All Forum Posts by: Ian Bollinger

Good Evening,

I have a few local long-term rentals that I self-manage on the East Coast. I've been looking to branch out to a few different areas on the East Coast that would necessitate a property manager but Texas and its heavy investment in business, including the major tech investments in the works around Sherman are very intriguing. With all this investment bringing in business, high-paying jobs, etc over the next few years it seems like it's a solid potential opportunity to get in. I'd love to hear some experiences on Sherman or even Mckinney with long-term single family rentals. 

I'd like to stay under 400k, am I too late to the party? Happy to hear any investor realtor or property manager recommendations in the area. 

Thanks in advance!

I always planned on making it a LTR since its in Baltimore City but have considered making it a short-term rental (at least for year 1), qualify for material ownership and ensure avg stays are 7 days or less so it would no longer be considered passive. Then a cost seg / bonus depreciation of 60% (2024 limit now) would allow me to write off significant losses on my other active income without having the income restrictions that we have on passive losses. 

Seems possible but also sounds very complicated and definitely need to be careful to follow the guidelines. 

It's a consideration for sure but I've already been depreciating my 2 LTR properties on a normal schedule and was more focusing on a cost seg study strategy on a new purchase.

I could, however try a cost seg study on my current primary residence once I transition it into a rental in 2024. 

Anyone have any experience purchasing investment properties with a partner? Things I am considering with a 50/50 split: 

- LLC creation before or after purchase? Due on clause risk shouldn't be any different than transitioning my own personal property to my LLC but could be a factor

- Purchase property 50/50 as "second home", then rent out? 

We'd ideally like to go after STR/LTR properties and if it goes well grow the portfolio over the next few years. Would like to year some experiences focusing on the purchasing and LLC legalities.

1031 Exchange into a DST is an option as well.

I currently own several long term rentals and the goal is to branch into commercial real estate in the next 1-3 years and I'm looking for recommendations on finding good properties with the potential to cash flow. I've used Loopnet in the past but I've found many listings are way outdated. I'm located in MD but open to something out of state as well if it's the right deal. 

It is my understanding commercial real estate hasn't been booming the past few years like residential has and this next year might be a good opportunity to find something at the right price. Hoping for some inputs and advice from those who have made the transition from residential to commercial. 

Thank you!

I own several long-term rental homes in MD and have been doing some research into trying a STR. I have been looking in the Tampa, Savannah, Charleston area, doing my own research and working with a local realtor. I have come to understand these are very challenging places to find a potential Airbnb due to both local regulations and HOA/insurance guidelines. I noticed that the majority of Condos/Townhome communities were ruled out due to this. Risk Factor has been helpful for identifying flood risk for various properties. AirDNA and other similar sites label these areas as high demand for short-term rentals and I always figure it can be turned into a long-term rental if it doesn't pan out. Prices in these areas look to be double - almost triple from 2020 and I am concerned I could potentially be buying something inflated/overvalued in the 400k-600k range at the end of the boom.

I've been learning about the potential for declaring an active loss (not limited by passive 150kAGI/25k loss rule) on a STR if you carefully prove material ownership + Avg stay 7 nights or less. This strategy along with the first year bonus depreciation strategy (60% now for 2024) are quite intriguing.

Anyone have experience purchasing a rental in one of these areas recently - specifically a STR? Would love to connect!

Thank you!

Hello,

I'm new to the site and thought I'd come out asking for insight in a current decision I am in the process of making. 

I own 2 homes in Canton, Baltimore City and will be living in the one I just bought. I first purchased in 2018 for 315k and have about 260k still owed on the mortgage. Looking at comps I think I would be able to get 325-330 if I sold this spring/summer. I wouldn't walk away with much more than I put down closing in 2018.. but the values in Canton have been very stagnant the past 10 years compared to the suburban areas in MD and I worry about the future, especially the risk of owning 2 homes in the city. This seems like the time to sell if you're going to sell. 

That being said, I could rent the house fairly easily to cover the mortgage and a little extra and don't mind the extra hassle. My biggest concern is the future of Baltimore City and the housing values in Canton.. tied with the fact that they are over 100 year old row homes, although both in good shape/renovated over the years. The 2nd concern is I have both dice on one neighborhood in Baltimore City and if things go down the chute they will together. Unlike the confidence I have in home value growth, I do have confidence there will be a strong rental market for years to come due to the prime location by Hopkins and many other hospitals/companies. 

I appreciate any insight / experiences shared.