All Forum Posts by: Mark Futalan

@Michael Greenberg

Hi Michael,

Just wanted to see how your experience has been with sharedeconomy cpa. I actually had an introduction/consultive call with them and things sounded good and informative. I’m looking for legal/business structure advice for tax purposes.

Hi,

I wanted to ask a similar question. I’m looking at purchasing a property that’s listed as 3/2 2126 sq ft. Tax records show 2/2 with same square footage. Seller claims the room was a 3rd bedroom previously and they converted back from a den. The room has a closet and window. How do I verify this? Seller claims no additions were made and I’m unable to find or pull any permits from the city in regards to that. Spoke with a county rep, they said this happens all the time due to it being an older home and records are typically not accurate. Just want to make sure if we proceed with the purchase, we won’t be stuck with a 2/2 house with an unpermitted room.

@John D.

Hey John. That’s one of my biggest issues with plus. Lack of control with things such as photos. You can’t change the cover photo or add non plus photos to your profile. And if you make a case to change any photos, prepare for a 2-3 week wait for someone from plus to contact you. And that’s not even a guarantee they will adjust anything.

@Jessica Chow

It’s been about the same. My calendar was pretty booked beforehand so it’s been following the same trend. I’m usually booked 2-3 months out. What I do like is the improved search rankings which does lead to more traffic.

Hello,

I have family that inherited some prime beach land in Cebu Philippines. They are trying to figure out the cost of the land but have no idea on how to determine a figure or related comp. I believe the land is about 7 hectars. They asked me to reach out to anyone who might have any insight. Any suggestions?

Hello BP,

I own a short term rental property in the Coachella Valley here in California. Bought the property as a 2nd home/vacation property last year after selling our primary residence in 2017. Put the conventional 20% down. I’m looking to purchase another property in the same region, hopefully a nearby city and I would like to go in with a lower down (10%), but it seems like my only option is to put 20% down since this will be an investment property. The home is to be used every now and then as vacation home and rented out on a short term basis the rest of the time. Trying to figure out if there are other creative ways or options to be able to put a lower down payment. I was told I can purchase get a 2nd home/vacation home financing but it can’t be in the same region as my first. My wife and I both work in LA. Any feedback would be greatly appreciated, thanks!

@John D.

Hey Dennis! It was a pleasure talking to you the other day. Again, we are here to help! @John D is definitely your guy for any STR questions around the Coachella Valley. He was the one who gave me insight on the local market and connected me with an awesome realtor and got me started in the vacation rental space! How've you been John?! I was actually in the area doing a quick repair on Saturday and was driving around Cathedral City checking out the area on the way back home. What's your take on that place? I know there are good decent and bad places such as upper cove and vista chino and a small subsection of ones by Rancho Mirage being ok. Occupancy seems pretty good yr round I assume due to its proximity to neighboring PS. Only thing that was a drawback to me was overnight occupancy count (2bed-4 guest, 3bed-6 guest etc as compared to the extra 2 guests we get in LQ).

@Dennis Safarian

Hi Dennis. I own a vacation rental in neighboring La Quinta. Let’s chat. I can give you a little insight about the market there. I’ll PM you.

Thank you all for your input. I passed on it. Luckily guest can’t instant book on Airbnb because they haven’t met my booking requirements.

Had a guest inquire about staying at our home. They have local friends in the area and asked if they can see the house before booking. No reviews or cover photo. Wants to stay six days. Gut tells me this sounds a little sketchy....