All Forum Posts by: Cody Shepherd

Hey Travis! 

I work as an Estimator for a home builder in Des Moines. I previously worked for a builder that built in Cedar Rapids as well. I hope you were not hit too hard by the Derecho!

I use excel for organizing most of my work and have gotten pretty good at estimating without the fancy software by having an accurate set of architectural drawings and PDF pro (measure tool) to pull dimensions and figure material.

I recently watched a youtube video showing Rehab valuator software that creates the checklist and allows you to enter bids into the software to reference later. The brief overview looked helpful but I have not had much time to review further. Link below

https://rehabvaluator.com/upgrade

If you want someone to review your checklist to make sure it is all inclusive of costs, I could be of some help. Just send me a DM.

I built my own house 3 years ago and was the GC. It was a lot of work but worth it in the end. I hope your project goes well!

@Sean O'Keefe

Will do!

I'll consult my CPA

I was wondering if anyone had experience with a STR rental within a duplex or triplex

Hello Investors!

Looking for insight.

I am currently househacking a duplex i purchased in March and remodeled. I live in one side and rent out the other. During the remodel of one of the units I closed off the entrance to the lower level and created the opportunity for a triplex using the back entrance.

I have thought about turning that unit into a STR as I am near the airport.

Another layer... my wife is pregnant and due in January. Next year she can qualify for the tax status of real estate professional when managing the air bnb.

Saying all that, is it possible to utilize the real estate professional status on this triplex for 1 of the units? How would that work?

I'm looking into a cost segregation study on this property to accelerate depreciation as well.

Thanks!