All Forum Posts by: Nathan M kiefer

Agreed, I think the market will really start to spur up when rates get a little more competitive. People can't justify leaving their 4% mortgage right now this causes a little bit of a stalemate.

4%- thats so 2019 lol, were at 2% as a lot of others are, one of my buddies actually has a 1.875%. As low as the market went for mortgages and housing shortage, the only sure bet in my opinion is housing prices will continue to rise.

Inflation and rates are all boomeranged off each other, next year will be one of the most interesting i have seen in the 25 years i have been doing this

2 Votes

Quote from @Lauren Kormylo:

Well, I'll repost here what I originally did in response to the email from Vrbo that some people got saying Vrbo was giving a promotional discount to prospective guests, and hosts could opt out if they wished. Vrbo was not asking the hosts to opt in, just telling them they are doing it, and making them take the time to opt out. That is, if the host happened to read that email.

They sent out new terms of service at that time, and it's addressed in one section:
"3.7.7 ...You also acknowledge and agree that we may on occasion offer discount pricing for your Property; provided that (i) any such offers will be available with respect to a broad number of Listings and not limited to your Property; (ii) we will provide you with electronic notice of such discount(s); and (iii) you may opt out of a particular offer."

So now we have to be sure to scrutinize any email from them, or risk losing money on a booking.

Sign of the times of what's to come....

1 Vote

in my experience, if its a "average sized home" i take that as a 3/2 or 4/3, 4/4 etc that number of 30k is very close. 20k low end, 30k high and of course you can get stupid beyond that.

cant comment on the financial return as to much missing info as others have said but if it rings true of 1k per month, potential 3 year return is accurate

0 Votes

most of these "youtubers" etc social influencers are nothing more than paper tigers.

1 Vote

Quote from @Basit Siddiqi:

Quote from @Nathan M kiefer:

Quote from @Basit Siddiqi:

30 days to receive the refund on an amended return is impressive.

The IRS is currently suggesting 12-16 weeks to process an amended return.

I agree it took about 2-3 months to do cost seg and file the 3115. After that and having a good cpa- once it was submitted it's a matter of reviewing. In the end they ended up adjusting the return up +$1000.

Sorry, I am a little confused

Are you saying that the net refund that you received from the IRS / States to be $1,000?
If the refund was an additional $1,000, you may have to question if it was worth it.

If you did a DIY Cost seg, you likely paid around $600
If you went the other route, you likely paid $2,500+

The cost to the accountant to prepare the amended return was likely $500+

@Basit Siddiqi return was mid 20k, it was worth it, my post says they adjusted our return that was submitted +$1k so it ended up being more than we were requesting.

0 Votes

Myrtle Beach, South Carolina

Quote from @Basit Siddiqi:

30 days to receive the refund on an amended return is impressive.

The IRS is currently suggesting 12-16 weeks to process an amended return.

1 Vote

Myrtle Beach, South Carolina

Quote from @Nathan M kiefer:

We did a cost seg amended return for a sizeable refund on our two strs in Myrtle beach. Wondering what others have experienced once the amended return is filed with IRS as far as a timeline on when I will receive my return?

I know boiler plate response is 12-16 weeks but really want to know what people are ACTUALLY experiencing.

Thanks all

UPDATE-----Took about 30 days to receive our str cost seg amended return funds for any of you wondering. I would recommend getting a good cpa as the process is daunting on their end but mine did great.

1 Vote

Myrtle Beach, South Carolina

Reach out to Airbnb, they have a platform for that and we used them and they find local photographers that do great work. That is what we did for both our strs and they were also really affordable

0 Votes

Austin, Texas

Quote from @Andrew Steffens:

Still had a better weekend than I, I think. Guests shot off fireworks (even though we told all guests not to). Put hot embers in trash can. Trash can catches fire. House catches on fire. Rental Mercedes catches fire. Fire Dept arrives and garage door is melted, car is melted.

Guests call us the next day and tell us the neighbors shot fireworks and hit the house and started the fire and we owe them for damages.

We get 3 different camera angles from neighbors clearly showing everything. One guy plays for the NFL. Would be a shame if the Colts find out their drunk player started a fire and does not want to pay for damages :)

Dang, now that is a story!

1 Vote

All Forum Posts by: Nathan M kiefer

Nathan M kiefer has started 11 posts and replied 346 times.

Post: Fed cuts rates by .5%

Post: Fed cuts rates by .5%

Post: Post disappeared - VRBO Terms of Service

Post: Renovation/furnishing costs of an STR

Post: Seeking Advice: Issues with Jenny Yi, an STR Designer

Post: Str cost seg amended return

Post: Str cost seg amended return

Post: Str cost seg amended return

Post: Pro STR photographer recommendations!

Post: Crazy guests! Why?