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19 January 2025 | 18 replies
I worked with a travel nurse who does shift work and 5 lenders said that they couldn’t finance her primary residence purchase and I ended up making it happen for her.
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23 January 2025 | 10 replies
Living in a great travel destination like Sonoma you should consider a duplex or triplex and operate the other unit(s) on AirBNB, VRBO, etc.
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9 January 2025 | 6 replies
We do a lot of mid term rentals from universities near by, and traveling professionals.
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5 February 2025 | 205 replies
Quote from @Don Miller: Internal lumber and roof sheathing in.
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10 January 2025 | 0 replies
When it comes to real estate, here's a general list of eligible assets and their depreciable lifespans that you should know: Residential Rental Property = 27.5 yearsThis includes any building or structure where 80% or more of its gross rental income is from residential units.That means:- Apartment buildings- Single-family rental homes- Duplexes, triplexes, and quadplexes- Mobile homes (used for residential rental)- Any kind of residential lodging facility where the primary purpose is long-term rentalCommercial Property = 39 yearsThis includes non-residential properties like:-Office buildings-Retail stores and shopping centers-Warehouses-Industrial complexes-Hotels and motels that do not qualify as residential rental propertyLand Improvements = 15 yearsThese include sidewalks, roads, fencing, some landscaping, and parking lots that are separate from the building.Personal Property = 5 or 7 yearsPersonal property used in a rental activity usually has a 5 or 7-year life.This includes most furniture, appliances, carpeting and various machinery.Qualified Improvement Property (QIP) = 15 yearsGenerally, this includes any improvements made to the interior of a non-residential building after the building was placed in service, excluding elevators, enlargements, and the internal structural framework.Computers and Related Peripheral Equipment = 5 yearsVehicles = 5 yearsNote that the land itself is not depreciable.
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15 January 2025 | 12 replies
Based out of Manassas, VA here :) The 750-hour rule is part of the IRS guidelines for qualifying as a real estate professional under Section 469 of the Internal Revenue Code.
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14 January 2025 | 5 replies
Deduct mortgage interest, property taxes, travel, and operational expenses.
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13 January 2025 | 4 replies
STR is a bit weird because the Covid travel demand pushed the price hardcore for the last few years.
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12 January 2025 | 1 reply
It also features a minisplit HVAC system and PVC exterior covering.We plan to market it as a vacation rental, given its potential appeal to eco-conscious travelers and those looking for a distinctive getaway experience.I’m reaching out to see if anyone has experience with selling or financing geodesic domes.
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15 January 2025 | 12 replies
Neither VRBO nor Airbnb are vetting guests, either.The best you can do is have some internal controls, such as minimum number of nights.