All Forum Posts by: Sean Powers

Hey guys this is a follow up to my question from the other day regarding whether or not I needed an LLC for tax write offs for a STR property we just bought. I've come to the conclusion I don't. With that being said for tracking expenses, income etc do you guys use quikbooks? I read that quikbooks will be discontinued in 2023 so I'm assuming you guys use something else. Want to make sure I'm keeping everything separate from personal funds. Sorry for amateur question but…… I'm a amateur here. TIA!

Thanks everyone! Great info. I'm getting with my CPA now tho confirm we can write off expenses without the LLC.

Hey guys I am about to close on a home in Blue Ridge, GA and it will be a 2nd home mortgage in my name. I created an LLC to put the house in after closing but I'm a little worried about issues with that. I spoke to my tax guy and he said you can do it without an issue at the title place but still seems a little sketch. Wanted to run the STR thru LLC for liability protection plus obvious tax write offs. Anyone have experience with this?

Great info! Thank you so much!! 

Hey guys looking for some feedback here. Looking at buying first STR that also be used as a vacation spot for my family. 2 questions here

1: how is Blueridge market currently doing? Looking for a 3/3 or 4/3. I have noticed a lot of homes bought late last year now up for sale. Making me curious if that is indicative of the market slowing down in area. 2: we are looking at buying in the $800k-$1.2 range. Seems to be where you find homes with great views. But I am a nervous about biting off a bit too much on my first rental. Any feedback would be appreciated!