All Forum Posts by: Ian Tyndall

Wow, I thought that California was all for the ADUs to reduce housing pressure!

You did a great job decorating it and photographing it! 

What is the total value of the THOW (sorry I see it in the listing $89k) and how many remaining payments do you have?

You are correct with the rate for 2024

https://www.nolo.com/legal-encyclopedia/50-bonus-depreciatio...

The revision to the schedule is tied up with the US House of Representatives. The package passed the Senate and received a lot of news coverage because of it the Child Tax Credit that would have benefited tax filers with kids. The trade off that republicans made were to extend business benefits mainly R&D expensing and bonus depreciation. 

Critics in the house don’t like the fact that the Child Tax credit relies on past year earnings and people who don’t pay any tax can qualify for a direct payment. With the divided Congress that can barely keep the government funded, I have personally given up hope that it will pass. Its best chance was Jan - Feb. At this point in a presidential election both parties will probably view a compromise as weakness. 

I agree with Devin above. What I find is just take screenshots of the old reviews and included them as pictures in my new listing. That way potential visitors had some social proof that the place was decent 😂

Pretty respectable source’s research “found that short-term rentals are not the biggest contributor to high rents, especially when it comes to the most vulnerable segments of a city’s residents.”

https://hbr.org/2024/02/what-does-banning-short-term-rentals...

Tej,

You might want to search on bonus depreciation outside the United States. A quick glance appears that it only applies to assets held in the US. Congress’ intent was to spur investment in the US in the 2017 TCJA. 

True. Material participation for STR test is what I was getting at

You will not be able to deduct in 2023. Create deferred expenses that will carry over in 2024 once you have the asset in service. 

Check with a local real estate agent to find out what they know about the place. Like it was stated before the neighbors could be an issue or there might be something regulatory on the horizon that is a threat. 

That being said, I have purchased two previous STRs that started cash flowing in 30 days and they are awesome. One case the owner was cleaning it herself and was tired of the work. The other case the owner was over extended and could not manage it well. The neighbors at the last location weren't thrilled that we were keeping it a STR but they have been respectful.

I signed up and am now one of two listings in the continental US. 

As a host you can approve charging requests. The payouts are pretty high. I offer a level 2 charger which is better than than the free chargers but not a super charger. In a rural area we might get some folks who are lost on their way to D.C.!

I have EV chargers at two properties that never get used. 

I can try this out on the days that I am not renting the houses, but I doubt anyone would want to park at a residential home and charge their car unless they were near 0% and desperate for a charger 😂