All Forum Posts by: Kyler J Sloan

@Paul Sandhu The man who has least to contribute resorts to comedy.

@Michael Baum Thanks; I initially thought about just replacing all the trim and doors to give the place a rustic vibe. There are no vaulted ceilings, but the entire exterior has a cabin style, and the tile and kitchen bathroom have a brownish color that would nicely complement wood, so I will find some middle ground. 

@John Underwood We will definitely look into doing more of that; there is some already on the ceilings of certain rooms. 

Sort of like this: 

Anyone have some ideas or visual examples for how to make a cabin with plastered walls look more rustic? 

I am thinking of using textured faux stucco with a brown-yellow paint to complement wood trim and restraining the floors so that the style is uniform. 

@Henry T. And why not? How much thought did you put into that? 

@Taylor Dasch and @Paul Sandhu Thanks for sharing the experience -- I was wondering if it was done frequently. Seems like a great idea if each listing strongly complements the others. 

Just curious what you all think of buying property adjacent to other property you own vs. elsewhere. 

For example, if you own a property on the top of a mountain, and your neighbor just below you sells, you could connect their properties using trails, build a gym structure shared by each, offer joint bookings so they have the entire mountainside to themselves, etc. Also, the amenities of each building could be added to complement one another, so that no one property has the same games or amenities  (excluding a hot tub of course, which both should have).  

Imagine having 6 STR's, all located right next door to one another. It would be far easier to manage rather than having to build many different networks with different cleaners, etc.

Just brainstorming, and curious if anyone else has done this. 

@Lucie Tighe Probably not, but I am sure there would be a way to model potential earnings in proportion to square footage rather than bedroom count, since you can do only so much with so much space, whether that involves adding bedrooms, games, or other amenities. This structure will add 2000 square footage, 1000 of which will be a game room, and the other will be broken into 2 bedrooms and a lounge space. 

@Josh Green Thank you, but I was actually speaking for a property I already have. A construction loan for nothing down could convert the place without eating into rent. 

There is a pad just north of my current property that I could build on without shutting the cabin down and interrupting income. 

From what I have found, the improvement could almost double my revenue with infinite ROI since the land is used as collateral.

In the Smokies, by how much do you estimate revenue increases as a percentage of your prior daily average when you go from a 2 bedroom, 2 bathroom to a 4-5 bedroom, 3 bathroom? 

Thanks in advance for any feedback. 

And yes, I know this is very late. Honestly, I had faith in my current CPA up to very recently when she could not answer questions about the "STR Loophole", among other things.

Looking for recommendations for a CPA near Asheville, NC. 

I have one prospect, but 1500 for a tax filing while I have just one filing plus 250 / month is a bit steep. 

I have a lot of renovation costs to deduct; that, plus accelerated depreciation will more than cover my active income. So, I should get everything back this year. 

Any suggestions?