All Forum Posts by: Patrick Shawn Faherty

I assume you are out of the “grace period” for an impulse purchase and the company want let you out of it. Be warned they are worth a lot less than you paid. I just sold one I’ve had (and used) since 1993. I’d recommend listing on eBay as the previous poster recommended. Also put it on TUG (Timeshare Users Group - www.tug2.net —there are a lot of helpful ppl there (like this forum)). As a last resort, try Timeshare Exit Team. They will charge you $3-5k+ but guarantee they will get you out of the contract legally or your money back.

Congrats on the big step. I’d be sure to “reserve” 5-10% for maintenance and 5-10% for vacancies.

Originally posted by @Cesar Rebolledo:

@Patrick Shawn Faherty  my cousins name is Patrick Flaherty.  I don't know why I thought I'd bring up that useless piece of information!!

 LOL. No worries.  (And I don't know him ;0 )

Split personality?

Originally posted by @Phil LeNeveu:

Something seems a little fishy here....

https://www.biggerpockets.com/users/martelantoine

https://www.biggerpockets.com/users/AntoineMartel

This info may help. https://www.forbes.com/sites/anthonynitti/2015/11/24/irs-taxpayers-may-immediately-deduct-the-purchase-of-assets-costing-less-than-2500/#4171b1f93be7 "De Minimis Safe Harbor: Under IRS Regulation Section 1.263(a)-1(f), landlords can deduct a wide variety of low-cost personal property items used in their real estate enterprise–even if the item would normally be considered an improvement rather than a repair. In this context, the term ‘personal property’ refers to pretty much anything in the property that’s not permanently attached to the dwelling. One common example: appliances. Most landlords can deduct such items, up to $2500 per item–up to a cap of 2 percent of the annual rental cost for the property."

Might be worth a shot!

Notes is not a bad idea. Or use an online platform like realtyshares, RealtyeVest, or Realtymogul.

Welcome from Stafford, VA.

I just listened to his podcast (#205) on the way to work today. He in fact has and is officially out of the workforce.  Congrats to him.

I saw @Account Closed resigned from Fox News. I wonder if he made his "Freedom Number" and is now a full-time REI?