All Forum Posts by: Chewie G.

@Ashish Acharya Thank you for the reply. This is helpful.

Can anyone share the activities you log that will count for real estate pro status? We are buy and hold investors so the areas we document focus on Rent, Operate, Manage and Lease. I'll add Sell in there too but not at this point. We are looking for a more detail specific list to make sure we are not missing anything. Thank you.

Can anyone share the activities you log that will count for real estate pro status? We are buy and hold investors so the areas we document focus on Rent, Operate, Manage and Lease. I'll add Sell in there too but not at this point. We are looking for a more detail specific list. Thank you.

thank you!

Paul - you should write a book. With a story that what you wrote here, I bet you have others that are just as entertaining.

Hi Paul- I think you have a great plan. A few months ago we did the same thing when a small hotel closed; new TV’s and some other goodies on the cheep. Short term rentals will be the downfall of the small motel unless they learn to adapt and change. Good luck. 

@John Underwood - are you saying that because you have a W2 job the IRS requirement for a 1099 with a $600 limit does not hold true? I am also a W2 employee but my CPA said I did have to issue a 1099 for work done on my rentals. Should I fire her? :)

My housekeeper does issues invoices once a month and I pay her via a mobile cash application. This way she gets paid right away and I'm able to track it in my bank account/quickbooks.

Ryan - suggest you ask for a list of what you get for your 22%. Once you have that then figure out how that would impact your bottom line. You may be able also negotiate a "pay for performance" model by offering a greater percentage based on occupancy and guest feedback.