All Forum Posts by: Jon Martin

 I agree, however AirBnb was not a thing at the time they made that rule. My point was that it would not surprise me if congress went after it with the next tax bill. 

@Connor BathI have an investment property in Greenville near the west village. The town is relatively small so it's pretty easy to be within that driving distance of downtown. I would ask your realtor to bring you listings with basements and/or detached garages because it's tough for an MLS search to reliably pick those search terms up. Most of the west side is 2 and 3 beds with smaller footprints so they aren't great for househacking. The North through East to South quadrants seems to have more broad footprint homes and basements where you can carve the house up for more privacy.

What neighborhood? Might work as an STR or MTR, especially if it's close to the hospitals. My STR is near the West Village and Brandon Mill and does better than your estimates as a 2/1. If you can at least break even and hold I think the appreciation will pay off- the town is booming!

For an LTR I would pass on the rehab and it would probably be fine (serious issues permitting). 

 my wife has pointed out, "that place looks nicer than our house!" 

I'm like, "well yeah, it's business! We don't make money off of having nice things here". 

Doesn't seem to resonate. 

Thank you all for the replies. For the record I am not going this route in the near future, simply trying to understand. The reason I asked is because the aspect of how the seller gets compensated for the equity was not adequately covered IMO in the podcast episode. 

Just listened to the Pace Morby episodes on the regular and rookie podcasts. Really fascinating stuff but I'm still trying to wrap my mind around a dew details. 

Mainly, in the scenario described where it's a zero cash sale and the owner has a lot of equity, the seller is not walking away with any kind of lump sum like they ideally would in a traditional sale, correct? (Unless the seller negotiates for a certain amount down, at which point it would not be a zero cash down sale by definition). Instead, the seller is financing their own equity back to the buyer over an agreed upon amount of time, and if there is still a mortgage the buyer is also assuming the remainder of the loan?  

Do I have it right? 

Not trying to throw shade, but a seemingly $1300/month profit spread that then gets WIFI/cable, water, power etc deducted from it is not what I'd call "crushing it". If by mortgage you mean PITI, I'm guessing you have around $800-1000 leftover per month after paying the bills that normally an LTR tenant would pick up? Which is a nice investment, don't get me wrong, but compared to what many posters here pull from their STRs is fairly average.

I'll be surprised if this "loophole" is still around in a few years. 

 Good call, it's worth the wait. Property looks awesome!

For the market as a whole or per unit? If the former, are there specific reasons for this?