All Forum Posts by: Ryan Moyer

Two brand new accounts that don't even have a profile picture reviving a zombie thread to shill an expensive course with grandiose, positive only comments, while even using some of the same language, is extremely suspicious, fwiw.  And within a few minutes of each other to boot.

Amex Blue Business Preferred is 2 MR points per dollar spent on everything, and Amex MR points are among the most valuable out there for redemption, so you're really getting 3-4% back on every purchase.

I was using that but recently switched to a cash back debit card so the money leaves my bank account more in line with the time I spend it, rather than a month later, which makes bookkeeping much easier.

 The annoying thing is that it still requires them to enter their info even if they don't check the opt-in box.  I've brought this up to StayFi several times.  If the guest unchecks the marketing box it should no longer require them to enter their info.  There's no point in forcing them to enter it at that point, since you're not saving it anyway.  That just serves to create distrust as the guest then thinks you are saving their info even after they've elected to not let you, otherwise why would you still be forcing them to enter it?

I've gotten one bad review over this and had another guest that thankfully still left a good review, but let me know in private comments that one of the guests in their party was extremely angry over it.

I've brought this up to StayFi several times and they just brushed it off.  Definitely an annoying part of my interaction with StayFi so far.

 They're just asking.  They don't force it in any way.  The guest requests it, Airbnb says "hey here's the circumstances, would you like to do it?" and you can say no.

Most of us here count revenue on a cash basis.  That is, whatever month you actually receive it is the month/year that it counts towards.

Like others have said this gets asked all the time.  Actually just 2 posts down from this one is almost this same thread.  And then 3 posts down the same thread again!  So lots of good thoughts on this subject out there already.

https://www.biggerpockets.com/...

https://www.biggerpockets.com/...

I'm not into the monthly rentals thing (MTR or whatever) but from what I've heard of people in that market the "traveling nurse" thing is even more oversaturated than STR, as tons of people bought monthly rental places just throwing around the term "traveling nurse" without really looking into that closely, and even as traveling nurses become less common. That's just hearsay on my part though.

I remember these being the most often recommended, go-to STR mattresses long before Robuilt's channel became popular. So it's not like he's going out on a limb here.

We have a bunch and they've worked well for us.  I can count the number of complaints we've had about them on one hand and we've had FAR more people comment that they loved them and asked where they could buy one.

The vast majority of guests don't mention them either way, which is all we were looking for.

I think mattresses are pretty subjective.  We've slept on them at our STRs and I honestly don't remember them much, which again is all we're looking for.  But we've never stayed at our place longer than a week consecutively.

It's unclear from the question whether the home you already own has a vacation home loan as well.

IE if home A is an investment property, then you can buy home B as a vacation home.

If home A is a vacation home, then you cannot buy home B as a vacation home.

If home A is a vacation home and you're desperate to buy home B as a vacation home, I would think you could refinance home A into a different loan product, and then the vacation home loan would be eligible for that area again.  But if you've got a good rate on home A already you may not want to re-finance it at current rates.

If you have an android phone I believe you can look at all your travel for the year, by date, with google maps.  I can't remember if you have to opt into it or not.

I believe that both the lenders and the IRS have rules regarding 14 days, but in opposite directions.

Lender wants you to use the property 14 days OR MORE for it to qualify as a vacation home.

IRS wants you to use property for 14 days OR LESS for it to qualify as an investment rather than a residence so you can still deduct expenses.

So technically, in order to satisfy both the lender and the IRS when buying a property via a vacation home loan and using it primarily as an STR you would need to visit EXACTLY 14 days. If you visit fewer than that you violate the lender guidelines. If you visit more than that you violate the IRS guidelines.

In practice, neither really follows up on either of those, especially the lender.  The lender is already qualifying you based on whether you can afford the property without any rental income from the property considered anyway, so it doesn't really change their risk profile much whether you're renting it out or not when not using it, and how often that is.