All Forum Posts by: Morgan Painter

That a good idea! Yea the 1031 seems like it would be a hassle and trying to hurry to get a “good deal” doesn’t seem worth it. 

Aaron this isnt a way to

Increase revenue or occupancy without having the DAR really low without getting tenants in there that will trash the place. If we increase the DAR which is what we do in peak season even with 75%  occupancy doesnt make up for the rest of the year. We will look into selling it,paying the taxs, and paying off the debt and starting over. Thank you gor the advice. 

Wow! Thank you Eric for that awesome information. We will get with our CPA once he finishes our returns and see what our options are with the capital gains! Again thank you! 

Thanks for all the helpful advice!

Im just trying to figure out my next move as far as who to talk to so i can get some “solid numbers” and go from there. Im waiting on my CPA to get back with my tax info so he can give me a closer guess on how much capital gains would be. 

Can anyone verify if capital gains on a 2nd home voids after 2 years or will there always be a gains tax no matter when i sell. 

Not a broker but a realtor is where i got those rough numbers. 

Combined about $50k!

I have a STR that doesnt break even. Its our first one so it was a learning experience at the least. We are trying to decide the best way to exit this property so we can move on with other investments. We were planning on selling fully furnished between $325-$350k (we owe 238k)using the proceeds to payoff heloc/CC's etc we that we used for this project. We finished building it in 2024 and are coming up on 1 yr doing STR.

Should we sell it, pay the capital gains,pay off the debt and start from scratch with the profit left over or 1031 which willHave its own fees and not be able to pay off debt and learn that whole process in a short time frame. 

*ive heard after 2 yrs you can sell and avoid the gains tax but have also heard that 2nd homes/investment properties will always have the gains tax just depends on how long youve owned the house. 

We thought about long/mid term renting it but the numbers are there for a monthly tenant in that area. 

Hey guys having issues integrating guesty with VRBO. Im on week 2 of getting it integrated and still no luck. Has anybody came accross this issue and had such a hard time with this?