All Forum Posts by: Dhruvrajsinh Parmar

Hi all,

Me and my friend just bought a house upstate New York for a STR. We want to get it online but last pending piece is tax information. Airbnb only allows one listing host and other person has to be co-host. It seems however that only listing host gets full tax document  and co-host only gets income provided by listing host. In this scenario say for example :

For Listing host :
Income : 100$
Expenses : 50$ (Co-host payout, lets ignore Airbnb fees for now)

Cohost :
Income : 50$

In this scenario wouldn't the listing host have an advantage as they get to report expenses on income compared to Cohost ? Any certified CPAs in forum or any advise is appreciated.

Thank you so much everyone for the great replies and advise. Really helpful. I also saw a few articles trending today indicating STR revenue implosion such as this one and this one . Those I take with a grain of salt. As for partnering other things this is what my thought process is

1] Low Cashflow : I agree cashflow might be really low or none with 3 people on a STR with single family but we are just trying to get a foot in door and get started.

2] Partnering with friends : Yes I agree this comes with inherent risks and I have been hesitant of it in past but I am taking this as an opportunity to learn. We are hoping this minimizes our risks and we will have agreement in place

3]"You could buy a lot more at 3.5%, or even 5%, down vs 20% for investment." <-- True we were trying to avoid paying super high interest with more downpayment but your point makes sense. It is also hard to beat the market to start investing. All of us have RSU stock options and with current fluctuations of all stocks we want to diversify our investments

Hey all investing newbie here. Me and 2 other friends are looking to get started on our real estate investing journey. We each have funds that we would like to diversify. We are currently looking at single family home in the area around 300-400k with 20% down and STR potential. We have been told multiple people(mostly lenders) that we might not see cashflow with 3 people unless it's a multi family unit. We are aware of this but we still want to start small to minimize risk and slowly expand. Any advice/thoughts are appreciated.