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16 November 2024 | 12 replies
The difference between a safety line and a safety net is that a safety net (your words) can break one line and still hold a fish.
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19 November 2024 | 12 replies
You can always withdraw money from your personal to LLC or vice versa, however, it's important to draft an agreement by calling it "letter of advancement" so it can be documented when you advance/lend money to your LLC or retrieve money from your LLC to your company for legal and auditing protection.
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14 November 2024 | 8 replies
And in many cases this may be warranted as health and safety issues may be present.
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20 November 2024 | 9 replies
You may get some decent advice here, but you will want to build that relationship in advance anyway.
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22 November 2024 | 92 replies
Common utilities paid by the landlord will be similar if not the same; standard services (extermination, changing filters, snow removal, fire safety inspections etc.) will cost the same.
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19 November 2024 | 1 reply
After reviewing the latest ordinances, reports, and city guidelines, here’s a summary of my findings as of 11/18/2024:Key FindingsPermit Types and Fees:Type 1 (Owner-Occupied): $300 for 3 years.Type 2 (Non-Owner-Occupied): $450 for 3 years.Density caps apply to Type 2 permits (12.5% of block face).Enforcement:3 violations in 3 years lead to permit revocation.Fines up to $500/day for violations.Hotel Occupancy Tax (HOT):City: 9%, County: 1.75%, State: 6%.Platforms like Airbnb and VRBO will remit directly to the city starting Feb 2025.Platform Obligations:STRs must have valid permits; unpermitted properties will be removed by platforms like Airbnb.Special Exceptions for Density Limits:Require approval by the Board of Adjustment (BOA).Zip Code BreakdownI focused on these 11 zip codes:Under San Antonio Rules:78205, 78204, 78215, 78210, 78212, 78245, 78258Independent Municipalities (Separate Rules):Alamo Heights (78209)Leon Valley (78238)Helotes (78023)Next Steps:Research density caps and zoning in specific zip codes.Dive into independent municipality rules for Alamo Heights, Leon Valley, and Helotes.Evaluate market maturity and income potential using tools like AirDNA.If anyone has experience operating STRs in San Antonio or these specific zip codes, I’d love to hear your insights, especially about density limits, enforcement trends, or community sentiment.Thanks in advance!
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19 November 2024 | 8 replies
Looking forward to seeing your portfolio grow.Feel free to drop me a note if you need any help with cost segregation (how to reduce your taxable income using advanced depreciation).Chris Schmidt-Löffler
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19 November 2024 | 1 reply
Thanks in advance.