All Forum Posts by: Ron Singh
Ron Singh has started 57 posts and replied 239 times.
Post: Mariposa Short Term Rentals
- CA
- Posts 244
- Votes 47
Quote from @Cameron Masters:
Quote from @Ron Singh:
Quote from @Judy Wensloff:
Hello @Ron Singh,
I don't believe there are any new restrictions, and no holds on STR's in the area. The Southern entrance into Yosemite through Oakhurst is in Madera County, while the park itself, and the central entrance through Mariposa are in Mariposa County. So the two counties have different requirements. At this time, Mariposa is stricter with more inspections required. It's a complicated situation in Madera County right now and probably better suited to a phone conversation.
@Judy Wensloff Sounds good, sent connection request
Do you suggest Meriposa or Oakhurst ? based on local str/rental rules
goal is long term hold and use for str/personnel use - vacation
prefer turn key condition or light update needed
Hi Ron,
Mariposa county has a maximum occupancy of 10 guests per STR. So depending on the size of home you are purchasing, it can drastically alter your underwriting. We own in Madera County (20 minutes of Oakhurst) and have been under contract in Mariposa a month ago. Both have opportunity, but I would be selective with what you're looking for. Please reach out if you'd like to connect.
Thanks @Cameron Masters
which location is good for both str and ltr(in case needed to convert later) ,so easy to find good ltr tenants,
also for str how much do you charge as a management fee ? do you manage airbnb listing too as a part of pm ?
if you know any existing str for sale currently, could you share details ?
Post: Tax Advantages of Multifamily Real Estate
- CA
- Posts 244
- Votes 47
to clarify on the topic : "Tax Advantages of Multifamily Real Estate"
in terms of tax deduction, for w2 employee/investor, is the same for both below cases ? :
1. Buy multi-fm apartment complex(4 units or 20+ units doest it matter ?) and self manage / have pm on-site to manage,
but actively involve in decisions.
VS
2. Invest in bigger commercial projects, i.e 100+ units apartment complex in Development (whole project is being developed/managed by
different company)
Post: Mariposa Short Term Rentals
- CA
- Posts 244
- Votes 47
Quote from @Judy Wensloff:
Hello @Ron Singh,
I don't believe there are any new restrictions, and no holds on STR's in the area. The Southern entrance into Yosemite through Oakhurst is in Madera County, while the park itself, and the central entrance through Mariposa are in Mariposa County. So the two counties have different requirements. At this time, Mariposa is stricter with more inspections required. It's a complicated situation in Madera County right now and probably better suited to a phone conversation.
@Judy Wensloff Sounds good, sent connection request
Do you suggest Meriposa or Oakhurst ? based on local str/rental rules
goal is long term hold and use for str/personnel use - vacation
prefer turn key condition or light update needed
Post: Mariposa Short Term Rentals
- CA
- Posts 244
- Votes 47
Quote from @Judy Wensloff:
@Dawn LaMattina Asher Here you go:
https://www.mariposacounty.org...
Then click on:
It's not the clearest...feel free to call if you have questions!
Hi Judy,
are there restrictions/hold on new str permit now ?
or is it still possible to get new permit , or what other near by cities/county might be good for str ?
Post: Good Locations for STR's in California .
- CA
- Posts 244
- Votes 47
Quote from @Peter Mckernan:
Quote from @Ron Singh:
What are you looking to spend? There are a lot of markets that are super low and the returns are matching that, but some markets are getting good returns but need to put in a lot of money to get those returns.
dm sent
Post: Good Locations for STR's in California .
- CA
- Posts 244
- Votes 47
Quote from @Bradley Buxton:
Have to checked out the Reno / Tahoe Area? There are few STR regulations in the city and county wide. There are still opportunities for STR, MTR, and value add equity building. I'd be happy to go over the pros and cons of the Reno / Tahoe market.
Thanks
if you see anything available in Reno/tahoe area, let me know if numbers works
will be using mgmt company, heard upside poential is better in Reno for appreciation
Post: Good Locations for STR's in California .
- CA
- Posts 244
- Votes 47
@Gi'angelo Bautista @Brandon Carlson @Brandon Boyce @Bruce Woodruff
Any suggestions on how to find the str for sale in anywhere in CA ?
with long term goal and also if law changes, should be able to convert to ltr
Post: Airbnb - Active or Passive - Deductibility of Losses Schedule C
- CA
- Posts 244
- Votes 47
Quote from @Michael Plaks:
No, it is different in house-hacking. You cannot create loss in a house-hacking situation at all, with or without cost segregation, LTR or STR.
Thanks @Michael Plaks :
If brought condo for STR purpose, almost end of the year say in Nov, also purchased all furnitures etc to make it ready for STR.
what if it didn't get rented by end of the year, so :
Total rented days in year = 0
Toal personl days stay at property = 0
Does it still qualify for deductions(cost seggrigation, tax, closing cost etc for business use prep), similar to if it was rented (even if for couple days in a year) ?
Post: Airbnb - Active or Passive - Deductibility of Losses Schedule C
- CA
- Posts 244
- Votes 47
Tagging gurus: @Michael Plaks
Thanks , would it differ for renting full condo to renter VS part of the home (while owner still lives there)
How about if someone has a 2M home and rents 1 bedroom few days month.
would still qualify for deduction...
lets say 1 bedroom and shared space = 1/8th part of the home
rented 100 days total in a year
can cost segregarion still applies to 1/8th part of the home ?
Post: Airbnb - Active or Passive - Deductibility of Losses Schedule C
- CA
- Posts 244
- Votes 47
Quote from @Martin Nussbaum:
@John Morgan right? one would almost suspect intentionally so, to encourage business, lol. Perhaps its my fault for not simplifying the hypotheticals, and you tell me John if you fall into one of these.
1. John has a vacation home, uses vrbo or abnb, average guest occupancy seven days or less, and John materially participates in managing the property. John rents out the property for 40 days in 2020, and uses it personally 20 days. Can John deduct excess losses, ie depreciation, against his w2 income from a salaried position? Can he deduct the mortgage interest that is unallocated to the rental period, on his schedule A?
2. Same facts, except that John only has 3 days of personal use in the year. Can John deduct excess losses, ie depreciation, against his w2 income from a salaried position? Can John deduct the mortgage interest that is unallocated to the rental period, on his schedule A?
Now lets see if the experts post simple answers to these.
Tagging gurus: @Eamonn McElroy @Ashish Acharya @Jason Collins @Michael Plaks @Natalie Kolodij
@Michael Baum @Nancy Bachety @Arda Bircan @Sammy Habbaz @Chad McMahan
could you help with above two scenarios?
also, let’s say prop value/purchase cost is 500k brought in tax year 2023, can bonus depreciation be applied to take max tax deduction on year one ?
i.e 500k (400k building+100k land cost), with cost segregation average 400k X 20% = 80k
can 80k deduction be applied as depreciation, against his w2 income from a salaried position?