All Forum Posts by: Michael Faurest

Hello, you may want to check on the laws as well.  I have heard that old Louisville only allows a minimum of 30 day stays for short term rentals.  Also, there is a lengthy conditional use permit required in Louisville to qualify to have an AirBnb.  Best of luck!

I am looking for an ambitious, hard working, individual to help me grow and scale my real estate investing business.  This person will be asked to help me find investing opportunities, screen opportunities, and help me analyze them.  They will also help with managing rental projects and rehab projects.  This is a paid position with bonus depending on performance.  Please let me know if you are interested in discussing it.  Thanks.

Hi, I have been using quickbooks online and have been somewhat satisfied but as I continue to build my business and add trusts and LLCs, I need to add more quickbooks accounts which gets expensive.  Also, I have a difficult time getting the support I need from my standard accountants on quickbooks.  Are there any experts that are familiar with Quickbooks desktop for MAC?  Is this a good software package?  It looks like Quickbooks has focused on windows and the most recent version for MAC is 2016.  I could also purchase parallels for MAC which allows me to run Windows software if I absolutely had to run quickbooks desktop for windows.  Any guidance would be much appreciated.  Thanks!

Hi, I have a contract for sale on a property in 40229.  It's in a nice neighborhood.  The closest comps sold for $145,000 and $142,000.  It could be a solid flip or it's a great rental area.  Rentometer says rents go for $1400 to $1600 per month.  It needs work.  Please message me if you are interested in learning more.  Thanks!

Hello,

I went to open up two Coverdell ESA accounts for my children and was informed that these are being phased out with the new tax law.  For most people, this is an insignificant change because 529 plans are being expanded to include lower levels of education expenses and they already have higher contribution limits.  However, for real estate investors, this closes the opportunity to use real estate to fund education expenses in the future.  I'm not a CPA so if someone more knowledgable than me would like to provide their advice, I would love to hear it.  From what I understand, you have until 04/15/2018 to open and fund an ESA.  If you miss this opportunity, it might never be available again.  Good luck.

https://www.fool.com/taxes/2017/11/05/7-hidden-cha...

Thanks,

Yeah, I have received several quotes.  The extra cost is due to residing the whole house.  We took the walls off and noticed holes creeping in through the wood paneling.  I was thinking about something like this: https://www.homedepot.com/p/Grosfillex-Element-36-...

or this https://www.homedepot.com/p/Nuvelle-Deco-Strips-Al...

I'm not sure if this will save any money or not.  I was thinking if the wall didn't need to be sanded and finished, it might save some money.  It is going to have a rustic look anyway, we are keeping the ductwork exposed, etc.  This is a rental in a college area.  Thanks for the help!

Hi, I have a large unexpected expense on one my rehabs and I'm trying to keep my costs as low as possible on other items.  Has anyone used a good alternative to drywall?  I've seen some cool 3D panels, etc.  Does anyone have any ideas to keep the drywall cost down?  I'm considering trying some different things out in a couple rooms, possibly a bonus room, etc.  Let me know if you have any ideas.  Thanks!

Shane, I own some properties and I'm happy to help you think through this.  Message me privately and we can discuss more.  Thanks.

It's near Eckhart Park in Westown

Hi, are there any fee based real estate agents in Montgomery?  I'm considering selling a house and just want to learn about all my options.  Thanks!