3 August 2024 | 13 replies
Find a local bank and build a relationship...banks make money on deposit funds, your business seems to have a pretty decent deposit base.

4 August 2024 | 10 replies
Looking at AirDNA results, my biggest concern is occupancy rates, most of the calendars I look at have large gaps in them, and when you spend close to $500/sq. ft at current prices (in STR-designated areas), your property needs to rent well above 80% or you charge crazy nightly rates.We've also seen very few property management companies that charge less than 25% there (and 25% is rare), and some STR neighborhoods require you to use their designated PM (Desert Colors only allows Red Rock, and they are at 40% commissions - ouch!).

3 August 2024 | 16 replies
Under the IRS rules, a person qualifies as a real estate professional if: (1) more than one-half of the personal services the taxpayer performs in trades or businesses during the tax year are in real property trades or businesses in which the taxpayer materially participates, AND.....(2) hours spent providing personal services in real property trades or businesses in which the taxpayer materially participates total more than 750 during the tax year.Like @Greg Scott and @Russell Brazil mentioned above, I don't believe that you would qualify as a REPS, but if you are going to try it, make sure you document it very well (i.e. with some kind of proof, like time cards, mileage forms, and/or receipts, etc.) so that just in case you do get audited, you at least have something to provide to the IRS agent.

2 August 2024 | 1 reply
We are running into some problems with ABODEA because they no longer allow us to update our properties with them and we have to send an email in each time we want to add or subtract a property.

1 August 2024 | 4 replies
The insurance market is very tight right now especially on older buildings.Many carriers who have policies on the books will not accept those same properties as "new business" or if they do the rates are 2x-10x what the current policy premium is.

5 August 2024 | 7 replies
We still need to send the business plan to one of the private lenders who we have been talking to and who has been giving us pointers helping us along the way as we are new Real Estate Investors.

1 August 2024 | 10 replies
The Larger homes tell a different story, these are more expensive purchases but allow for large groups to travel together and more importantly for you, split the bill together.

3 August 2024 | 10 replies
Have around 10 units self managed and looking to optimize my business systems to be slightly more scalable and automated.

2 August 2024 | 0 replies
I plan to install new locking mailboxes, that would also allow for secure package delivery.

3 August 2024 | 11 replies
Would I be doing business today like on 12/21/2012?