All Forum Posts by: Mark Page

Think the biggest opportunity is actually in the Tier 2 and 3 metropolitan cities. I operate over 50 in Charlotte and Atlanta and we have no issues here with regulations. Raleigh tried to pass regulations but then the NC General Assembly passed a law that prevents cities from regulating Airbnb: https://indyweek.com/news/wake...

Have strong conviction that this is the way of the future for travel and real estate investment.

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Very interesting!!!

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Originally posted by @Richard Phillip Lewis:

@Mark Page In NJ our governor just created and passed a law last October called the Airbnb Tax. At the Jersey Shore we have a lot of STR for summer rentals. We rent by the week and there are also Airbnb rentals for weekend stays.

He passed the law arguing that it isn't fair that Hotels and Motels have to pay a tax and these STR don't. So now all short term rentals are subject to an Airbnb Tax of about 10%. The law goes on to say that if you list your rental with a real estate agent you don't have to pay the tax. The only way the tax is enforced is when a home owner registers with the state as a short term renter. I've also heard that the governor is looking into revising the tax.

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If you invest in Short Term Rentals, are you concerned about the future of this type of rental?

It’s like everybody hates us! I have my first in Big Bear Ca, and after only 4 months ( during the slow season) we been able to pay all of our expenses and have made profit! We also just became super host’s on Airbnb!

My concern though is the increasing ordinances cities or states are putting on STR owners. I'm in a resort community so That makes me feel like the city will continue to need us despite their obvious annoyance by STR's. I even heard hotel chains are now starting to try and do their own STR programs to compete!

Thoughts?

Thanks Bigger Pocket Family!

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@Michael Baum Yeah Mike, if they start a service like Airbnb or something it would be great! It would level the playing field so Airbnb isn’t a sort of monopoly!

Unfortunately on this subject I ‘m kind of a glass have empty guy. I just feel that the hotels are going to keep competing and try to overpower us business owners and try to capture all that business for themselves.

I hope I'm wrong and I hope that you are right. I love your optimistic view but again this is business. This possibly can inspire hotel chains to start a whole new business model that would have so much backing and capital that they could smash STR's. Again I want to believe in your optimistic view and I hope that truly could be the case.

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So we all know there is some serious HATERRATION on us STR property owners! I personally think things are gonna come to a head. I don't how but it just seems like something has to happen. Well I just found out that the all powerful hotel chains, starting with Marriot, are developing their own STR programs!! What are your thoughts on this my Bigger Pockets family?

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Thanks Don!

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Hello my Bigger Pockets Peeps. I need your help.

I’m trying to grow my property portfolio but I don’t know how to get the capital. I already took a loan out from my 401k to buy my first rental. I was planning on liquidating my whole 401k to buy more properties but I just found out I can’t liquidate my 401k unless I leave job at Disney. Am I totally screwed?!!

Thanks!

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@Carl Fischer can you break that down a little more me?

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All Forum Posts by: Mark Page

Mark Page has started 5 posts and replied 20 times.

Post: The Future of STR’s?

Post: The Future of STR’s?

Post: The Future of STR’s?

Post: The Future of STR’s?

Post: The Future of STR’s?

Post: Hotels like Marriot starting a STR’s to compete !

Post: Hotels like Marriot starting a STR’s to compete !

Post: How to get financing for a down payment ?

Post: How to get financing for a down payment ?

Post: Avoiding 401K early withdrawal taxes, penalties ?