All Forum Posts by: Nancy Bachety

@Crystal Dirba

Everything you mentioned that you do, that’s on the list. My audit was settled by NYS first, before the feds, which is odd because the state usually follows whatever the feds do. The feds have not yet responded but we are confident it will be in our favor. In fact, you’d have no choice but to claim material participation because that is exactly how the regulations read and require. 

Make sure your calendar is only available for the desired future, 6 months, on Airbnb settings as well as on GFH. 

Agreed with above. 
An llc management co controlled by you doesn’t by itself solve the underlying issue. 
The STR loophole means you material participate and it gets non-passive status.
Your s-corp company that generates income is separate from your STR activity similarly to w2 jobs are different. 
But I’m just a layman who knows nothing. 
You’re on the right track but whatever you do, trust your CPA and verify they know the STR business. 

I don’t save my guests 15%, it goes in my pocket plus a security deposit. Airbnb provides so little to me right now.

To answer your question, during the inquiry stage or before a confirmed reservation, if a guest asks if we offer direct booking, I will reply the way I’ve seen others do: send a few messages back to back conveying my email address using letters numbers words and a certain level of expected savvy. It has always worked.  This is in violation but I’ve been around the block. I never do this otherwise, but some savvy guests ask. The ones who stay receive an automated message telling them to save my contact information for next time to book directly. 

At what selling price does the potential $50k income work out, mathematically? Follow this property and you might see a buyer who figured it out and a seller who recognizes it. 

Well then, you found the answer to support your decision. I wonder what would happen if you put in an offer using $45k -$50k as the income. Did the sellers buy high, did they renovate or update, are they in too much and would they be willing to sell at a loss? 

Maybe, maybe not. It doesn’t seem low at $300 for a sleep 6 or a sleep 9. Now that you turned it down, what was the asking price?

The adr is down this year but your agent is still right about the projections. The other investor doesn’t self manage besides, even in this different market, if your purchase price works with the $80k projections, you’ll have your answer. If that includes paying a pm you’ll get a different answer. Check Airdna. 

That sounds right and we’ve had similar numbers. We’ve owned a 2 br 2 ba cabin in Shagbark since 2018 and is not “too far” at all. The cabins are not crowded next to each other and it’s under a five mile drive on scenic roads to PG. Close and secluded. Marketed right, and depending on the price, that will return well.