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All Forum Posts by: Tom Rairdon

Tom Rairdon has started 3 posts and replied 4 times.

Post: Tax considerations when selling a short term rental

Tom RairdonPosted
  • Investor
  • New Hampshire
  • Posts 6
  • Votes 2

Hello all,

Has anyone sold a short term rental owned over a year  as a non real estate professional that qualified as short term capital gains tax deductions with expenses and depreciation? Did the proceeds from the sale count as short term or long term capital gains? I’m in the 33% tax bracket through my real job and this could be a big difference in taxes owed if we sold the property? Thank you for any advice. 

@Justin Pumpr

I use home river group. They were formerly boardwalk. They’ve always done a great job for me but I’ve only had two rentals with them.

Post: Update to experience

Tom RairdonPosted
  • Investor
  • New Hampshire
  • Posts 6
  • Votes 2

I wanted to update on my experience. The local market specialist referred me to another property manager and it has been much better since then. He also made sure that everything was going okay for me and wanted to make me happy. It has been a long road to get this property up and running but it seems to be going well now.

As for Jason Hartman's group they also tried to refer me to another property manager and they seemed frustrated with the St. Louis properties and how they were managed as well. It seems like they are not used to this being the norm. Jason has alluded to this in his podcasts.

Post: Buying first Property Questions about Owner Renovations

Tom RairdonPosted
  • Investor
  • New Hampshire
  • Posts 6
  • Votes 2

I am under contract on a 4 plex that had a owner occupied unit. He has renovated 3 of the 4 units with the last one about half finished. Should I be worried about the owner (who is a contractor/construction guy) doing all the renovations without permits from the city/county. The property is in San Antonio Tx. I am getting it inspected today and should have the report on it this weekend. Thanks to all. This is a great forum!