All Forum Posts by: Carl N.

Once the 365 days are up do you see an issue in getting the permit? Will those 1,225 a year be met? Trying to understand the likelihood of being denied all together.

Thank you for all the feedback. They came back to me with such a lowball number for the master lease program it wasn't even worth discussing.

@Matt Schreiber any updates on how this is going? Recently spoke with them about their master lease program for my STR in Oceanside. I have no interest in looking at their shared revenue model but figured I would look at what they had to offer for this model.

 @Wayne Brooks got it. Thank you Wayne.

Thank you everyone for your feedback. I came to this forum as I thought people would contribute valuable info without casting dispersions. I was looking for advice on loopholes in this such as one looks for tax loopholes. If you don't have any, that is fine, if it makes you feel better to make assumptions that is fine too. I, personally, wouldn't sit behind a keyboard and throw stones but I guess that is just me. Good luck in 2023 everyone. 

If I am in long term area but want to operate as an STR am I able to create a sublease from a long term lease that I can then lease to people for under 30 days. A property management company mentioned this as their work around saying they have guests sign a lease stating they are subleasing from them.

@Steve K.@Jeff Nash Thank you for your responses. To be clear, the only part that is hypothetical is the last part of selling my second property and finding a lower cost 3rd property. While I understand this would not put me free and clear of a tax burden per "like Kind" description, I am trying to understand the calculation method. I am trying to reduce my debt burden so am willing to take a tax hit(depending on the size of it). Hoping that clarifies my question but if not please let me know. Thank you again for your help.

I am trying to understand what my potential tax implications would be in this example scenario.

1st property purchase:

$600k with $150k down 

Sold for $932,500

2nd property:

Purchase price $1,925,000

$385k down  

Sold for $2.25m  

Now let’s say I want to get a smaller property after that. Maybe $750k. 

What is my tax exposure and how do I calculate it?

I figured as much but can't figure a way to make it a pass available to all. Appreciate the feedback.