All Forum Posts by: Clint Harris

But yes, my properties are out of the flood zone, but I do still carry flood insurance besides just wind and hail

No, but I bought a commercial ice machine, and I’m almost halfway done lining my properties with Yeti coolers.  Once I install the giant fans on the corners and put lifevests under the guest beds I think I’ll be set.  

 I didn’t, and I’ll tell you why. Once you 1031, you start the clock.  I bought 7 of my investment properties 2008-2013.  Prices were rock bottom, so when they eventually appreciated, on the first few, I tried a 1031.  So when that happens, you start a timer. A 1031 usually costs 2-3k in attorney fees.  You have x-amount of days to identify your next property.  If, as in my first 4-5 properties, you were only looking to save less than 10k in fees anyway, the first time a deal falls through, and you pay that tax, you quickly realize that a 1031-exchange is designed to make small time investors feel like they’re pulling off a big deal.  It’s not worth it. Anything less than 10k, pay the tax and roll on.  If I was 67, I’m sure I would think differently, but in terms of the time-value of money, 1031 is only worth it if the velocity that i can add to that tax deferred sum is equal to or greater than that same number in the S&P 500.  If it’s not, then roll on.

 Sure man, I don’t hide, I share with anyone, text me at+19105151785, if I’m not in surgery, real estate is my favorite thing to chat about

Yeah man, it was. Now with our automation, it’s 1/5 the management time as out LTR properties with 3.5-4x net profit after debt service. 

Did that work? That’s one place to start there are a couple more posts that may give the whole story. Honestly, I hate technology, but it might be time to start writing blog posts

https://www.biggerpockets.com/...

 Hey man, happy to share that, I’ve already written a lot of that up in a post before that I think was titled something like automating my short term rentals. I’m a see if I can track that down and share it, it will save me a lot of time 

 No, nothing special required.  AirBNB collects our taxes and pays them, others like VRBO and Booking require us to send them I separately.  All can be easily managed through a software app like YourPorter

@Jason Turgeon, there we go, sorry man, read above, I didn’t know how to tag you