All Forum Posts by: Gabriel Tapang

Not too far south of you here in Wilsonville, Oregon. 

I've been investing in long-term SFH in Oregon and Ohio since 2018.

Nice to see you on here

Have you and your client located any properties that fit your criteria? Are you restricted to Portland area only?

On the calendar. Will try to make it this time

Hi BP fam,

Getting kind of nervous now we have renters (family with kids) approved for my property in Southern Oregon that has a hot tub onsite. I've heard various opinions on opening yourself up to this type of liability ranging from "I never rent a property with a pool/hot tub" to "make sure when screening the tenants you make it a requirement they have sufficient insurance coverage" to "having a hot tub onsite for short term rentals is key."

Does anyone have any personal anecdotes or advice on this situation? Should I be ok if I just notify my insurance company that the property is no longer my primary and is being rented long term?

Thanks for any insight into this....

Anyone willing to share the name of a good tax guy in the pacific northwest area? Preferably someone who specializes in real estate and knows the laws and keeps up to date on the changes so as to know the best way to reduce tax liability for investors?

Thanks!

Thank you for the thoughtful comments. I won't be moving forward with the STR.

Definitely not here to make the lives of my neighbors worse and get into any litigation. I'll invest somewhere it is allowed.

BiggerPockets fam,

AirDNA is saying I can generate $90k in revenue per year for my 4 bd / 3 bth (+bonus office room) 2600 sq ft. house w/ in-deck hot tub in backyard. The only problem is my HOA does not allow leases for less than 30 days. I cannot locate the consequences of not abiding by these rules in the CCRs and, for obvious reasons, cannot ask them directly.

Does anyone else have experience or personal anecdotes of trying to manage an STR in an HOA that disallows? I feel like it is worth the risk if the worst that can happen is having to pay a fine and convert to a longer term lease but maybe that's just the greed talking :)

Thanks for your time!

Eventual freedom from a 9-5 job and generational wealth

@Kaylee Walterbach

Keeping it simple and mindless with automatic deductions

@Russell Brazil...I guess I could have worded that more appropriately. I just feel blindsided by the amount of the fees as I knew there were going to be fees, but didn't do my due diligence to confirm the amounts, prior. 

@Bruce Lynn...Thank you. I will call and speak to them about my options.