All Forum Posts by: Jeff Piscioniere

Thank you Lynne Hart Herrera !

Andrew Ware thanks for the input. We are lucky because our on hand partner will be one of my wife's cousins. So it sounds like you've done deals in the Philippines before? Are there any issues working with the Filipino legal/real estate system that we should be prepared for? Thanks, Jeff

Thank you Steven Hamilton II and Bill Exeter Do you gentlemen have any idea on what tax exposure is then following a sale of international property? Thank you!

I'm honestly not sure what forum category to post this so I will start here, and thank you in advance for any directioning and assistance. 

My wife's childhood home in the Philippines is now in her name and it is sitting idle there doing nothing.  Her cousin who is successful there including in real estate was explaining that there is a possible great opportunity with the property.  In a nutshell it will be worth knocking down the home and rebuilding possible multiple residential properties including more floors.  Bottom line it could be a huge return.  My wife and I have no interest in holding real estate in the Philippines and the thought is to build then sell and if possible complete a 1031 exchange back to America where we would like to further pursue our very successful business of vacation rentals in Gatlinburg, TN, or really elsewhere I suppose where in the US doesn't matter.  My question is whether it is possible to complete a 1031 exchange from international capital gains, what the tax exposure is, and whether or not where a property in the US is purchased matters, i.e. TN or in CT where we live?

Again thank you greatly!

Jeff Piscioniere

Francisco Arango True connection request granted!

Francisco Arango I would love to chat with you about Gatlinburg! Send me a PM and we can find some time to connect.

John Arendsen FYI, I get at least 3X the views of my listing with TripAdvisor/Flipkey vs Airbnb. I still get more bookings with Airbnb but it is approaching 50/50. The fees to the guests, and to a lesser extent the host, are ever so slightly higher with TripAdvisor/Flipkey. What annoys me with TripAdvisor/Flipkey is that clearly from an inquiring prospective guests side of the site they cannot see what all the fees and total cost will equal so you get incessant questions like "What's your rate for such in such?" Or "What's the total cost for my stay?" I think they need to be more clear on what they might pay prior to wasting my time answering questions like that. Additionally, it seems that TripAdvisor/Flipkey is populated more with bargain hunters with more frequent questions about offering discounts and way too many responses to inquiries never even are reciprocated with a thank you. Bottom line from a business standpoint is that I'd be foolish to not put my listing in front of all those VR seeking eyes.

John Arendsen I'm going to tell you the exact opposite and say that Airbnb has given me greater success for my VR in Gatlinburg, TN. In fact I use Airbnb, VRBO, and TripAdvisor/Flipkey with VRBO coming in a distant 3rd place. I find it amazing how often I hear people say Airbnb is for younger people or people looking for just a room because, again with me, just the opposite. Tons of families and older couples. I think it all depends on the market and the quality host you'd like to be. I personally think Airbnb has hands down the best platform of the 3 and their mobile app is kick butt compared to the other 2. In fact VRBO's mobile app is almost embarrassing. I run my whole business from my iPhone and am really thankful VRBO is coming in 3rd to be honest with you. Good luck!

Great to hear Lucas Carl!!! Just an indication of how encouraged I am, I have someone about to book with me because where they were going was destroyed. See, the people will come back!

Kevin, All the major tourist areas survived (Dollywood, Ober, downtown, the aquarium). We were blessed and our cabin was unscathed but a short distance away a complete loss. I've already been encouraged. We had someone reach out to try to book with us 2 weeks from now because there location was destroyed and they still wanted to come down!!! The people are strong and it's still the most visited national park in the country. We are extremely positive!!! Jeff