All Forum Posts by: Jason Nazarenko

Totally agree @Michael Baum, however there is a house that just went on a bidding war for $175, and it’s not as nice as this and doesn’t include the setup.  I am hoping to find the perfect fit 

@Gerald Pitts Nov 2020-current was $27,648 gross

Thanks for your input @Avery Carl, I remember hearing you on either the BP or ADPI podcast. Do you have any recommendations for how I should go about selling my STR? It is in a vacation area for outdoor enthusiasts that is gaining more attention.

I believe listing with a local agent, I would loose more equity to commission than I would like. I have it on Zillow but it shows up as (other) instead of agent listings of course (less visibility). I figure I could go with a flat fee MLS listing to get more attention, but you might have even more useful recommendations.

@John Underwood actually all of my properties have been purchased using an income based analysis as an investment property with a local lender. You are correct that someone would need to have an appraisal completed with local comps (SFH's), however, an investor looking for a turn-key vacation rental has to look at the revenue produced. I have over 2 years of financials with P&L from our CPA that the seller will have a direct link to for due diligence. When you buy a turn/key vacation rental it is different than a SFH purchase.

I have one STR that I am starting to get ready to list. My portfolio currently consists of 6 Active Vacation Rentals (Air B&B & VRBO) and a few other properties that is continuing to grow. I am looking at selling one only to free the capital up so that I can open a Taproom and Pizzeria in the town that will propel the area in a much needed way.

Check out potterblock.com to see part of my portfolio. I am listing 310 Harding Blvd. Cotter, AR 72626 (Fisherman's Hideaway). 

Cotter is a Fly-fishing haven and the area is incredibly desirable.  I have plenty of friends that are realtors, but I am trying to hold on to as much of the funds as I can to be able to dump them into the Taproom/Pizzeria Project (I have already acquired this new property and am ready to build out).

Average revenue for the property I am selling has been $2500 per month, with highs being $3200 and lows being $1800. I am selling it turn-key with everything that is in it currently and will ensure a streamlined transition for the new owner.  There is still some areas for value add in the home that can allow the new owner a chance to increase their revenue quickly.

Gladly chat with anyone that is interested in the property or that has some information that could help me with this. I am looking at putting the funds raised into a self directed IRA that can be used to fund a startup to help with the tax burden.

@Edwin Williams I have one STR that I am starting to get ready to list. My portfolio currently consists of 6 Active Vacation Rentals (Air B&B & VRBO). I am looking at selling one only to free the capital up so that I can open a Taproom and Pizzeria in the town that will propel the area in a much needed way.

Check out potterblock.com to see part of my portfolio.  I am listing 310 Harding blvd (Fisherman's Hideaway).  Average revenue for the property has been $2500 per month, with highs being $3200 and lows being $1800.  I am selling it turn-key with everything that is in it currently and will ensure a streamlined transition for the new owner.  

Gladly chat with anyone that is interested in the property.

Investment Info:

Small multi-family (2-4 units) buy & hold investment.

Purchase price: $68,000
Cash invested: $376,000

This was our initial purchase in Cotter after retiring from the Army. We did a full remodel and ended up with 3 units (we stay upstairs) and rent the two lower units on vacation rental platforms.

 Incredible resource!  I went to the link and IMMEDIATELY started consuming content!  Thank you @Tzvi Ausubel!  I have saved this resource so I can refer to this often as I develop my material participation checklist in order to claim the Real Estate Professional Status.

We have a portfolio similar to @Mike Y. We live in a Triplex we renovated and have 2 apartments downstairs we rent as STR's. We also have 3 other SFH's as STR's and are working on others as well. I have a W2 job, Army Retirement, and very small income from consulting and teaching online (a few thousand). This is our first year filing with the STR's so I am very anxious about the tax season and am very concerned I am not set up with the right CPA. Reading through multiple books, forums, blogs, & listening to Podcasts, I need a tax strategist and a CPA that is Real Estate Savvy.

I am determined to not give away all of our profit as we work to build generational wealth!

Thank you for the great resource and info!

Hello BP family!!  I have been reading a ton of books lately just like @Jesse East (Tax strategies for the Savvy Real Estate Investor & Advanced tax strategies...) I have been anxiously awaiting my turn to talk to my local CPA (recommended by many folks around in the town) although I am not convinced he is a CPA that focusses or is savvy on Real Estate Investors and tax strategies to help.  

So here is my Question for all the experts out there, before I go crazy....

This is my first year in Real Estate Investing, I retired from the Army about a year ago, bought my first property before I got out (3 Plex) I live upstairs and have 2 Vacation Rentals below, then bought a single family home (SFH) (rehabbed and staged as another Short-Term Rental (STR)), then bought another SFH and set up as STR, and did this again.... So within the first year, I have a total of 5 Active STR's + a warehouse (small income from renting space out to occupants), and a church (still renovating but had a little income from liquidating some contents). The Way I see I should be able to get down to a very low (if any) tax burden. I have spent tons on rehabs, upkeep, and setting up these spaces.

I have income from Military Retirement, a current W2 job, the Vacation Rentals, cashed out some of my 401K to get going (which I believe is showing as income).  

I have expenses from running all the rentals, all utilities, all upkeep (cleaning + maintenance), furnishings....etc.

I am reaching out to tax strategists now and have an initial call with @jacob peace in a few days. 

Am I crazy for thinking my CPA is not Real Estate Tax Savvy if he is telling me I should plan to pay taxes to grow wealth?  @Natalie Kolodij do you have any input? 

Willl, the biggest draw to Cotter is the Fishing and the outdoor activities! We are on the rise and since getting out of the Army a bit over a year ago, I have jumped on board with the city to help promote our area by setting up movies in the park and other events - even through COVID.

Our portfolio grew very rapidly (sometimes it felt too fast) but luckily I have a good W2 & Army Retirement that has helped with holding/rehab costs. Once we are finished with the two projects we have underway currently (Cotter Downtown Church & Commercial Hotel) my projections show that we should be doing very well by spring/summer! We need to Hemorrhage some more funds into the projects to get them finished and staged (all FFE) once we do, we will be able to really make a turn up and right!