All Forum Posts by: Colby Wherry

@Michael Plaks thanks for the reply! I would be doing ALL the work. My full time job is flexible so I would be able to do both. Appreciate the info!

Thanks for the reply! So if I did show a loss on an STR it could pass through and deduct from my regular income most likely, correct? Unlike my single family home rentals.

Hello,

I have read the requirements to qualify for material participation on an STR, but I only see info on hours/ work preformed. Are there stipulations on having a full time job, or a threshold of how much income you can make at your full time W2 job? I cannot qualify as a "real estate professional" because of my full time job so want to explore the material participation on STR's as a tax strategy. Does anyone know the details on this?

Also, if anyone has a recommendation for a good real estate accountant in Nashville I would appreciate it! :) 

Thanks! 

Hey Mary Beth! I am a newbie investor so won’t give advice, but your post caught my eye as I live in WeHo :) The neighborhood has grown so much already with lots of developments in the works. Construction everywhere. If you ever need anything I am right up the street! Best of luck! 

Bigger Pockets gives so much great info on how to invest with some/ or little money, but what about an investor who has money and wants to get started? What is the best way to spread out the money? Investors market is currently Nashville. Is it best to buy multiple cheaper properties to BRRRR? Buy a couple really nice rentals with solid cash flow in appreciating areas? Buy a couple beach front properties (Panama City) and Air bnb? Maybe a combination of these things depending on the property? Investor does have ties to construction and remodeling, but doesn't want to do multiple flips a year, maybe 1 or 2. *Not interested in house hacking at this time* Any advice would be appreciated. Thanks!