All Forum Posts by: Jason Smith

@Mario Am 2021 ruling says Tennessee requires a real estate broker’s license in the state to wholesale.

Set the signing order in Docusign, tenant 1, tenant 2, and last landlord (you). Upon completion all parties get an email with a completion certificate and download of lease. E-sign Act says docusign signatures from adobe, docusign hold up in court.

@James Roux Lol I use the same lease and docusign. I would beef up the additional provisions section. No satelite dishes on roof, no going on the roof or in the attic, no trampolines, no above ground pools, no aggresive breed dogs allowed on property, tenant pays all utilities, utilities be started, etc. My additional provisions are typed in (not handwritten) before I send them the docusign and then at the end of the provisions I have a docusign initial spot. He could always say you signed and added that additionsl provision after it became an issue.

We have stayed a few times, in general my VRBO experiences have been a little better. I don't enjoy telling my wife the pictures and reviews were great, I am sorry this place turned out to be so gross. I have stayed in places that violated Condo rules and zoning. I can't comprehend how some STR have glowing reviews, but if a hotel was in that condition it would be a 2.5 star rated hotel on Google. I think millenials think it is hip so they give them a lot of slack, eventually the facade may crack like Uber's did.

Text them and see if they respond. If they do then phone interviews where you go over every requirement, tell them about the background check, that you will verify income, aggresive breed dog rules, and stress the expectations of cleanliness you expect. This weeds out a lot of people. Do the showings 15 minutes apart. Even after all this I still get people that come see a place and go through the application process with bad credit and 90 day late car payments. Also have people after seeing the place and before the application say "I want the place but need to let you know I have [fallen on bad luck/ESA pitbull]". You just stand firm on the requirements equally for everyone. Once even had a conman with a local news segment try and give me 6 months cash up front thinking I would be so thrilled we could skip the background check. (His name was painted on his work van and the internet exists so we didn't get to the background check).

Inflation, competition and everyone charging way more than they did pre-pandemic. I just looked at the place I stayed at on the Gulf Coast pre-pandemic, was $115/night before pandemic now asking $202/night. At $202/night, plus meals, plus tax, plus $140 cleaning fees we will just take a cruise which is now an option.

Also watch out because a lot of old gas stations around me were turned into mechanics shops and used car dealerships. The gas tanks are still in the ground. Only 2 have been bulldozed one turned into apartments and one turned into a coffeee chain. The EPA had them running ground water pumps for 2 years plus until they said it was clean enough to build.

@Nathan Shankles I do mine myself. Two rental duplexs. Working w-2 couple. Tax questions are how I originally found Bigger Pockets. It probably took 24 hours the first time it with 1 rental property (but tons of receipts from rehabbing a horder duplex in a great part of town). TaxAct helps a lot. But you have to figure out cost basis of structure for depreciation over 27.5 years, depreciating anything over 2.5k over approriate schedule, what cost go towards cost of the loan and can be expensed over the life of the loan (and what to do if you refinanced last year), mileage deduction logs, etc, etc. It is a good way to learn. But you would have to know when everything started depreciation, and went into service from old tax returns. Starting with 3 properties would be very time consuming.

@Stephanie Romo find a time machine and go back sometime between 2011 to 2018 and buy something if you want to make money buying and renting in Central Florida.

@Joaquin Camarasa nice car. With the pre-order lists for f-150s and mustangs the way they are I doubt he would qualify as the 200k tax credits allotment will likely be gone. Unless they come out with a new credit, or maybe a large portion of the f-150s are work trucks and don't eat away at the credit.