All Forum Posts by: Jonathan St.Leger

Yeah, I'm really disappointed that they removed the Air DNA from the calculators also!!! It was a great way to do a quick analysis on a potential property. Hopefully they will bring it back at some point.

Is Bigger Pockets no longer offering AIRDNA under tools as part of the pro membership? I can't seem to find it anywhere. 

@Jordan Dzubak

Hey Jordan, I live in Kitty Hawk and invest heavily in the OBX STR market and would be happy to get together to help in anyway that I can. I host a REI meetup on the OBX monthly if you have any interest in joining us for a meetup it would help give you great insight.

Thanks, have a great day!

Can I amend 2021 tax returns and include everything eligible for bonus depreciation resulting in a Net Operating Loss which then would roll over to the following year? Thanks for your time, have a great day! 

@Basit Siddiqi     

Thanks for responding! Yes, I did do the cost segregation on my 2021 tax returns.  For educational purposes and future planning, is there a downside to having a large net operating loss carrying over into future years? We had chosen to take only the 15 year bucket in 2021 as bonus because it brought my income down to the low tax brackets. I was hoping and under the understanding that I could use the remaining available 5 & 7 year bonus buckets in 2022 as income was very strong in 2022 and as it sits currently in the 35% bracket with heavy Penalties and interest. As the previous CPA and I had planned by being able to use the additional bonus depreciation it would have again left me in a very low tax bracket. I just wanted see if there was any other options that I wasn't aware of on how to possibly capture this as it will change my financial landscape. It is what it is however I like to continually learn and plan better going forward. 

Thanks, have a great day! 

@Michael Plaks     Thank you for responding! Yes, unfortunately I'm just now being able to file 2022 returns. My previous accountant had all of my paperwork since July of 2023, she had promised that it was not a problem to be filed by Oct.15th but she had some health issues and would not respond to my many calls, emails and texts. She finally got back to me in December only to notify me that she had retired and that I could come collect my paperwork. I then had to source another CPA, that's how I ended up in this situation. I will ask new CPA about the 3115 for 2023. Thansk, have a great day!

Hello BP Nation, 

I sure could use some help with a problem that I'm currently facing. So....... with my previous CPA (who has since unexpectedly retired) we did a cost segregation study on an asset that was placed into service in 2021 which broke down the bonus depreciable items into 3 buckets, a 15 year bucket, a 7 year bucket, a 5 year bucket and the rest would be on a 39 year straight line depreciation schedule as it is a short term rental. For the tax year of 2021 I was advised to only take the full 15 year bucket as that brought my income down very low and that I could take the either one or both of the 7 year & 5 year buckets in the following year 2022 as 100% bonus depreciation. I have since needed to hire a new CPA and he is saying that I cannot use the remaining 5 & 7 year buckets as 100% bonus depreciation and that they can only be used as accelerated depreciation which helps a little but I tax planned and strategized based on being able to use100% bonus. As a result I'm left with a hefty tax bill as well as penalties and interest. For those in the know, can you please advise me if I should in fact be able to use them as 100% bonus in the second year?  Thank you so much. 

Hey Bernadeau, 

Thanks for hosting this!! I would like to come but when I tried to rsvp it said it was sold out, just curious if there may be more spots available? Looking forward to BPCON!! 

Thanks, have a great day! 

Hey Linda, 

Simply make a list of the top 10 or so real estate attorneys in your area and call each one of them and ask your list questions, how the process works, have they dealt with something like this before, an approximate expense and timeline, etc. It's likely that this process will also require an updated survey of each individual house as well as all common HOA areas etc. Wishing you the best of luck!

Congratulations!!! I love the ground up STR development model!! It provides you with a great opportunity for value add as well as little to no maintenance and cap ex expenses for years to come in addition to being able to offer your guests a newly built place to stay! Nice modern looking design. Could you share some pics of the interior? So it looks like your all in $700K, can you share what the finished appraisal came in at? Awesome job!!