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All Forum Posts by: Gururaj Iyer

Gururaj Iyer has started 23 posts and replied 108 times.

Quote from @Michael Baum:

Hey @Gururaj Iyer, on the LLCs, is everything currently in an LLC?


 Hello, just have 1 at the moment - however do plan to have more and structure for maximum asset protection 

Hi, seeking a tax professional or company who can take care of filing taxes for 2022 , Also need help with 2021 . STR portfolio consists of 5 Active listings spanning across NJ, PA & VT. The intention is to have someone knowledgeable assist in Tax planning & consults at the same time help with restructuring via LLCs( aware that it may need a RE attorney ) . The portfolio is growing but not there yet to afford a super expensive accounting firm , preferring to stay within reasonable rates until we can grow the portfolio alongside.

Post: STR Property Mgmt

Gururaj IyerPosted
  • Edison, NJ
  • Posts 110
  • Votes 33
Quote from @Charles Carrillo:

I recently launched an STR in Connecticut and so far it's going well. I am using Evolve a property management company. However, I am the guest contact so I am planning on letting them go because for what they do it doesn't justify 10%. Has anyone used them and then let them go. I'm curious to know how the process goes.

Definitely make a backup listing and start onboarding the guests to yours before you send them a intent to cancel notice -  They would definitely try to convince you otherwise or find reasons to hold payments 

Post: STR Property Mgmt

Gururaj IyerPosted
  • Edison, NJ
  • Posts 110
  • Votes 33

I have used them and would NEVER recommend for anyone to use them ! They are atrocious for the 10% and hard way learnt - they do not do anything to add value. On the contrary their policies are extremely guest centric - last thing a homeowner needs is their own property management company not supporting them in scam like situation. This was when I had 1 STR and I have learnt the hard way that self managing or placing someone local - ( cleaner/handy man or even a co-host) is the way forward.

If you really need to be hands off - definitely find someone local - it may cost more but it will be well worth it. As for Evolve - run as far away from it as possible

Hi, seeking a tax professional or company who can take care of filing taxes for 2022 , Also need help with 2021 . STR portfolio consists of 5 Active listings spanning across NJ, PA & VT. The intention is to have someone knowledgeable assist in Tax planning & consults at the same time help with restructuring via LLCs( aware that it may need a RE attorney ) . The portfolio is growing but not there yet to afford a super expensive accounting firm , preferring to stay within reasonable rates until we can grow the portfolio alongside.

Post: Surveyors & Barn redevelopment work - Stowe , Vermont Area

Gururaj IyerPosted
  • Edison, NJ
  • Posts 110
  • Votes 33
Quote from @Kathleen James:

Also, let me know if you need help with permitting. If there is no waste water permit, Tyler Mumley at Mumley Engineering is also highly recommended. https://www.mumleyengineering....


 Thank you !

Post: Surveyors & Barn redevelopment work - Stowe , Vermont Area

Gururaj IyerPosted
  • Edison, NJ
  • Posts 110
  • Votes 33

Hi, looking for references for surveyors & contractors  in the Stowe, Vermont area. Looking to initiate a Barn redevelopment project this year or possibly Spring 2023.  Any references greatly appreciated ! 

Post: Poconos STR - Thoughts?

Gururaj IyerPosted
  • Edison, NJ
  • Posts 110
  • Votes 33

Hello, I own and operate in the Poconos as well. I can tell you for sure to avoid the marketing which companies like Evolve put across - their numbers are heavily skewed. I own in Lake Harmony as well and I can tell you for a fact that the numbers this year for all of the home owners/hosts are nowhere even close to 2021 !  Talk to as many actual folks who are themselves having "boots on the ground". Poconos is a hot market however it has its own pitfalls - especially in a lot of counties you would see inventory piling up due to restrictions being imposed 

I was with Your Porter and still a part of the Guests for Hosts post their takeover. I agree there are a lot of glitches however when I started on a path of chosing alternatives found out the harder way that companies like Hostfully are far far worse.. 

I am with guests support a lot of times & they fail to replicate my issue however with the cost and other benefits , I am chosing to stick with the lesser of the evils . One thing I can tell you for sure is to totally avoid Hostfully,  their reps are class apart when it comes to conniving strategies and learnt the harder way that their VRBO integration is extremely poor

Totally avoid Hostfully ! Highly unprofessional and unnecessary expensive !  They will try to coerce you into onboarding with a hefty subscription - throw some penny discounts & take 45 days to onboard. The moment you try to cancel they would take half of that amount as retaining fee

A company dealing with such ethics are not to be done business with