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All Forum Posts by: Tyler Sherman

Tyler Sherman has started 9 posts and replied 24 times.

Quote from @Lauren Kormylo:

Are you a new host?  You'll get a lot of these at first because scammers prey on newbies.  They ask about staying long term, hoping the thought of all that money will entice you to interact with them and leave your defenses down.  They can use your video to create a fake listing and scam other guests out of money.  After you've got a lot of time invested in them, they will ask to communicate off platform, and say they're having their employer send you a check.  The check will be for more than the amount, they'll say there was a mistake and ask you to refund the difference.  Weeks later, you'll find the original check was no good, and you'll be out the money you sent them.  

This sounds right. Thank you for the input
Quote from @Caleb Brown:

Looks like he might be foreign so using Google translate? To me he is asking for you to do a walk through video of it before he books it. Seems like it could be a hassle. If you had enough bookings I wouldn't go too far down the rabbit hole if the person isn't super serious. 


 Thanks, Caleb. It’s weird though because I received multiple similar messages from other foreign users.

hey squad - Curious if anyone knows why I keep getting messages like this on Airbnb. Seems scammy just not sure what they are getting out of it. Thoughts?

Thanks all. I realized that a lot of my losses were taken off my W2 income since I made under 100K for a couple years. This made the rest make sense.

Hello! I'm working with an accountant and I'm a little annoyed because I'd like to understand how the carry-forward suspended losses is calculated and I'm not getting a clear answer. I thought it would be as simple as adding up all of my losses  from Schedule 1 - Additional income and adjustments to income line 5 over the past few years. 

I'm a little skeptical of the amount the accountant told me it was given my expenditures and rental income over the years. Appreciate some insight here. Thanks!

Post: MTR leases vs LTR lease

Tyler ShermanPosted
  • Posts 24
  • Votes 13
Quote from @Bonnie Low:

Generally speaking, there are differences though it will vary by state (most important) and depending on how you operate your property. For example, our MTR lease mentions that utilities, including WiFi are included up to a certain $ amount. We also have a no parties clause, quiet hours and no overnight guest clause in our MTR lease. We also have a lease addendum that is the inventory of furniture, appliances and supplies that we go over with the guest at check-in and they initial that the inventory was present when they arrived and is expected to be present when they leave. We don't allow mail delivery at our MTR and this is mentioned in the lease. We DO require renter's insurance in our LTR but not in our MTR so that is another difference.

I use a state-specific lease from Avail.co for California. It has all the required and necessary language as well as the ability to edit or add specific clauses. 


 This is great. Did you draft these changes yourself?

Post: MTR leases vs LTR lease

Tyler ShermanPosted
  • Posts 24
  • Votes 13

Hello! I’m new to the MTR game. I’ve been doing LTRs for a few years. Can you provide me with some guidance on lease agreements for MTRs. For example, I lease a property on furnished finder for 3 months. Is the lease different from an unfurnished LTR? What should I keep in mind? Are there boiler plate MTR leases. Thank you.

Post: Ask Me Anything Mid-Term edition.

Tyler ShermanPosted
  • Posts 24
  • Votes 13
Quote from @Matthew Masoud:
Quote from @Jake Hedrick:

@Matthew Masoud what is your process for furnishing the properties? Where do you get your furniture? Any must have features or amenities in your properties? How did you scale your management- are you managing yourself or outsourcing? How are you finding your deals? What metrics do you use to find your target market? (For example you mentioned you are expanding into NC) thanks in advance. Congratulations on working so hard to get where you are!


 A lot of very good questions Jack.

My VA orders all the furniture and my contractor sends me one of his employees for furnishing. I can furnish a 2 bedroom for $3.5k (including labor) and a 1 bedroom for $2.5k including labor.

Some units have more amenities than others depending on the building but we offer soap, conditioner, razors, ect. We are going for a hotel-level experience in an apartment.

I scaled my management with systems and a VA that can handle a decent chunk of the management but many things still require my attention. I'm in the process of hiring someone on the ground that can work with the VA and do it all.

I'm looking for markets with over run hotels and large business growth brining in Mid-Term labor.


 You provide razors for MTRs? Sounds pricey!

Post: Pest control and cleaner for STRs

Tyler ShermanPosted
  • Posts 24
  • Votes 13

Hi looking for recommendations in the area! Thanks!