All Forum Posts by: Amit Shukla

What is your biggest pain point with STRs right now? We are working on more resources to help new and experienced hosts here at BiggerPockets. Real feedback of struggles or topics people want to dive in further helps us create the content that truly inspires and educates our community.

Mine is definitely finding the right deal that fits my buy box lately. It has been frustrating but it also is a positive as I now can quickly know what deals to not even waste time on analyzing.

What is your biggest struggle?

You hit right on the nail. I spend so much time finding the 'right' properties across multiple markets on Zillow before I even evaluate in my buy box. I wish there were more 'filters' / Criteria that you can filter by in real estate website to find what you're looking for.

2 Votes

Let's say you buy a property for STR in 2024 and take accelerated cost seg benefit. Then you sell it in X years (3,5,7,10). Do you have to return the savings back to IRS if you sell it before 30 years?

1 Vote

Thank you, Zack! But I'm looking for the Bank Names and not 'how" to approach. If you know the banks that lend to subsidiaries LLC and understands that an LLC can be owned by another LLC, please let me know.

1 Vote

Hello,

We moved a property from under my name into an LLC. Property and LLC are both in Texas. We also opened a Holding company in WY. And the Texas LLC is owned by WY holding company.

If you have a similar structure, can you please suggest the bank that you went with to open Texas LLC account? From what I read, the big banks like BoA, WellsFargo will not open account for a subsidiary LLC. Looking for a bank suggestion that you went with and was successful in opening the account.

1 Vote

I called Autohost. They do not accept anyone on their platform till one have 25+ properties. Bummer

1 Vote

Quote from @Mitch Davidson:

Hi @Amit Shukla. Here's my 2 cents. When shopping for such a policy recently, after looking at tons of them for clients I worked mortgages for, I chose to avoid the priciest options like Proper. I felt like I was too unlikely to use some of their extra stuff, such as lost rent. And I also realized that I wouldn't make a claim unless I had a major loss anyways, as it'd likely make my premium skyrocket (and would perhaps make the provider not want to renew at the end of the year). I've seen quite a few people use Auto Owners for STR policies recently. I'll message you contact info for a local agent that can give you several options to consider.

Thank you, Mitch!

0 Votes

Looking for an insurance policy for an STR in Asheville, NC. Based on the recommendations in this forum, I got quotes from Proper, CBiz, and Foremost. As kind-of expected, Proper quote is double of CBiz and triple of Foremost quote. In order to compare them apples to apples, I'm planning to review them and also talk to the insurance agent of all three companies.

My questions:

1. What should I look for in the insurance that are must-haves and should compare it?

2. What questions should I be asking the insurance agent to understand what they are offering and what to add / remove from the policy?

3. Are there experts in our group here who can help compare the quotes?

0 Votes

Anyone have any experience with Autohost? They do guest screening, security deposit, rental agreement etc.

0 Votes

@Mitch Davidson I purchased a property recently and closing in May. Is it true if I rent it out on Airbnb for at least 2 days before the 100 days are over, I should already be grandfathered in?

0 Votes

Asheville, North Carolina

All Forum Posts by: Amit Shukla

Amit Shukla has started 12 posts and replied 35 times.

Post: Furnishing list link

Post: What is your biggest struggle in the STR world right now?

Post: Do you have to return Cost seg benefits if you sell

Post: Bank account for Subsidiary LLC

Post: Bank account for Subsidiary LLC

Post: Anyone using Autohost.ai?

Post: Tips for reviewing the insurance policy?

Post: Tips for reviewing the insurance policy?

Post: Anyone using Autohost.ai?

Post: New STR Restrictions Coming for the Asheville Area