All Forum Posts by: Kerry Baird

Excellent framework for growing our portfolios

The only time I used cost seg was on a house that was over $1M and bonus depreciation was at max.  You have provided a variety of situations where doing a cost segregation study would be useful.  Thanks~

You’ve got a good system going, to find and get funding for these acquisitions.  Congratulations on your repeatable success!

Good to know. Using these parts of local zoning can lead to potential deals.  

I would guess that an employee in the zoning department could answer questions, too.  My local code enforcement officer is happy to take calls. 

Those property use codes may come in handy for other purposes, such as when my municipality is aiming to ban STRs.  

How inspirational! Using David's advice to find a house where you could create value was an excellent first step, and then you followed through and added value to the property. Lastly, you created extra cash flow with the utilization of STR bookings. Nice job!

There is a forum here specifically for STRs, where you can share your successes and ask question of those who have gone through a similar circumstance.  I hope to see you posting there, too.  

I have attended local meetups so that I can have a handful of experienced folks who have resources to share.  It helps to know which plumbers or electricians like a remodel project vs a new build project.  Our first purchases were ones that we lived in and added value while we learned.  You might also meet title agents who have resources on, say, foreclosures or probates…and might recommend lenders who actually lend on more difficult projects (as the title companies also know which lenders can close and which are difficult).

I also go visit open houses to see what sorts of finish to put on my renovations or to look for the next house or area in which to purchase.  It is a way to see the interiors of houses without obligation or disrupting owners.  The more houses I see, the better.

I purchased sub2 a handful of times for fix-and-flip types of situations, where I was in and out of the deal in 3 months.  I have also utilized owner financing for longer periods of time, including personal residence and 2 barrier island houses on the coast of Florida.  Tired landlords have been the sellers in most of the situations, but also kids who inherited a probate house, and don’t have the resource to fix it up.  

Welcome to BP and come on over to the Short Term Rental part of the forums.  

@Weronika Jedrak, I just found this thread and am wondering what your experience has been.  The renovation ought to be done and photos taken.  What has happened since then?

Thanks for posting your experience.