All Forum Posts by: Chantal Jones

@Ken Latchers - I was also looking into FF, but heard way too many finicky things about that site as of late.  The FB group seems to dish out all the issues wrong with the paid website.  I will definitely look into Zillow and Turbotenant though!  Thank You!

Evening! I just got my first rental up and going with the intent to use it for corporate housing. I've had my eye on CHBO for quite some time. Are any of you still using it? I'm also on CL, FB Marketplace, Sublet, and Airbnb - just trying to gain as much exposure as possible.  I'm aware that results can vary based on location.  I think I may use corporatehousingbyowner bc the cost factor monthly isn't too crazy (plus I can write it off), but any other recent reviews from those of you who have been using it?

@Bill Hampton

Thanks Bill!  I literally just sent you a message as well.
Should the GA LLC be owned by the WY LLC though?
I think I'd still like to keep the WY LLC as a parent company.  I'm just not too sure what that means during tax time.
I do know that I want my LLCs to be taxed like a corporation to take advantage of more tax benefits.

Originally posted by @Bill Hampton:

@Chantal Jones, if the property is in Georgia I recommend creating a Georgia LLC and a new EIN for liability, accounting and tax purposes.

I created an LLC in Wyoming about a year ago with the initial thought that it would be a holding company for whenever I started my real estate ventures. I recently acquired my first unit via master lease in Georgia, and am wondering whether I really need to get an LLC in GA to operate it.

This property hasn't been purchased, it's simply going to be leased by my business. I will have homeowner's insurance for the business as well. Can I simply use my Wyoming LLC that already has its own EIN and bank account and business credit cards to do this master leasing business? Or should I just leave it alone and create a new LLC in GA that will be owned by the WY LLC?

Afternoon!  I'm about to head down to Atlanta, GA for a few months to get started with my short term rentals (most likely via master leasing/rental arbitrage to begin).  In doing some reading on airbnb itself, I see that the city of Atlanta requires all hosts to acquire some licenses (business, hotel, etc).  It seems as though it takes no longer than a week to secure a business license from the city.  I don't have any problem going through with the licenses, but I read that your property must also be in the correct zoning.  Is this heavily regulated by the city?  Has anyone in the Atlanta area ever come across any regulations/tax issues that I should be aware of?  

Just trying to figure out how to best navigate this as a newbie.  Any constructive advice/suggestions would be greatly appreciated!

Saw this info on Airbnb, but it was last updated in Jan 2015!!   https://www.airbnb.com/help/article/853/atlanta-ga

Hi @Prachel C.!  I look forward to your review soon.  I live in the NYC area, but will be heading down to ATL soon to check out the area.  I'm interested in getting started with short-term rentals or RALFs.  

I'd love to attend any meet-ups during my time there.  When are you planning to host one?

Hi @Ryan Zachary!  This is something I'm actually looking to get into, and doing some research on.  How is it going for you so far?

@Joe Villeneuve

Yes, I followed that only after I really thought about all of your respondes.  The way the seller listed the property stated the opposite though.  He wanted 5K as the downpayment, and for the buyer to use their own funds to rehab the property to either rent or resell.  I'm attaching it here for you to see and make sure I understood what he was saying.  

But, I agree with you all that I should definitely be the owner of the property before doing any rehab work.

https://www.realtor.com/realestateandhomes-detail/...

Thanks @Wayne Brooks, @Joe Villeneuve, and @Jim Pellerin.

I appreciate your input and advice!

I went to see the property over the weekend, and it didn't turn out the way I thought it would - so I just put in an offer on a property that'll require no work.

For my first time, it may not be wise for me to take on such a challenge just yet.

Thanks @Account Closed

I definitely didn't consider that, but you're absolutely right!

I went to see the property over the weekend, and it didn't turn out the way I thought it would - so I just put in an offer on a property that'll require no work.  

For my first time, it may not be wise for me to take on such a challenge just yet.