All Forum Posts by: Todd Goedeke

@Justin Brin long term rentals definitely have greater wear and tear. STVR guests are rarely in the home. They occupy a property 60-70% of the time , nights booked per year and are not in the property most of time while on vacation.

Set your mind at ease by triple net leasing your property( leasing company pays for furniture, RE taxes, insurance and interior maintenance.) As a triple net lease tenant the property will get cleaned weekly, while making sure the property is properly maintained.

@Shiloh Lundahl has your direct bookings strategies allowed you to omit listing on VRBO and Airbnb?

Good job involving ChatGPT.

@Eden Meng contact your Solo 401k administrator regarding regulations regarding leasing  mid term and long term rental properties.They should provide guidance regarding prohibited transactions.

@Bill B. check with a RE atty. regarding depreciation recapture. 
There is no depreciation recapture for depreciation occurring before death upon sale by heirs.

@Alex Silang You answered your own question. Based on $110k investment it does not make financial sense from a ConC perspective to invest. $1,000/ mo. Only yields a 11% ConC return.

@Steffany Boldrini As a lesson to other people hiring interior decorators online, can you please tell everyone what caution flags should have told you not to hire this person?

Did anyone advise you, mentor you ,on how to find and vet an interior decorator?

Did you have an agreement in writing signed by both you and the designer regarding payment schedule and purchases?

@Jon Roberts could you give us an update what was your ConC return for 2023? What was your occupancy %?

@Eden Meng projections from syndications are all fantasy.  Don t give up control which you have via direct investing . Instead of flips do cash out refinance and hold onto properties for more than a year or two.

@Eden Meng be a part time Lyft or Uber driver , making a $1k per year. You qualify for a Solo401k. Thus you can transfer IRAs and old 401k monies into the Solo 401k and not be subject to UBTI.

@John Underwood agreed, everyone refer to it as the " STVR or STR tax code rule". It's an IRS RULE.