All Forum Posts by: Perry Ivy

I have long term rentals and am now about to launch my new construction business. I would like to roll some of my profits from the new construction into buying more long term rentals. I’ve consulted with my tax accountant, tile company, a few other professionals and have been told that it is possible, but I’m not understanding how it works. Could someone explain the process? Thanks for your time.

@Tamar Hermes by all means learn, ask questions and double check. Corporations have different tax structures and most warn about the double taxation of an S Corp. I have a C Corp which is similar to an llc. Good luck!

@Tamar Hermes I don’t for a reason that most people don’t talk about, litigation. Real estate can be litigious and as long as I keep my retirement In the vehicle that it is designed for I can shelter it. Most of my properties are in a corporation and I carry extra insurance as well as an umbrella policy, however if that was penetrated I want my retirement funds to be secure. I could give you many more reasons but litigation protection is at the forefront.

I have this one at the lake, unfortunately they drained the lake for repairs and it will be a while before it is refilled. Since I have properties on Airbnb I thought it might generate me some revenue :)

Has anyone tried to put a tiny house on Airbnb? I own a potable cabin and I’m considering using it as a rental. Any commentary will be appreciated.

Seeking advice:

I own almost 13 acres in a C class neighborhood. The front is zoned C3 and the back is R1. There's a house on the front that is rented via HUD. I would like to develop the land and create a seniors only housing community. In this neighborhood most of the clientele are on HUD, so this would probably be on it as well. Is this possible? Any grants or funding options available? Any other ideals or suggestions would be welcome. Thanks!

Business should be business and charity should be charity. I wouldn’t mingle the two.

@Michelle Shriver yes I am and I love the stuff. Yes they ship all over America.

Update: it took us 2 months to get the duplex ready for Airbnb, mostly due to two large projects goin on at the same time. We spent closer to $1,400 vs the $1,000 we had anticipated. We got started around the second week in March and only made around $430, but April has been the money maker with scheduled stays totaling around $1,400! We will probably exceed that as we’re still early in the month. May is starting to fill up as well, so we anticipate a great return. I have enjoyed being a host and have met some great people. We have lost a pillow and blanket, but that’s the worst that has happened. You can file a claim, but I didn’t find it worth the hassle as the guests sister took it. Overall we are elated and thank everyone for the help.

And yes you’ll have to rezone it and the likely good of that is slim to none.