All Forum Posts by: Shawn Regnier

Hello @Sean O'Keefe if you wouldn’t mind sending a copy to a fellow “Shawn” it would be greatly appreciated!

Thank you sir. 

Thank you @Michael Plaks

Sorry for dragging you into this thread, but in retrospect, I'm glad I did! :)

Thank you, @Zachary Jensen

Can you shed any light on this? @Michael Plaks

The guest from the podcast I mentioned above transitions her "doctor" clients from STR to MTR at the turn of the new year, right after they purchased/converted to STR the previous year right before the year ended. She's not waiting a full year to turn them into MTR's.

Thank you @Sean Graham and @Account Closed

Zachary, regarding your statement: "However, for the strategy to be effective, clients must ensure that they meet all the IRS requirements, such as maintaining the short-term rental for a sufficiently long period and passing one of the material participation tests (e.g., 100+ hours of active participation)."

Let's assume they do not transition to a vacation home, but opt to turn it into a mid-term rental. Would your statement above still qualify them? You said "maintaining the short-term rental" so I want to make sure mid-term works also in their case.

Hello Everyone,

I recently heard a guest on Brandon Turner's newest podcast discuss their STR strategy when working with Doctors. The gist is that their clients (primarily doctors) purchase homes at the end of the year, turn them into short-term rentals, and switch them to mid-term rentals at the turn of the new year. This allows them to bypass the REP status since they are full-time doctors and cannot meet the standard. Then their clients do a cost segregation study because they benefit from being high-income earners. Yes, I know bonus depreciation is 60% for 2024.

My questions:

1) Does this sound valid, or are there many more complicated steps for this to work?

2) What would happen if someone used the above steps, and instead of transitioning to an MTR, they got out of the rental gamer and turned their property into a vacation home? Would they still be able to cost seg the property because it was an STR for a few weeks in December?

Sorry for my cluelessness on this topic. I've read many other posts, but none fully answered my questions.

 Hello Dawn, that sounds great; thank you for the offer. 

I sent you a connection request. Let me know how/when you would like to communicate.

I have clients looking for a construction lender for a property in Key West, Florida. If anyone has someone(s), please point them my way.

Thank you!

ChatGPT, please rephrase the same content 100 times and make it sound human-like.

 Everything is always about money and greed versus doing the right thing.

Thanks for sharing @Jared W Smith

I'm sure HOA will try to get out of this as cheaply as they can, so she'll face similar resistance. The attorney seems like the route that should be taken, once the HOA comes up short on their offer. Thanks for the quick reply @Richard F. and I'm saddened by what is going on in your neighboring island.