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All Forum Posts by: Feras Majeed

Feras Majeed has started 7 posts and replied 27 times.

Quote from @January Johnson:

@Raymond J. Rodrigues might be able to offer some insight. He's a DSCR expert.


 Thank you!

Quote from @Devin Peterson:

Hi Feras, do you have any short term rental experience? It sounds like there could be a comp issue? Is this a rural STR property?

 Hello, Devin, no i do not. This would be my first one. And yes, that's what it looks like but the thing is the property isn't exactly unique. Maybe the look of it on the outside but everything about it is a regular 3 bed/3 bath home. It is in a rural area but very close to town. 

Hello All! My partner and I found a nice property on 7 acres. We must take out a DSCR loan to purchase this property however a lender told us that the house is "too unique" and will not be able to help us. The plan was to put an offer on it, purchase it and run it as a short term rental.

Any lenders out there that have overcome anything like this? Please help!

Thanks!

Hello, all,

I'm looking into purchasing a home to make it into an STR in the Centre County PA area. Anyone have experience in this market? Anything I need to know? Airdna data looks really good! but i'm not sure how reliable it is.

Thank You!

Quote from @Luke Carl:

Anderson Advisors and The Real Estate CPA 


 Thank you. i'm just starting out and won't have that much coming in to hire them. Do you have any good ones to start with, maybe scale later on? 

Thank you, again!

Quote from @Brooklyn McCarty:

Ryan Bakke is a great tax advisor!


Also verrry expensive for someone just starting out. This is my first STR.

Quote from @Michael Baum:

Hey @Feras Majeed, just curious, you are setting up the LLC to move the STR into it?


Yes. Also to form a partnership between my partner and I then we will run the STR out of that LLC. Not sure if that's how it works. That's why i'm trying to find a professional who does this lol

Quote from @Brooklyn McCarty:

Ryan Bakke is a great tax advisor!


 Thank you! Do you have his contact information? Is based in Ohio?

Hello all, 

I'm closing on a property soon to start using it as a short term rental and need to set up my LLC but I want to make sure i have the best protection and have the best tax strategies? Does anyone have any contacts or people or companies they have used?


Thank You!

Quote from @Austin Jones:

Hi Blake. I have a STR in Myrtle Beach area (Garden City/Murrells Inlet). Feel free to reach out with any specific questions you have.


 Hello, Austin. There's a property in Murrells Inlet i'm interested in purchasing but need to know more about restrictions and/regulations? Are there any in place now there and if not have you heard of any changes? I can't find anything online.


Thank You!