All Forum Posts by: Ashley Wolfe

@Jerry W. Experience can be the best teacher though!  We can read about it until the cows come home but getting in there and just doing it is what really separates the doers from the action-less dreamers.

@Jerry W. I’m a librarian.  It’s my job.  :)

I've been wondering about the same type of thing! If I have friends/family/coworkers interested in giving me their money to use for investments, what are the terms, what are the documents needed, etc. I'm also wondering if there's any range of ROI I would give my investors so they know what to expect.

Vacation Rental Goldmine - https://www.amazon.com/s?k=vacation+rental+goldmine&crid=PMADKLXJZGQ4&sprefix=vacation+rental+gold%2Caps%2C173&ref=nb_sb_ss_i_1_20

https://www.amazon.com/Rent-Vacation-Properties-Owner-Third/dp/0974824976/ref=sr_1_2?crid=PMADKLXJZGQ4&keywords=vacation+rental+goldmine&qid=1554935958&s=gateway&sprefix=vacation+rental+gold%2Caps%2C173&sr=8-2

Tax Guide for Short Term Rentals - https://www.amazon.com/Every-Airbnb-Hosts-Tax-Guide/dp/1413324568/ref=sr_1_9?crid=PMADKLXJZGQ4&keywords=vacation+rental+goldmine&qid=1554935995&s=gateway&sprefix=vacation+rental+gold%2Caps%2C173&sr=8-9

I've also spent hours listening to these podcasts in preparation to manage my very first Airbnb.  Get Paid for Your Pad and The Hosting Journey.

Have fun!

Cheers to your success!  Amazing rehab and design work!  Do you ever raise outside capital to do these deals, like an apartment syndication would?

@Cheryl Vargas and @Jim Cummings
My CPA said she found nothing saying we need to pay both sales tax and occupancy tax here in Texas.

Here is a Get Paid for Your Pad podcast about taxes: https://getpaidforyourpad.com/podcast/airbnb-taxes-in-2019-explained-ep272/  

I'm listening to this episode right now.  

Of course, an email to your specific CPA would also be recommended.  Please share if you find out additional info!

@Cheryl Vargas @Jim Cummings

I’ve emailed my CPA. So we’ll see what she says and I’ll update the thread.  

I've gotten my first quarterly "pay your local and state taxes" statement for our Sales and Use # that we established for our Airbnb business.  Occupancy taxes for Texas (6%) are already collected by Airbnb on our behalf.  However, should I be paying the 8.25% Texas Sales and Use tax on top of that as a vacation rental owner?

Thanks!

@Mike Reynolds I hired some local ladies to clean and I use Properly for all my checklists.

@Reagen Natho Thanks so much!  Come on down anytime!  We just spent about an hour walking through an 1890s Victorian home in downtown La Grange that, with the right amount of work, could be turned into an Airbnb.  I personally think that La Grange is the next Fredericksburg.  Big things are coming for this tiny Texas town.