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All Forum Posts by: Kyler J Sloan

Kyler J Sloan has started 94 posts and replied 282 times.

Post: Joint Bookings on One Listing

Kyler J SloanPosted
  • Investor
  • Maggie Valley, NC
  • Posts 284
  • Votes 85

@Ryan Moyer Exactly what I hand in mind. There is a lot of potential with this idea, depending upon the properties. 

Post: Joint Bookings on One Listing

Kyler J SloanPosted
  • Investor
  • Maggie Valley, NC
  • Posts 284
  • Votes 85

Just curious if anyone has done this: 

If you have two properties right next to one another with complementing features, is there anything preventing you from creating individual listings for each, but then a third listing which features both? 

You could synchronize the calendar of one with the calendar of one on VRBO with the other on Airbnb, and vis versa, and in turn only those dates for which neither are booked would be available. 

To prioritize joint bookings, you could list them individually at a premium, but together at their regular summed price. 

Post: Contract or no Contract?

Kyler J SloanPosted
  • Investor
  • Maggie Valley, NC
  • Posts 284
  • Votes 85

I have a smaller job for (7.5 K) for installing a new walk in shower and bathtub-shower with new tile, etc. 

He seems incredibly efficient and professional. He says I do not need to pay anything until the work is done. 

What is more, he says he can get them done in 4 days during my only vacancy for the next two months (a short term rental) 

In a situation like this, would you have him sign a contract, request one from him, or would be opt out of using any contract? 

Post: ROI for these Bathroom Updates?

Kyler J SloanPosted
  • Investor
  • Maggie Valley, NC
  • Posts 284
  • Votes 85

I am trying to decide whether or not to fork over the money for a walk-in shower for one bathroom and a jacuzzi tub and shower update for my other bathroom. 

However, I am only considering this because I am about to take a HELOC on the place to re-invest.

Are there any appraisers out there or investors with experience with something like this who can advise? 

Is it worthwhile, or should I hold onto the cash because I am not likely to get much of it back for doing this? 

Thanks in advance. 

Here is what they look like now: 

Post: Builder: Local vs. National

Kyler J SloanPosted
  • Investor
  • Maggie Valley, NC
  • Posts 284
  • Votes 85

I agree. The one I am most strongly considering is an "up and comer". 

He has experience and references, including some complete ground up builds -- Just not quite as much as some guys. 

Clearly, everyone with experience at some point had none. 

Any ideas on some minimal criteria? -- Gut feeling says he is trustworthy, conscientious, and ambitious. 

Post: Builder: Local vs. National

Kyler J SloanPosted
  • Investor
  • Maggie Valley, NC
  • Posts 284
  • Votes 85

Yeah, this is what I was worried about. Local is what I want. 

I have managed to find a newer builder with a few houses under his belt. 

Although lacking the experience of many, if he proves ambitious and devoted to my project, and I earn his loyalty, the working relationship could last a long time, and I would have precedence over others when available builders are hard to come by 

I have given him some smaller jobs to see how it goes on a smaller scale. 

Post: Builder: Local vs. National

Kyler J SloanPosted
  • Investor
  • Maggie Valley, NC
  • Posts 284
  • Votes 85

For someone looking to start their first ground-up build project, would it be smarter to find a local builder of a small business or to bring on a national builder with a long track record?

This is another question to which there is not really a general answer, but I would be interested to hear your opinions and / or past experiences.

Thanks in advance.

Post: Home Builder: Local vs. National

Kyler J SloanPosted
  • Investor
  • Maggie Valley, NC
  • Posts 284
  • Votes 85

For someone looking to start their first ground-up build project, would it be smarter to find a local builder of a small business or to bring on a national builder with a long track record? 

This is another question to which there is not really a general answer, but I would be interested to hear your opinions and / or past experiences. 

Thanks in advance. 

Post: How to Claim Passive Losses without getting Audited

Kyler J SloanPosted
  • Investor
  • Maggie Valley, NC
  • Posts 284
  • Votes 85

I don't know why I posted that twice. 

Post: How to Claim Passive Losses without getting Audited

Kyler J SloanPosted
  • Investor
  • Maggie Valley, NC
  • Posts 284
  • Votes 85
Quote from @Steven Hamilton II:

Linda and Natalie are correct. End of story. They understand this backwards and forwards. You should strongly consider paying for competent guidance like theirs. 

Tax is not plain English. It is definition built upon definition... etc. An audit can happen even if everything is correct. I carry a caseload of 25-50 open IRS audits. Everything here is discussed regularly in these cases.  And it can mean some huge adjustments in the case of those who interpreted incorrectly.

You claim what is true and accurate, not what you think will avoid audit. Failing to claim expenses can lead to mortgage fraud or even major tax issues if you get certain refundable credits.

Not worth my time to comment further. Natalie and Linda nailed the replies perfectly. Your understanding is not that of an expert who has studied tax law. They took their time to give you guidance at no charge. That was kind of them. 

@Natalie Kolodij

You said "in service", not "Placed-in-service".

I guess the issue is that you were meaning to use the term "in-service", and I was reading "simple English"

If we go by Oxford, service is always active -- i.e. the action of helping or doing work for someone.

So, without the use of terms, it would mean what I thought.

But, also according to Oxford, "in-service" means "in OR available for use".

Honestly, if they are going to make a term for this, we ought to stick to adjectives like "Service-Ready".