All Forum Posts by: Jeff Piscioniere

Michael Frankel all good points mentioned here. Depending on the locale of your STR ask yourself if providing soaps and shampoos is necessary. My vacation rental cabin is 800miles away and our cleaning crew is busy going from one rental to another. If you’re looking at a high volume of guests, that could be an extra charge that a cleaning crew might charge. My guests will often ask if there is soap and shampoo and I explain that this is for most people a very personal choice and bringing there own might be a better idea. Now our cleaning crew does put out liquid soap in the kitchen and bathroom sinks but that’s it. Now if your rental is going to be secluded or nowhere near a CVS or Walgreens, then maybe you might have to provide these things. Or if you are actually managing then maybe you choose soaps and shampoos. I’ve racked up positive reviews with the possible mess or extra expense of soaps and shampoos. Good luck!

Steve B. Perfectly said!!! Love it because it’s so true.

Carl Fischer yes I’m aware and I’m in no way passive and feeling sorry for myself. I’ll be combing the forums hoping to cut through all the ambiguity.

Not everyone is or has access to amazing CPAs. It could take quite an effort to properly educate everyone. I for one am very concerned.

Meghan McCallum thank you for starting this post! I posted a similar post on the short term rental category expecting a bunch of comments and responses and only got 2. Maybe because it’s Friday but I really thought people would be more attuned to what’s going on in Congress.

Brandon Hall can you spend some more time explaining the “passive participation” concept? This is very confusing. Additionally, I’m a vacation rental owner which I self manage on the booking sites. Is it true that this will be exposed to a self employment tax, and why is this viewed differently? Thank you!

Throwing a quick hit and run post out there because I️ want to keep it open ended. If you’ve read @Brandon Hall post on the House’s tax proposal his first “Biggest Loser” category sights short term rental income as possibly being exposed to self-employment taxes. Am I️ right? What are the details? What am I️ missing? What could this mean to VRs and short term rentals? Looking forward to what I️ anticipate to be many responses. This could be big. Jeff

@Diana T. I just sent you a colleague request and my contact info!  Would love to chat!!!

Chukwudi Motanya I’ve actually heard very good things about Knoxville and the potential for investment in the area particularly near the U. Tennessee campus, specifically I’ve heard across the river south of the campus where more students are living off campus. From what I understand there is good pedestrian/bike access across a bridge. There is always going to be a need for housing so in my eyes it should be viewed as an up and coming city. An additional thing to consider is that the Knoxville airport is currently under expansion which is designed to increase the capacity for the number of larger planes it can accommodate. Whether a spoken goal or not of airport expansion, that’s only going to make the city more accessible to the rest of the country and world! Keep the BP community updated on your search and good luck! Jeff

Rojon Garrett welcome!!! I live in CT but have a very successful VR in Gatlinburg. I second what a great area Gatlinburg is for investment! Sounds like we’re on the same very focused flight path: have a job, like our job, but see the huge potential in real estate and planning for our retirement and family’s future. The other thing I’m considering is rolling some of my IRA into a self-directed account to invest in real estate. Looking larger scale there with the likely need/desire to partner with a group. If you’re sitting on any retirement savings that aren’t locked up in your employers 401K, it’s a great way to diversify vs sitting in and on this scary potential stock market bubble. Good luck!!!