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All Forum Posts by: Rudy Planter

Rudy Planter has started 16 posts and replied 57 times.

Post: STRs in New Hampshire Lakes Region

Rudy PlanterPosted
  • Investor
  • Tilton, NH
  • Posts 57
  • Votes 23
Quote from @Greg Brooks:

@Rudy Planter hey there! First time posting anything in this amazing forum!

I was wondering how your quest is going? I just started really checking out lakes region for str. Noticed Laconia looks to be cracking down as well as North Conway. 


Hey Greg, how's it going? The hunt continues. Market in general is tough. The STR landscape remains tricky to navigate seemingly from town to town. Are you still targeting STR potentials?

Post: Funding An LLC From W-2 Income

Rudy PlanterPosted
  • Investor
  • Tilton, NH
  • Posts 57
  • Votes 23

Hello all,

I set up an LLC. Is there an tax advantageous way to fund capital to the LLC from my W-2 income. The LLC has a separate business account in a different bank from my personal income.

Thanks
 

Much appreciated! Do you have any trustworthy CE referrals in the Lakes region? Are you finding anyone newly constructing A-frames/smallish houses around the lakes? 

On another note, as a gc are most of your subs technically separate entities or your crews?

Originally posted by @Account Closed:

First step is talking to a civil engineering firm. They will know everything that's needed and put a real dollar amount on the project

Thanks Bill for the direction. Have you invested using new construction?

Post: STRs Avoiding Conway due to regulations

Rudy PlanterPosted
  • Investor
  • Tilton, NH
  • Posts 57
  • Votes 23

Yikes...just worked up a proposal package on a Conway condo today....nevermind.

Post: Revedy Vacation Rentals Feedback

Rudy PlanterPosted
  • Investor
  • Tilton, NH
  • Posts 57
  • Votes 23

Anyone have experience working with Revedy for buying vacation rentals? 

Hello all, 

Looking to purchase land in Lakes/Mountain Region with a strategy to build an STR. The town has been pretty responsive thus far. The plot isn't cleared and needs a survey. The listing agent says I could take advantage of the surveys happening on the abutting properties. ???

1. How would the abutting surveys benefit me as I would have to get a survey done?

2. How would I go about developing an s septic plan for approval? (This is the first requirement per the town)

3. What are the trickiest parts to putting together this type of deal?

Post: STRs in New Hampshire Lakes Region

Rudy PlanterPosted
  • Investor
  • Tilton, NH
  • Posts 57
  • Votes 23
Originally posted by @Kyle Lacasse:

@Rudy Planter, keep in mind the NH Meals & Lodging tax that you must pay out monthly.  You'll need a license # to operate, and submit, etc.  Feel free to reach out if you need anything, I'm in the area. 

Thank you Kyle - will do! Do you manage in Alton or Gilford?

Post: STRs in New Hampshire Lakes Region

Rudy PlanterPosted
  • Investor
  • Tilton, NH
  • Posts 57
  • Votes 23
Originally posted by @Michael Baum:

@Rudy Planter all we are doing is the single lake house in Idaho. The BnB idea was a looong time ago and not in the cards any longer.

Also, on the language you stated for Alton. Lodging house or bed and breakfast are considered occupied and/or managed units. Like a hotel and are usually subject to different rules than a STR.

Ok. Gotcha. I'll definitely have to dig more.  Thanks.

Post: STRs in New Hampshire Lakes Region

Rudy PlanterPosted
  • Investor
  • Tilton, NH
  • Posts 57
  • Votes 23
Originally posted by @Greg Powers:

Congratulations @Rudy Planter on getting a house under contract!  That's no small feat in this market, and your experience of multiple offers on multiple houses is pretty common right now, so kudos to you for your perseverance!

As you may know, New Hampshire is big on "local control," so the counties don't have too much influence, unlike other states.  Any ordinances for or against STRs will be at the town level.  Most towns make their Zoning Ordinances available online, so a Google search like "Wolfeboro Zoning Ordinance" will usually pull them up.  If they're not online, you can find the town offices online and there's usually an email address for someone who can send it to you.  Since regulation of STRs is fairly new and evolving, it might also be worth checking the minutes of recent Planning Board meetings to see if there has been any discussion on the subject, although it's probably easier to just ask whoever the Planning Board commissioner directly about that.

If you are considering condos for STRs, you'll need to look through the Declaration of Condominium, Bylaws, and Rules & Regulations for any prohibitions against rentals and for any minimum lease terms. If you need help with that let me know. Although some condo documents are readily available, sometimes they can be difficult to access them unless you're a unit owner, and some are behind paywalls; but often agents who are selling a unit will post them in the MLS, so I can go back and find them. If there are no restrictions in the condo documents, you'd be wise to do some further due diligence and make sure there haven't been any recent amendments that prohibit STRs, but at least that first sweep of the condo docs will show you if they've already been prohibited.

Ditto if a single-family home is in any kind of subdivision. There may be old covenants or HOA rules that haven't been enforced in years, but could be if an irate neighbor decided to pursue it. Usually those covenants will be noted on the deed, but you might have to go back a few deeds to get a book and page reference for them if they're a separate document and not explicitly enumerated in the deed itself. They're not likely to say anything about STRs, since those are a recent phenomenon, but they might say something vague about rentals, and vagueness is the attorney's playground

Following your guidance, I found zoning for Alton. Looks like "lodging house or and

Following your guidance, I found Zoning for Alton. In the Table of Uses, it looks like "lodging house or bed and breakfast" is allowed most places. I haven't seen any info yet specifically on air bnb in the Oordinance or ordinance by-laws. I'll keep researching.