All Forum Posts by: Mike M.

The IRA LLC portion is a bit of a concern with Solera.  This is a new offering as far as I know.  They only began doing this over the summer (to my knowledge). I don't know if they've staffed up to accommodate this offering or really what their experience is with it.  When I started with the Rocket Dollar/Solera partnership in 2020 (keeping in mind the Rocket Dollar brought in Solera, not the other way around), my immediate impression was that Solera was not a top tier service provider mostly because their technology seemed to be lacking.  Also, doing all of the added services for (much) less $ per month than they were getting from Rocket Dollar just for the services they provided before doesn't seem realistic.

I remain squarely on the fence on this.

Anyone else dealing with the Solera and Rocket Dollar split?  They are at each other's throats and making negative claims against each other.  Customers are caught in the middle and it's a difficult place to be.  Customers are faced with picking one or the other.  Staying with Solera, they take over everything Rocket Dollar does.  Staying with Rocket Dollar, they move you to a new partner custodian.  Hard to know who is telling the truth and who to go with.  Are there other reliable alternatives for SDIRA?

I'm looking to get some guidance in the maintenance of my existing self-directed IRA. Questions about how the state views it and how I should handle things like the state's personal property tax filings that the state sent me in the mail. Are these questions for a CPA or a tax attorney?

Right. Permitted is one thing. Welcome is another. The realtor just just touted what a great area it was for STR. A good way to get an otherwise out of reach property and get help with the mortgage. Hopefully I'm not too naïve to think we can vet the renters, put specific family and neighbor friendly language in our listings, and put protections in place (noise detectors, people counters, etc.) to shutdown problem renters immediately.

Looking to get some insight from others that may have STR properties in the Lake Norman area. I'm seeing that there is a strong resistance in certain neighborhoods (maybe rightfully so if there have been poorly overseen party houses in the neighborhood). I just bought a place and so far I've met two neighbors and gotten an earful from both that they are fighting STR in the area. The conversation goes quickly from "Hey, welcome to the neighborhood" to "we don't want you here." I had a contractor at the house who heard some of the conversation with a neighbor and said I need to be careful as the resistance won't only be verbal or a cold shoulder, but other forms of intimidation are common in the area - harassments, stones through car windows, etc. - things that this contractor had experienced himself.

I don't want to be a pariah in the neighborhood. I want a retirement home that I can use STR to help afford for the next 10-15 years. I wonder if the resident's experiences have just tarnished their attitudes irrecoverably and I'll end up being miserable and constantly stressed.

I'm looking to put a lake house into the short term rental market. It's in a good area with high weekly rental expected (> $5,000 per week in peak season). Looking for some insight from experienced STR's about whether or not guests would be turned off by the presence of exterior security cameras (definitely nothing inside the house - except inside the garage which likely would not be accessible to renters - debating that). I will be managing remotely and I'd like to install cameras to monitor the ground level entrances and the driveway. The presence will be disclosed in the postings and I was thinking of including photos of what the cameras can see in the house binder.

Thank you @Michael Baum. I believe I have found it under a title that I hadn't previously noted. Nutshell: STR is not possible in Naples, FL.

Thank you @Michael Baum. I believe I have found it under a title that I hadn't previously noted. Nutshell: STR is not possible in Naples, FL.

A partner brought up the idea of investing in STR condos in Naples, FL. I was reading the county ordinances in Collier County and couldn't determine if STR was allowed. Anyone know?

Is an 8% cap rate reasonable in Myrtle Beach?  What's the average there?