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All Forum Posts by: Elliott Beckstrom

Elliott Beckstrom has started 2 posts and replied 5 times.

Thank you all for the input! I have a Real Estate Attorney advising me on it now and I think from a liability perspective it makes sense to have the LLC. I really appreciate all of the thoughtful responses!

Hi! 

I have a property in Denver that I'm renting out long term. I got a letter from my mortgage company that said I can move the title into an LLC if I like without triggering the due at sale clause.

This is the only property I own in Colorado and am curious what advantages I will have by putting it in an LLC outside of limiting my liability. If anyone is versed on tax benefits or implications I'd be interested in hearing that as well.

Please let me know your thoughts. 

Thank you, 

Quote from @James Carlson:

@Elliott Beckstrom

Just circling back on this to see if you decided which direction you're going with your property. 


Thank you for the help! Yes I'm in the City and County of Denver so with the primary residence requirement the STR won't work for me. I have a 3% rate locked in from 2021 so the LTR numbers will still cashflow so I'm going that route to start and that's the route I'm going to go.

Hi, 

I'm looking to turn my first house into an income generating property and am weighing the benefits of LTR versus a blend for STR/MTR in Denver. From my research so far and conversations with a couple property managers it sounds like there is more upside on the STR/MTR side of things however it doesn't seem like Denver's government is very friendly to the STR/MTR option.

I'd love to hear some thoughts and opinions on STR/MTR versus LTR for Denver. To clarify for either option I will go with a full tilt property manager because I will not make enough time to run all of the operations on the property so I'm open to recommendations there too.

Please let me know!

Thank you, 


Post: Dropping out of college

Elliott BeckstromPosted
  • Posts 5
  • Votes 7

Jaden,

I have been in the same situation you're in right now and I understand the thoughts and feelings you are experiencing.  Honestly, sticking with it or bailing could make you happy either way.  It is true that accruing education debt is counterproductive to your real estate aspirations.  However, with your interest in architecture and the scarcity of talent in that industry, the unique skill-set that degree mandates will make you valuable.

Surely you can count the student debt against your ability to invest in properties right now; however, we are at the top of a ripping economy where "deals" may show themselves but owners will likely see a sharp decline in equity soon. Equity is where massive gains happen.  Cash flow is king but it is a sustainability factor with more linear gains than exponential ones.

To that point, an architecture education will expose you to a network of individuals who would otherwise be off your path. Many of those will include developers, financiers, and entrepreneurs with connections you will otherwise miss.  Furthermore, if you are at a tightly networked school those connections will go even further for you.

Degrees check boxes these days; however, the connections they foster and the doors they open will make it worth it when you execute on the opportunity.  If you can't, success will be difficult no matter what you do.


My .02 cents,

Elliott