All Forum Posts by: Jessica Sorensen

Parks Electric - John and his team are the best!

@Dan Sundberg I tried to share my link but it looks like that was removed. I guess FF is allowed so I'll try that one instead: https://www.furnishedfinder.co...

It was almost more like an unfinished second floor than an attic? Here's a before photo below. So we had existing stairs off our kitchen and just built a mudroom to add privacy for access through the back door. I keep meaning to make a post about it! Airbnb fees aren't too bad for the owner. It ends up a few hundred dollars per month. But for the tenant it's something like 10% so we had some people back out before we revised our FF listing to clearly include the Airbnb fees. I like it because it guarantees payment, and if we ever get into a dispute or there's damage, Airbnb will deal with it and it's like a backup insurance for me. We live on site so it helps with screening and reviews as well. I feel like I get a better sense of a person from their reviews than a credit report or taking the time to call references that they cherry-picked. 

I'm also in midtown Sacramento and last year we completed an attic addition that we furnished as a 2-bed guest flat. It's been booked for 11 months straight! I listed it on Furnished Finder (mentioned above) and we direct people to book through Airbnb. Fees can turn some people off but I've found it worth it so far for the added protections and background reviews. We've had guests that found us through both sites. If you're comfortable allowing pets, I've found that to be a big selling factor. A lot of travelers have a high stipend for hotels but prefer to Airbnb for the yard and privacy. 

I'm about to complete an attic addition on our primary residence in Sacramento, CA. We plan to rent the space out (furnished) for short-terms, mainly 30-90 day rentals to healthcare workers (travelling nurses, drs, etc.) since we are close to several major hospitals. But we will also have a few super-short term rentals through AirBnb or other platforms occasionally, especially when we get through the pandemic and the nearby arena opens up again for major events. (Here's hoping!)

We expect to finish construction in Dec, so it's not likely we will have any renters until 2021, but we have spent a lot on the renovation this year. What can be deducted, if anything, at this point since we *intend* to rent the space out, but haven't yet? What other factors should we consider while we're looking for a CPA? Any tips on good questions to ask while we are screening for someone?

If there are any CPAs in the Sacramento area (or willing to work remotely!) that specialize in this area, please feel free to reach out. And if anyone can recommend someone they've enjoyed working with, please share below. 

For small stuff like that, I've used Task Rabbit. They finally came to Sacramento a year or two ago. There are several people on there with handyman skills for $30-50/hr. Once you find someone you like you can book them again. 

Houzz.com is an excellent resource for design research and inspiration. Try searching through photos, reading through articles, and you can save photos you like to your own "ideabooks" for reference later. I like to start an ideabook for each new project, then I can share that with my contractors and vendors to find similar materials.

If you're also just totally lost when it comes to designing, sometimes it's really worth a few hundred dollars to consult with a professional. I've seen a lot of ugly flips sit on the market because you can really tell the investor just went with the "Home Depot Special" with zero thought into appearances. Good luck!

Very excited for this one. @J. Martin Thank you for making the trip!

You are smart to hire a designer! Most should be able to provide you with a less involved service that includes a drawing, color palette, and some accessory/finish options and let you take it from there. 

Whenever I do a project in a new city, I start with Houzz.com. Search for your city, find some photos that you like, and look up the designer. You can  also filter photos by room, style, etc, to get some ideas going. Good luck!

Managing the rehabs on multiple properties at once will certainly not be passive! It's a lot of work and requires a lot of attention to details. If your goal is to just kick back and watch the money roll in, I think David Oldenburg (sorry, can't seem to tag on mobile!) has the right idea. Loan to experienced flippers first, watch the renovation process up close (it's a lot different than it looks on TV), then try one yourself once you feel comfortable dealing with contractors, vendors, designing, etc. Or maybe you'll find that getting paid to watch is more your style. ;)

Aside from that, thank you for posting this question! I'm working on remodeling my first BRRRR property, and I've been trying to learn more about options in the "refinance" part. The responses to your question have been very helpful!