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All Forum Posts by: Nathan Olds

Nathan Olds has started 2 posts and replied 20 times.

Post: CPA w/ STR Experience

Nathan OldsPosted
  • Mason, MI
  • Posts 21
  • Votes 8
Quote from @Wesley Acevedo:

I'm looking for a CPA with experience with short term rentals to help me with the upcoming tax season. I met a local CPA before I started early last year but he is not experienced with STR and based on our talks he's probably gonna charge me more than what I'll save on taxes.

Last year I rented two of my bedrooms and acquired one property (no income from the new acquisition yet). I also rented my two cars on Turo for a little while. 

Any CPAs willing to work with me?


Hey Wesley, I find myself in a similar situation as you. Did you find a CPA who knows the ins-and-outs of Michigan STR taxes and accounting?

@Kirsten Hunt check out YourWelcome. It sound like exactly what you are looking for.

https://www.yourwelcome.com/

Quote from @Wilson Hunter:

Get PriceLabs Market Dashboard for $10. 


Thank you for the feedback! It looks like Pricelabs is $10mo per market which is reasonable but would still be expensive to see all of the markets in Michigan.
Quote from @Dorothy Bland:

PriceLabs has been a very useful tool for me. Much more reasonably priced. Saw it recommended on here previously. 


 It looks like Pricelabs is $10mo per market which is reasonable but would still be expensive to see all of the markets in Michigan. Thanks again!

Quote from @Dorothy Bland:

PriceLabs has been a very useful tool for me. Much more reasonably priced. Saw it recommended on here previously. 


I knew they did smart pricing and I guess it only makes sense that they would have that data. I will check that out. Thank you!

Quote from @Luke Carl:

Google the enemy method and watch Avery’s BP video 


 Thank you, I remember seeing it a year or 2 ago but that was before I lost my free access to historical Occ data. I will check it out again.

Quote from @John Underwood:

Start a spreadsheet and pop in 6 or similar properties. Look at their calendars and their pricing. Then take an average of their occupancy and pricing. Use airbnb and Vrbo. 

This will be much more accurate data than anything you can buy.

When starting out undercut the normal pricing until you have some bookings. Concentrate on getting 5 star reviews on these bookings.


 Thank you for the feedback! I'm looking specifically for occupancy rate. Michigan is very seasonal and unless I wait till the winter months to do this I don't think I would get a good feel for expected annual occupancy rate.

Good morning everybody!!

I am looking to buy a lake front STR in Michigan for $200K. I'm from Michigan, I love Michigan, and this is where I want to buy an STR.

I can not narrow in on a specific local Michigan market because there isn't one that has enough properties that meet my criteria. Michigan has  a plethora of lakes and unique lake towns.

I am looking for a STR data and analytic service that offers me all of Michigan without spending a fortune.

These are the services I've looked into and what I've found:

Airdna: $599 annually for access to all markets globally

    - I only need MI and I don't want to spend $600 a year 

Alltherooms: You can only buy individual markets and according to them, MI has 979 different markets

    - I had been using Alltherooms to find ADR and Occ comps but they recently removed the ability to see occupancy rate from the free account

Mashvisor: $599.88 annually for access to all markets

    - I purchased the "Lite Annual Subscription" for $215.88 and found out that I don't have access to the data I want

Rabbu: Is free but only offers ADR and Occ data for a listing's next 30 days worth of bookings 

Airbtics: $149.95 monthly for 5 cities

    - Too Expensive for me

Does anyone know of a data and analytic service that will show me historical 12 months ADR and Occ for all of Michigan for a reasonable price?

I was listening to some podcast (wish I could remember which one) and I heard about a metering system that you attach to all water lines so you can get a meter on showers and sinks. I'm not even sure what you could even google to find something like that. Hope this was helpful lol

Wow! That is awesome man, Congratulations! It's hard to find deals on small multi family in areas like GL, Mason, Dewitt, Haslett, and East Lansing.