All Forum Posts by: Jonathan Tribble

Hello all,

I am looking at a trip-plex property in a forested area of northern Arizona that is 30 minutes outside of Payson. I am trying to get an insurance quote from my broker, but I am learning that the wild fire risk in the area is a 4 on a scale of 5 and they are having a hard time finding providers that will insure the property. It sounds like I may have to resort to a specialty provider to get insurance, but still run the risk of the provider canceling my policy if the risk scale continues to increase. Potentially leaving me without insurance if I can't find another provider to cover the property. All of this making costs very unpredictable.

Has anyone been in this situation before? How do you mitigate the risk of your insurance premium sky rocketing, or not being able to get insurance at all?

Or is owning in these types of areas just too risky to consider?

Thank you,

Jonathan

Hello!

I am getting ready to rent out my first property. The plan has always been traditional rentals. I like the tax benefits of it (expense deductions, depreciation, 1031 exchanges). However my realtor is really trying to convince me to consider doing AirBnB since it could potentially be higher profit margins in a perfect world.

The small amount of research I have done on the topic as it relates to taxes seems to suggest that I may be limited in what I could take as deductions and depreciation when renting short term versus traditionally. I would hate to be suckered into higher profit margins, just to see them wiped out in April!

Are there any CPAs out there that have experience with this?

Thank you,

Jonathan

Excellent advice Natalie, thank you 

Hello all,

Please forgive me if this is a well covered topic already: 

I just recently joined BP and am excited about all the great resources. One thing I'm having trouble with finding is a database of tax advisors. I browsed the contractor page on this site, but it appears that professional services are not included. I see that most people resort to posting a question in the forums asking for a recommendation in their area, but is there not a better way?

If no such thing exists..........   

Hello! I'm Jonathan. Just starting my RE business and need help setting up my LLC(s), and tax strategy. Any recommendations in Phoenix, AZ?

Thank you!!