All Forum Posts by: Heidi M.

@Dave Foster it was always our intent to STR the unit. I have a letter from the HOA manager granting permission prior to purchase. We would like to sell the unit and purchase a house where we can STR while following the new guidelines. It would be a tax burden for us to sell without the 1031 exchange though.

@Alexis A Peinado. Appraisers are being conservative right now. The market prices are terribly inflated. I think this is good news for you. Shows the seller their price is high.

I have a vacation home at Lake Tahoe that I do not utilize often. I would like to sell and purchase another unit in the same area and was hoping I could do a 1031 exchange. Current property I do not rent due to the HOA not allowing STR. Was not that way when we purchased. My question is if I put a long term tenant in there how long would I have to rent the current property in order to do a 1031 exchange?

@Robert Shedden I would return the money. He’s going to raise a stink if you don’t and 1500 is not worth the trouble IMO. Next time don’t accept a deposit without a signed lease

@Nathan Yarnell

You have been given terrible advice and running your business in that manner is a good way to lose your shirt. Unless you are currently wealthy and could offset major losses on your own it’s doubtful a bank would even give you a loan on a negatively cash flowing property. My advise is to look elsewhere and get yourself a new agent. This one is just trying to make a sale.

@Jacob Beg you dodged a bullet. I wouldn’t put any Moore efforts into this one.

@Jack Orthman my lowest cash flowing unit is $500 a month. Turnovers do not scare me at all because my properties are maintained and it’s an opportunity to raise the rents again. I rarely have turnovers though. I find it interesting that some get all touchy feely with their tenants. Late? Thank you for letting me know. Just to remind you the late fee is $50 plus 10% per day. Guess what….they are only late once. My only problem is finding more units to buy.

@William Beck don't invest in North Lake Tahoe either (Nevada). New STR regulations in place are burdensome.

@Zachary Jensen. Every year my husband tells me not to raise rents and every year I completely ignore him and do it anyway. I am always slightly under market and have never lost a tenant over a rent increase. I usually raise 3 - 5 % annually. I don’t have any sort face to face conversation with my tenants. I just send them notice 2 months in advance.

@Jody Tims I would buy in another state. California is outrageous along with their taxes