All Forum Posts by: Kerry Baird

Happy Veterans Day to my fellow brothers and sisters in arms! 

I learned so many skills in my military service that I currently apply to my real estate business.  We learned discipline and to be bold in taking action.  We learned to work long hours, and to problem solve and used those attributes to add value to our properties.  We used tax free money from our many deployments as down payments on properties.  

If you are currently in the service, use those skills to launch yourself into wealth.  Your future You will be grateful for it.  ~Kerry

Nice~

@Nic S., Food for thought...

I have been taking a look at our own portfolio and recently took some money off the table.  Yes, I'll pay taxes but there are a few reasons to cash out.  It was our longest held property, had built up equity.  Cash flow and appreciation in my portfolio is stronger in other areas that I invest.  We had recently remodeled and the house was looking good.  We will pay off some reno costs, and look for an investment in the better area, restart the depreciation and press on.  

That's about what I pay, and Proper is fantastic for STR coverage.

@Doug Smith, and that's fixed rather than a HELOC, right? Wow.

Yes, move to Texas!  You don't say where...and it is a big state.  If you invest in San Angelo, for example, you could buy 8 houses at $250k or so each with 20% down, and have a large down payment for your personal residence.  

@John K. so much better an answer than mine! My A/C guys said they aim for that 20 degree threshold.  No word about those other details.  I am currently exploring extra insulation. 

@Tsai Richard, there are many components in a house and they are depreciated at different rates.  There are some parts that are 5 year components and some that take the full measure of time.  The idea is to break the property up into those components and accelerate the timeline, so you get more up front.  Vinyl or carpet is a shorter time than tile, as an example.  I used DIY Cost Seg for my report. 

I bought one in 2019, 2020 and 2022, going with a 3 bed, a 4 bed and a 5 bed.  The first two houses gave me minimal problems and I learned as I went.  But the third...

The 5 bed is a recent target by neighbors in the municipality who have recently discovered that as much as they complain, they cannot ban STRs in the community.  The angry posts have been increasing in this municipality, so they are feeding on each other's negativity, and taking action towards visitors.  As an example, I have a neighbor 7 doors down, who is mildly "stalking" my guests, meaning he is taking their photos and posting on the NextDoor program, showing how many people are at my house.  He is not close enough to be bothered by noise, but he's from up North and dislikes that he bought a house in an area that allows AirBnbs.  I had a different neighbor randomly call the police on my guests, complaining about noise in the middle of the day, while quiet hours are between 10 pm and 7 pm.  A neighbor yelled at my guests, according to the police report, swore at my guests and told them they were not welcome.  Whoo boy. 

This larger house is one row back from the ocean in Florida's Space Coast.  I am developing my acquaintance with the Chief of Police.    I am currently putting up external cameras, have signs asking guests to respect quiet hours, have ordered a decibel monitoring device, and have visited with the police to explain I do not cater to parties. 

Any CPA types out there?  Enrolled agents?