All Forum Posts by: January Johnson

Awwww... Your overcompensation is showing.  Might want to tuck that (and your TWO years of experience) back in.

I guess if you consider doing 80% MORE investor business in 2024 than I did in 2023 "slow", okay then... ha ha ha.

But hey - if people like you insist on being a complete jerk here, showing everyone exactly who they are, as Mel Robbins says, I'll "Let them".

Who are you, again?  Too bad we'll never know...

Or his whole name.  Or his investment/local area. 

Jeezus. 

Wow.  Just...WOW.

I guess that kind of vitriol is to be expected coming from someone who doesn't even have his own picture in his profile.  Hiding, much?

This is all great advice!  I also suggest you post your listing to "Short Term Rental Listing Advice" on Facebook and let them give you more feedback as well.  

(I lived in Houston for 29 years--last place was the Rice Lofts downtown.  I now sell STRs in FL.  Good luck to you!)

He'll still be renting - just from you instead of others, and at all the costs to you that you have enumerated.

Your son doesn't "need" to buy a house.  He likely needs to stay where he is, save up money for a downpayment on his own, and buy when HE is ready.

He's not ready. 

"Good about deductions" sounds a lot like "doesn't make enough money to be a homeowner", so he should keep renting from someone else, and you should do what you're going to do with the money and wisdom you earned.

Of course I don't know your son, but I think this is too dicey and you are too close to the situation.  

You can tell him the people on BP think it's not a good idea.  I'll be the bad guy for you.   ;  )

Kudos to you for wanting home ownership for him, though.  But let HIM earn it.

Some confusing points here.

You said it was an investment property, and then you said you live in it.

As you know, you cannot 1031 a primary residence, but a 1031 does kick the capital gains can down the road. 

It's just not clear what you are actually doing here. 

Have you tried using Turno?  Any luck there?

If you're looking to get into STRs, you need @Avery Carl's book, Short Term Rental, Long Term Wealth, published by BP.  Her new one comes out next month as well!  Lots of great FREE resources on The Short Term Shop social media and website as well!

Personally (as a STR-focused REALTOR), I would never give you numbers and tell you you can hit them. You'll have to run them yourself according to your goals, timeline, and financial situation. CoC can be easily manipulated, for example.

A great REALTOR will help you gather rental history and the cost to own and show you good sites for pulling rental projections, but you will need to do your own calculations.

Everyone's mileage varies.

I sell STRs from Destin to Cape San Blas, FL - the Emerald and Forgotten Coasts - for The Short Term Shop/Avery Carl. No one here makes guests bring their own linens.  Hosts either have a linen service (or the housekeepers do), or they provide 3 sets of linens to the housekeeper who manages them during turns.  I have been hosting for 10 years, and I do the latter.