All Forum Posts by: Johnery Laurimore

Thanks Ryan.  Thanks for providing the reference.  Are you currently invested in Wilkes Barre?  I would love to connect with you about investing in the area.

Thanks Michael!!  This is very good advice and especially coming from a property manager. I will definitely be putting this into practice.

Is anyone investing in Wilkes Barre, PA?  Does anyone have a recommendation for a good property manager in Wilkes Barre, PA?

@Myrtle Mike Thompson

Thanks a million!!! I appreciate all of your help and insight. It saved me a bunch of time in an already busy month with tax deadlines

@Myrtle Mike Thompson

This is extremely helpful. I didn’t think about the Facebook option. I have a 1 bedroom condo so it’s good to know the range is reasonable. The form seems fairly simple as well. This was the only type of special local tax I found specific to vacation rentals in Myrtle Beach. Do you know otherwise? I gather you manage a couple.

@Michael Baum

Thanks for this. I did see this and am working with my property manager to get the values needed. This seems like more trouble than it’s worth but I don’t think there’s much by the way of an exemption. I just wanted to confirm my suspicions. Great idea for the CPA. Since I only have one unit I was hoping to leverage off of the community first.

Has anyone dealt with the personal property tax on Myrtle Beach Vacation rentals?  Any exemptions for nonresidents?  Other random year end taxes?

It seems like many people on this thread did the fix and flip line of credit program with FOA.  Did anyone do their buy and hold program?  Were the same issues occurring?  I'm considering FOA but came across this thread

Sure it is a 6 Family that was built in 1935 which automatically pulls it into the rent stabilization program.  The issue that I'm running into is that the seller hasn't kept up with their rent roll registrations (last submitted was 2008).  I'm concerned about if there are fines for not keeping this up to date.  In addition, there are some units (2) that are vacant which I'm trying to determine how much those can be rented for (assuming no upgrades made to units/overall property).  I get conflicting information particularly on the rental amount for vacant units (whether can charge full market rent or is it the 20% over the last rent charged).

I'm potentially looking to purchase a small rental building which falls under the NYC rent stabilized program. Looking to pick the brain of an experienced investor in this space in NYC as have some questions and running into a brick wall with DHCR.