All Forum Posts by: Louis Zameryka

@Paul Haney take a close look at STR restrictions. I have been looking at STR investments for a while and without fail whenever I see a very well priced home it turns out you can't use it as an STR or the ordinance is about to change and the locals know it.

@Shiloh Lundahl

Maybe passive and no W2 is the simplistic way to look at it. It’s an easy goal to visualize for many people but also it’s a trap. Nothing gets you thinking lazy like picturing quitting your job and then waiting for checks in the mail while sitting in your lounge chair… so it appeals to people but if you actually probe those people probably that’s not their goal and that’s not usually the actual end state an achiever wants to achieve.

My point of view is that

1) replacing some of your income with a new stream of income from a new skill set, can result in you choosing a new way to earn the remaining balance. So imagine you hate your W2 but like REI, and maybe like playing music, well if you replace X% of your W2 with semi-active REI and then replace the other being a manager at Guitar Center. Maybe suddenly your life feels amazing.

2) the new skill set pays off over time because you have trained yourself to think like an asset or business owner not an employee. So maybe at 60 you buy a business and retire from Guitar Center and semi-passively manage your business finally from a beach somewhere because by then REI is 60% of your income need and this business and it's employees need to just make you the other 40%.

Passive and No W2 makes this entire REI thing reduced to a binary outcome but as everyone here knows it's not a binary thing. As you succeed and fail you are changed and those changes will land you somewhere you probably did not set your sights on at first.

Hi

I'm a new investor looking to use a heloc to buy 8+ unit multifamily. I'm looking for a sort of mentor who can help me to navigate how I use my HELOC to maximize cash on cash but keeping in mind to be careful as rates rise.

I’d love to learn from someone who has deployed a heloc to invest.

Thanks

@Juan Salazar

Welcome fellow NY investor

@Kyle Momany I’m also interested in turnkey investment in Destin or Gulf Shores area. Please send some info my way too

@Matt "Roar" Gardner

I've also been looking in Destin but no matter if its Destin or the Poconos in PA… When people say that a market is a gold mine if the numbers work… I'm not sure the numbers work right now. Record high prices to buy a property and record high STR inventory coming on line seems to me like a very challenging situation to make the numbers work on a go forward basis…

Anyone have advice?

@Kyle Mccaw yep a 3/2 condo in vista cay. I am happy with the purchase. It went into a rental program right away and is cash flow positive the first 3 months (besides the startup costs and light renovation).

I’d buy another but the prices have skyrocketed even further so have to select carefully

I recently purchased my first STR (3bed condo in Orlando)

When it comes to be tax time what can I claim as deductions etc?

Anyone have a simple checklist of receipts is should be saving for my accountant?

Thanks

Big news this year so far with companies investing in North Carolina. Overall housing is hot but could this be the right entry point for certain markets in the state?

@Joe Norman Hi Joe, Thanks for the reply.

I’m not interested to work on the property, I’m interested in being more passive. Would you recommend multifamily syndicate or jv to meet my needs?