All Forum Posts by: Bryce Bender

Thanks @William Hochstedler, that is useful information. I'd be interested in lots in Box Elder/Weber county that hadn't been developed on but are in decent (subdivided) areas. However, it sounds like those types of lots never make it to the auction. I think it is worth taking a peak at in early to mid-April but probably not something to count on or focus too much energy on in the mean time. 

I'm also interested in the prospect of buying tax liens and appreciate the great tips given by @William Hochstedler in both this thread and the one he linked. Will, did you or anyone else in this thread ever end up attending an auction, let alone purchasing anything? I see that due to the pandemic many counties canceled their 2020 auctions. Likely making a larger supply in the 2021 year.

Thanks!

@Robin Searle

I have been running an owner occupied STR for almost a year. It's gone very well. I am curious about the "furnished rental" market that you have spoken of, and listing mediums you know of for such a thing. I've had quite a few people reach out for extended stays on our AirBnB (1-6 months long) but nothing has ever worked out (often because the Airbnb fee gets outrageous when compounded for long periods of time).

Are there other sites that are furnished rental specific? For people who focus on that market how do they find tenants?

Thanks!

@Mindy Jensen

I see, that is a fairly dirtbag type move. As a super host I've found myself stuck with people booking way in advance holidays before I have a chance to up the price. That's mad bad, and my loss. However, I'd argue that platforms like AirBnB and VRBO are already too guest friendly, and have lots of power to hurt the hosts business if they choose. Giving them more ammo isn't good for us investors. I'm sorry for your friends experience, I'd like to think most people aren't that way.

On the other side of the coin I just had this experience as a host. A lady signed up to stay at our AirBnB and paid ahead of time the pet fee. Then 24 hours before her booking she cancels, getting her booking price fully refunded as we offer. However, AirBnB's resolution center (where we do the pet deposits through) closes so you can no longer transfer funds back and forth. So now she wants me to mail her a check refunding her pet deposit, yet her bailing on the booking just a day before left my place vacant for those dates (screwing me over). However, now I'm worried she will complain to AirBnB and they'll somehow punish me as the host if I don't go out of my way to mail her a check refunding her stupid pet deposit.

But his type of worry is what we have as AirBnB holds so much over us hosts.

@Ashley Gish

@Brant Richardson gave you the best advice on here. Go get refinanced and breathe a sign of relief! Best of luck!!!

Hi all,

I have been using my basement as an STR house hack for about 2 months, currently I'm only listing on AirBnB. It's done much better than I predicted (due to the summer months probably) and I want to ensure I have all my ducks in a row for next year's taxes so I don't get blindsided.

As a live in STR (where I rent out a portion of my home) would making an LLC help in mitigating tax impact? I've kept a detailed record of start-up expenses for write offs, but will the AirBnB income be taxed at the end of the year based off of my income tax bracket? (Most of my income is W2 income, about 33% above the local median).

Please share your STR tax mitigation stategies, to make this a viable investment strategy. The more details you can share, the better!

@William McAdams Lenoir, I like the engineering and optimization approach. I'm a Mechanical engineer working in, well, rocket science. Haha. I've been meaning to make a similar spreadsheet for my AirBnB, but I might just take your and give it a go! I'll message you about that.

Again, great work!

@Clinton Davis what's the company called? Curious because there is a company like this going rampant in my neighborhood.

Hi @Cody Richard, I was inspired by that episode as well. I actually have a few other buddies from college (BYU-I) that feel the same way and we are starting to build a group together. We are working on building our "1 sheet", or, "baseball card", now as discussed in the podcast. I see you aren't too far away from me down in Provo. Feel free to DM me if still interested in being part of the group!

Regards,

Bryce Bender

@Bryce Bender, also, I've had this job lined up I'm currently in for 8 months. If you pick the right degree, you won't hunt for jobs after graduation, you can walk right into one.