All Forum Posts by: AJ Satcher

But your portion where you say I'm not missing tax writeoffs with an LLC, I don't understand. Can you elaborate? What are the advantages of the LLC with respect to taxation then?

0 Votes

I have two properties that are currently not in an LLC. One is a SFH and the other is a house hack I'm living in. Is it okay that I create an LLC and manage the revenue and expenses for these properties through the LLC? Or do the properties have to be transferred into the LLC first for me to do so?

There are a lot of tax write offs I feel like I'm missing out on by not operating through an LLC and having a separate business account.

Thank you

1 Vote

Quote from @Bob Stevens:

Quote from @AJ Satcher:

Hello all,

I'm in the process of closing a deal, so far I've had 2 inspections.

First inspection - Necessary. Items were brought up by inspector, no questions about getting this one.

Second Inspection: To address some of the major concerns from the initial inspection. Only around half of the agreed upon items were completed.

Third Inspection????: Trying to decide if it's still worth getting this one. This would be to address the items that were not taken care of in the second inspection.

Major items include:

- Insufficient attic insulation

- Back deck work (flashing, damaged joists)

- Plumbing leaks in a bathroom

- AFCI braker switch not working

etc.

At this point they've proven to me that they are not interested in doing what's agreed upon. Do I pay for yet ANOTHER inspection to protect myself or is this a waste?

Thanks BP community!

I have never had even one in all my 500 or so deals. Just have my guys walk it. Now if you are using a loan well you do not have any other option. However, all you need is ONE, after your team walks it. If you need more, you need a better team

All the best

Hi,

I'm using FHA for a house hack. I don't have a very big team and I have one solid handyman that I'm confident with.

0 Votes

Atlanta, Georgia

Quote from @Adam Martin:

Quote from @Chris Seveney:

@AJ Satcher

Have them provide a invoice with the work showing it’s been done (they can blank out the cost), if they don’t have one assume it’s not done and save your $

This. I’m not paying my inspector to keep inspecting. When we agree on repairs I stipulate it must be done by a licensed repair company and I get a receipt. This way I know it was done and I double check the day of closing. The only time I had an inspector come back is because he found raccoons in the attic and said he would t go up there until they were gone but would come back for free when they were. Fair enough I’m not going up either.

LOL. Thanks for sharing

0 Votes

Atlanta, Georgia

Hello all,

I'm in the process of closing a deal, so far I've had 2 inspections.

First inspection - Necessary. Items were brought up by inspector, no questions about getting this one.

Second Inspection: To address some of the major concerns from the initial inspection. Only around half of the agreed upon items were completed.

Third Inspection????: Trying to decide if it's still worth getting this one. This would be to address the items that were not taken care of in the second inspection.

Major items include:

- Insufficient attic insulation

- Back deck work (flashing, damaged joists)

- Plumbing leaks in a bathroom

- AFCI braker switch not working

etc.

At this point they've proven to me that they are not interested in doing what's agreed upon. Do I pay for yet ANOTHER inspection to protect myself or is this a waste?

Thanks BP community!

1 Vote

Atlanta, Georgia

Quote from @V.G Jason:

Rent each by the room. go 2/1 on 1 and 1/1 on the other. Otherwise, maybe you entered too liquid of a market?

2/1 with 1/1 AND rent by the room have for sure been on my mind!

However I just have concerns over two things

1. Having to potentially deal with different tenant relations in an enclosed space

2. If I commit to this and maybe the 1/1 doesn't get rented for the month. OR if I do by the room, and only 1-2 rooms get rented for the month. Then the home is not fulfilling its potential in revenue

0 Votes

Atlanta, Georgia

Quote from @Nicole Heasley Beitenman:

Is FF the only site you're marketing on?

FF and Facebook at the moment. Preparing my systems for Airbnb currently.

0 Votes

Atlanta, Georgia

Quote from @Account Closed:

Quote from @Bonnie Low:

3/2's can be tough - especially on Furnished Finder. It was originally a site targeted at travel nurses and while some do rent by the room, most prefer their own space if they can get it and when they do rent by room they don't want to pay much for it. Those characteristics might not match your property. What research did you do before deciding to make it an MTR? If you'd like to post your listing people here could make suggestions and possibly help you figure out what, if anything, needs to be fixed and if there's a more suitable target audience for you.

Agree with Bonnie re: FF. Have you tried airbnb? Could also convert a bedroom to an office and market as a 2/2/ with an office, maybe that'll appeal more to working travelers? Could just be not enough demand for 3/2 among traveling professionals in your area, have you considered STR?

Absolutely, will be listing on Airbnb soon, I am just getting my systems in place currently before I got live.

I have definitely thought about a 2/2 with office space. Just figured I'd be able to capture more revenue with a 3/2

1 Vote

Atlanta, Georgia

Quote from @Chris Merchant:

Just a question here, are you opposed to a long-term rental? If medium isn't renting have you at least tested the waters to see about long term? Is there a specific reason you are looking for medium?

Would like to hear the benefits of MTR vs. LTR.

1. I think MTR is more profitable

2. I feel there's a bit less risk involved. One in terms of tenant responsibility and two being repairs (higher chance of larger repair items in LTR)

3. I've tried MTR in the past while I was traveling and it worked out great. I secured 3 different tenant within the span of about 4 months. So right now I'm just sticking to what I already know and am comfortable with

This isn't an all inclusive list, but just some of the major items I can think of.

1 Vote

Atlanta, Georgia

Quote from @Jamie Banks:

Hey AJ, sorry you’re having trouble with your listing. Defining your audience is really important when marketing your rental. Having a larger property, your target audience will be relocating or displaced families, corporate clients, and/or groups of digital nomads or professionals traveling in groups. Does your property have the proper amenities set up for these groups? I’d also recommend throwing it on Airbnb as well and setting the minimum days to 30 days. The more sites your on the more visibility your unit gets which leads to more bookings. Also, consider reaching out to relocation and insurance companies directly to list your property in their housing database.

Hey Jamie, thanks for the response. I definitely plan to put it on Airbnb. Right now I am just getting my systems in place before I go live, because I know STR are a bit more active. In the meantime, I'm just preferring to secure a MTR tenant for this home to take the stress off a bit. I am about to close on a house hack, and that one will require some initial setup efforts because that one will be a STR on Airbnb.

0 Votes

Atlanta, Georgia

All Forum Posts by: AJ Satcher

AJ Satcher has started 49 posts and replied 109 times.

Post: Necessity to Transfer Properties to an LLC?

Post: Necessity to Transfer Properties to an LLC?

Post: How Many Inspections is Enough?

Post: How Many Inspections is Enough?

Post: How Many Inspections is Enough?

Post: Troubles Finding a MTR Tenant After a Month

Post: Troubles Finding a MTR Tenant After a Month

Post: Troubles Finding a MTR Tenant After a Month

Post: Troubles Finding a MTR Tenant After a Month

Post: Troubles Finding a MTR Tenant After a Month