All Forum Posts by: Garrett Schneider

Short term rentals! I am in the second highest  tax bracket and lowered my federal tax rate to less than 10%. This was with two STRs and cost segregation studies on both. My wife runs them and we file jointly. 

Thanks for your response, Andrew. It was something I haven’t encountered before but we’ll see how it goes!

Quick question regarding attorney representation...

I am under contract on a lake house, using an attorney local to the property. I have obtained financing from a local bank as well, who will be utilizing the same attorney to represent them in the transaction. I’ve been assured that this helps to streamline the closing process. Is this common? Is it a conflict of interest in some fashion? Anything I need to watch out for? Thanks in advance. 

Hello all, I've been lurking here for a few months but wanted to get some advice about what to do with a $100k HELOC I am closing on shortly. I am a medical professional early in my career but getting a little burned out with long hours and wanting to spend more time with my young kids. I enjoy the job, the high income, and would like to replace some of that with passive(ish) income to cut down to part time in the next several years.

The HELOC has an intro rate of 1.25% for six months so I'd like to take advantage of that. So what would be the highest yield way to jumpstart my RE adventure? I am drawn to STR because of the potential for using it ourselves, but would consider other opportunities. Thanks in advance.