have also considered taking a home equity loan on it to make improments on or current vacation home and have some extra savings if needed. For the just in case. 

Any advice?? We just can’t agree

Thanks in advance

Corrie 

ok just did In the co real estate forum 

Thanks for the tip!

Hi Folks

I know this is an old thread and the DENVER market is so complicated. 

Just wondering if you can help me settle an argument with my husband about what to do with our rental property we have in city park. 

We bought the home in 09 and due to the economy we moved overseas. The house had been a rental since. 

Now we have moved back to the states and have 3 small kids. We are living in Iowa in our modest vacation home and own a condo in the springs which isn’t doing great but breaking even. 

Anyway due to the move and having 3 kids and husband job isn’t working out well we could use some extra income. 

I’d Ike to sell the DENVER house as we could cash out with 300k. 

We owe 172 k and could list 470k 

Our accountant thinks we can get around the capital gains and get the 0% tax bracket due to his low paying job right now. Or even take a year off in 2018. 

I don’t see how in the future when he gets a regular job we could avoid this and we would be back in that 20% tax bracket for gains. 

He wants to make do with our savings and keep it as a rental as he’s sure it’s going to keep going up and we are going to loose this great investment. 

I just don’t see it making gains as it has and yes maybe it will go up more but no way near the 140% it already has.. 

We would invest the money and get retirement stuff settled and possibly use some for a down payment on a family home once we figure out where we want to be.. 

We have also considered taking a home equity loan on it to make improments on or current vacation home and have some extra savings if needed.. 

Any advice?? We just can’t agree 

Thanks in advance 

Corrie