All Forum Posts by: Eric P.

Hi All! Still trying to lock down a tax pro who is familiar with the STR strategies, but in the mean time- I've got some questions. I just started my AirBnB, it's a full time investment property. According to most everything I've read, I'll be filing schedule c on taxes. It is my understanding that I will not be subject to self-employment taxes because I don't think I offer any substantial services... Still not sure about that one.

With that being said, we just finished the rehab and furnishing.  I’ll have a couple bookings this month, but tax year 2019 will be a huge loss with all the expenses.  Will I be able to deduct the loss against my main source of income? As I understand, schedule c is active income not passive, so if I am able to deduct losses from this AirBnB against other income AND not pay self employment taxes, that would be great!  Any help on the subject is greatly appreciated! 

How would you handle a guest that was unable to reach your STR due to road conditions or their vehicle's ability?

My STR is located up a steep road on a mountain outside of PForge. My last reservation was my first one that had issues and I know it will come up again with snow and ice this winter. My listing makes it very clear that you will have to navigate a steep mountain road and that I don't refund do to inability to reach the cabin due to road conditions, but how do I enforce that without seeming like an a**hole and getting a poor review? I wish Airbnb offered a trip insurance to fall back on in a case like this.

So I just recently started looking on AirDNA to see what average was in my area for STRs. It looks like occupancy average is 35%-52%. Is that good? I’m just outside of the Flint Area in Michigan. I’ve searched about 30 miles out and that’s the average. I’m just wondering if I’m in the wrong area to be attempting this. (I’m still very new and gathering info before I jump.)

I would think their comments are slander - and that's not allowed.  I even asked "If they state that there are cameras inside of the home.. Wouldn't it be your job to temporarily suspend the listing and look into these claims? Because if that were true, and someone were to post these videos of inside the home, I would think that VRBO would be held liable for this since they didn't look into it."

I would love to start Airbnb some time in the future, but I live in Brooklyn, New York which has strong rules and regulations against STR. I don't mind starting else where, but how should I go about it? Where near me do you think would be more accepting to STR? I was thinking Connecticut, New Jersey or maybe Long Island.

I have some LTRs in Charlotte NC, want to get into STR, looking for some guidance on how to get started.

Should I start in Charlotte or pick tourist spots like Great Smokies or Asheville or beach properties..where should I start learning the ropes.

I’m having trouble settling on a place to look for a short term vacation rental. I currently live in NY and would be using a management company so I am open for any state/city . I’m looking In the 300k-500k range. What areas are booming at the moment ? Ive been looking in Arizona and Colorado. Any advice would help!

There has been no posts to the evicting renters that is pinned to top for 4 month's. But we get non-stop newbies looking for Arbitrage and non-stop newbies looking for advice to get started.

what if we pinned an Arbitrage/Master Lease thread and a new to short term rental thread on top and unpinned the evicting thread?

it seems we spend endless time wrangling with newbies who think Arbitrage is the way to riches and other newbies who want advice on how to get started. I don't see a lot of people wrangling for how do I evict someone on these discussions