All Forum Posts by: Gorden Lopes

Hey Folks!

Is there anything different in terms of STR tax loophole if I do STR by the rooms? I am looking at a 3/2 house which I think might work well if I rent it by the rooms. But I am not sure if there is any thing different in the way the tax law might be applied.

Appreciate any feedback.

Regards,

Gorden

Hey @Shane Lyons!

I agree with @Michael S.! While you are waiting for the deals, I would say work on getting your finances in order (either getting pre-approved with a lender or having the cash ready) and also network as much as you can.

Cheers!

Somehow BP did not post my entire message above (weird)! But thanks once again for your insights on this thread!

And thanks @Teju Prasad for starting this thread!

@Mike Neubauer  @Mike V.

@Mike V.

@Amy Alexander

This is a HUGE red flag....I have been investing in Hsv for past 5 years and never heard anything like this before.

Can you share the PM info? 

I have worked with Aarong Byrne from Marshal Reddick on few non-bank loans for my deals and I have had a great experience overall. 

I have referred you guys to many of my other investor friends as well.

@Jessie Kristie 
Sorry to hear that and thanks for sharing! You should also create a twitter/Insta/Fb story and tag the management. I will be happy to share it on my feed.

Being a immigrant myself, I feel a lot of anger at such blatant racism.

@Chris Mignone thanks for the shoutout!

Hey @Akshar Puri

I was in your shoes 5 years back and ended up starting a local bay area group of folks investing in Hsv. The group is very active and I am happy to add you to the group. DM me for more info. 

Hi @Alex Na!

Welcome to RE investing. I am a fellow investor investing in Huntsville.

Are property taxes double for investors in Huntsville?
>> Not really but there is a homestead tax exemption for retail buyers so yes taxes will be little higher for investors but you can easily calculate the taxes by going to countys website. For example here is the madison county estimated tax link

https://www.madisoncountyal.gov/departments/tax-assessor/estimate-taxes

Is there any tax benefits in having a LLC incorporated in Alabama with local address for real-estate taxes?

>> There is no tax benefit in having LLC vs having it in your name.

Also any recommendation for good title companies that are affordable than what builder's provide?

>> I have used harrison and gammons and Conwell Title and have had good experience with both of them.

Hope this helps. All the best in your RE journey!

@David Lutz

Congrats! Buying new construction was an excellent move...with super low interest rate and high demand...I am sure you would have got super healthy appreciation as well.