All Forum Posts by: Julia Myers

Thank you for the insight!

Can you share how depreciation works in a Joint Venture? Partner brings caliptal/down payment (passive involvement) and I do the management (active REPS activity). If there is only a JV and not a new LLC formed, what forms are issued at the end of the tax year?

Does the K-1 show depreciation allocated by % ownership? Or does the active partner get 100% depreciation?

The Short Term Shop has a local office that has very experienced agents in the OBX as well.

I got a call today about my newly listed property in Raleigh. I will entertain Christina this afternoon to learn more and report back. Of note, I am already doing STR and MTR in other markets and this property is fully furnished and listed in several places for my ideal tenant.

With only one door (a STR) and a consulting business we have less than 30 transactions per business per month. I am at such an early stage I hate to commit the overhead to QBO but feel I have outgrown my excel sheets for P and L. Guess that is the cost of doing business :) Thanks for the feedback! 

@Max Emory - Great list and I am saving as I grow/scale. 

Is your quickbooks online or desktop? I have two companies (Consulting and RealEstate) and want to upgrade from excel but the monthly fee for two companies online essentials package is $50/mo after the discount. No employees and just want for P and L and tax prep time. Suggestions?

I analyzed for a month and finally decided they all are fine and have their own pros and cons. 

I just started with Lodgify (Chanel manager) and have a few observations to share. First, “free” trial allows you to build the website and access all the tools but actual integrations with the OTA (Airbnb) required a paid subscription. I bought one year for my single property and the API approval took one business day.

One week later, I am still learning and improving my understanding. Downfall so far is to at the app only allows you to view the reservation communication module. You can’t update or modify any settings from the app. You have to log into the desktop version from your browser (not super mobile friendly) but gets the job done. Hope that helps someone! 

I’m a first time investor and close in OBX next week! After we ran our numbers,  we found that a jumbo loan was a better rate and less competitive thank $500k and under properties.  

I have lots of referrals once you get going. GL!

Also an out of town investor that will look up up when I am there next time! Thanks for hosting.