All Forum Posts by: Jesse Crawford

Afternoon Bigger Pockets Team!

Dropping a quick note on Turno.com (formerly TurnoverBnB.com). My long-term cleaning partner was out of commission for a few months and after turning to the interwebs for a solution, I found Turno which was a huge success. Previously, I was unable to do same day turns and after finding a great secondary partner that limitation is a thing of the past. With two cleaning resources it also helps to ensure that my contribution exceeds any other entities when utilizing the STR tax strategy to shift bonus depreciation losses to offset active W2 income!

Looking forward to getting more engaged in the BP community, adding value and building the partner network. I'm active in Tulsa and Denver currently! Looking forward to  connecting! 2023 goals is to execute my first creative financing / Subto deal with a private money lender that I've secured. 

Lets Connect!

Cheers,

Jesse

@Michael Baum - @Lauren Kormylo - @Leslie Anne Morris Update - Check out was this morning and the stay went well. The only oddity was that the washing machine appears to have been unplugged mid cycle but no issues after walking my cleaners through a little troubleshooting. Jewish Family Services of Colorado did a good job in facilitating the stay and walking the guests through the property
ensuring they were comfortable. Best of Luck! 

Thanks @Michael Baum & @Lauren Kormylo! I spoke with the Troy the guy placing the family and he seemed legit and did add the guest to the account. They are also affiliated with Airbnb.org so it seems to be okay. I'll report back after the booking which is tomorrow through Tuesday.

Thanks for the reply @Lauren Kormylo!

He has 9 reviews with latest being in august of 2021. None of them appear to be related to refugees and a few of them are stating a different name. I've asked to have a quick chat with him to see if anything seems off.

I would also be interested if anyone has provided stays for any airbnb.org charitable stays.

Has anyone provided stays for the Jewish Family Services of Colorado? Just got the booking request below.

@Jason Douthitt - Resurrecting this from the thread from the depths of the BP vault! Have you found a solid Title company that you are working with in Tulsa? 

To add to the benefit of the post these are the details. 

This is an owner occupied single family home:

I have $100k OPM available @ 6% w/ interest only payments on a 10yr balloon. I am considering putting the full 100k into the property which put the sell price at ~$320k which is likely 20k over market.

As-is the property should cash flow $250/mo. Open to any further thoughts on the deal!

Thanks @Randy Rodenhouse, @Chris Davidson, @David Ramirez

This aligns with my assumptions that sub2 deals are still a transfer of title/deed and the associated tax implications are no different than a traditional RE transaction.

Morning BP Fam! I am working through my first subject two deal and one objection that I've not seen covered is how the proceeds to the seller / homeowner are taxed. My assumption is that since the deed of a property is changing hands that Uncle Sam would still view this as proceeds from the sell of a property. I'm hoping to have a CPA with experience with sub2 might weigh in.

Thanks in advance and best of luck!

Jesse