All Forum Posts by: Jonathan B.

I'm an experienced out of state STR and LTR investor looking to dip my toes in the Florida market.

Want to be able to use it occasionally and we like the East Coast beach towns and more upscale areas near Disney.

I’m in the area regularly for work and can meet up in person. 

Feel free to reach out!

Hi all, we bought a STR in 2022 for 380k, renovated it for 200k in 2023, and rented it out in July, August, September of 2023 with an average stay of just under 6 days. We're changing our plan for the property in 2024 and plan to rent it out for two of the summer months on a <7 day basis, but then also use it for a month ourselves. Not looking to rent it out in the off-season currently. This will probably be the situation in 2024 and beyond. We are not real estate professionals.

1) How would you handle the classification of the property in the 2023 tax year and would you utilize a STR depreciation strategy?

2) How would you classify the property in the 2024 tax year and beyond?

Thanks!

Experienced investor but REO newb looking for a Hubzu experienced agent in Northern New Jersey. Feel free to DM if interested.

Thanks everyone! @John Errico and @Mala S. any suggestions for neighborhoods to target/avoid in Union City? I'm going to take a ride as soon as I can.

After months of reading, listening and learning, my wife and I are ready to get our feet wet. We are a couple of late-20s full-time working stiffs who want to get started in the buy and hold space.

Motivated by @Brandon Turner's podcast stories, we think a house hack may be our best bet to start off. We bought our primary a little over 2 years ago in Bergen County, NJ with a conventional mortgage (prior to being inspired by BP). With our jobs now requiring us to be in and around NYC, we are exploring selling our property and buying a multi-family (3- or 4-family) in the developing, but low crime areas of Hudson County, NJ. We'd like to use a low down FHA loan, rehab it, rent it out and live in it for a year. Currently we are most interested in Jersey City Heights.

We'd love any input on possible locations or the feasibility of this plan. Also, we'd be very interested in speaking with any experienced agents in the area.

Thank you!

-Jon