Eric Mcginn
How complicated is seller financing?
22 November 2024 | 2 replies
As far as permits and renovations and ADU additions?
Ryan Leake
Navigating STR Loophole Tax Strategy: Success Stories and Cautionary Tales
18 November 2024 | 47 replies
Given that it is near the end of the year, it is almost impossible to get the STR permit and actually rent it before the end of the year, most likely, I am not able to get any tax benefits in 2024.
Sarah Moore
Crazy Idea to get started. What do you think?
24 November 2024 | 19 replies
This can lead to more opportunities and partnerships.Market Understanding: As a property manager, you'll gain a deeper understanding of the local market, which can be invaluable when you start acquiring your own properties.Steady Income Stream: Property management can provide a consistent income, which can be particularly beneficial in the early stages of your real estate venture.Skill Development: You'll develop a range of skills from customer service to maintenance oversight, which are crucial for successful property ownership.Brand Recognition: Establishing a presence as a reliable property management company can boost your reputation, making it easier to attract tenants and investors when you start acquiring properties.Cons:Time Commitment: Property management can be time-consuming, especially if you're dealing with multiple properties or demanding clients.Regulatory Compliance: Staying compliant with local laws and regulations requires diligence and can be complex.Conflict Resolution: Dealing with tenant issues and conflicts is an inevitable part of property management and can sometimes be challenging.Financial Risk: There are financial risks involved, including late payments or damage to properties.Market Fluctuations: The property market can be unpredictable, affecting both rental income and property values.Overall, starting with a property management company can be a smart way to enter the real estate space, especially in an area with a clear need for such services.
Edward Zachary Samperio
San Antonio STR Regulations: Summary of Findings and Next Steps
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!
Shibu Thomas
renting out a basement apartment.
20 November 2024 | 18 replies
All you're doing is finishing space and you should be able to go through normal permitting processes to get that done.
Sheena Varghese
Flip taking longer than a year and tax implications
22 November 2024 | 12 replies
Just keep thorough records of your expenses—materials, labor, permits, etc.
Stuart Udis
Structuring your entities for anonymity is NOT asset protection
21 November 2024 | 39 replies
On one occasion I overheard two customers chatting in the waiting room and they had no idea I was the owner.
Nadir M.
Which PM software is most recommended?
23 November 2024 | 9 replies
It depends on the number of Units, Residential or Commercial, Apartment Complex or mix of Single Family and Multifamily.Under 25 unit - Tenant Cloud, Rentech.Under 100 - Then Doorloop/Buildium.100+ - AppFolio, Yardi, Rent Manager.Apartment Management : Yardi seems to be wildly usedSingle Family ( Mixed ) - AppFolio seems to be popularRent manager has a good customer support team.
Jamie Hora
10-Acre Subdivision - Project Completion- DFW Area
13 November 2024 | 8 replies
This City required individual lot grading plans, signed & sealed by an engineer, for each building permit.
Jay Hinrichs
How U.S. can lower housing prices? And Could Trump look at Broker model as Broken?
20 November 2024 | 45 replies
Regulations include NIMBYism, slow permitting, over permitting, zoning that has not been brought to current demands, etc.