All Forum Posts by: Ryan Thomas

I will be there

Unfortunately my wife and I are planning to divorce the beginning of next year.

Based on the current market we will make about 100k in gains and will have only lived there for 1 year so will be paying short term capital gain tax.

I am the breadwinner and will have a much higher tax rate than her when we file separately next year. I am planning to tell her she has to agree to pay me the difference in the tax rates. Is this something people typically do and if so how do they actually enforce it?

Hello,

I built a new house earlier in the year and just received the final tax assessment. Its about half of what everyone else around me is assessed at (my home is similar to everyone else's). The question I have

1. When the town figures this out can they every back charge me for their error? (i,e, they figure it out 5 years from now when they reassess again, can they charge me for the previous 5 years for the more accurate amount?

My tenant called me today to let me know her neighbor shot a shotgun through the wall into the bathroom (this is a condo. I haven't had a chance to go by yet but it seems like the only damage is to the walls, but at the same time if my tenant had been sitting on the toilet, she would have most likely been killed. From what I understand, the next door neighbor keeps a loaded shotgun and a 16 year old was visiting nextdoor and accidentally shot it in the middle of the night (most likely a bs story).  Ive also recent learned there are 7 people living there and they are "sketchy" according to my tenant.

My tenant doesn't want to press charges. Does anyone have advice what I should do? 

How to approach the owner next door about evicting these tenants?

Does the damage go through the next door neighbors insurance?

Is there any advantage to me pressing charges? Disadvantages would be wasting my time in court, etc.)

I am heading out on a 4 day trip to 3 different cities to look at investment options. What type of documenatation do I need to prove this for write off purposes? Do I need to meet with someone In every city?

Thank you Lucas! From a self managing perspective do you have someone who is your eyes and ears on the ground. Sort of like a property manager but you only pay on a per use basis?

I am looking to buy a duplex as a vacation rental that has a door between the units. Each unit is a 1 bedroom. Is it possible to list this as different listing on airbnb and link the accounts so if someone rents it as a 2 bedroom both 1 bedroom listings are shown as booked for that day and if someone rents one of the 1 bedrooms the 2 bedroom listing shows booked.

Thank you all. Appreciate the insight!

I am doing due diligence on a piece on land on a flood plain. The land will require a survey that costs $750 to understand the minimum build elevation to be out of the flood plain, the seller has not had this done. Is this something the seller should be expected to pay for?

I currently use airdna to estimate revenue on potential short term rental properties. Obviously this data is based on the current economic conditions.

Does anyone have a rough ball park proxy to discount the ADR and Occupancy for an economic downturn. I am using 50% reduction in the current ADR and Occupancy as a worst case scenario but hoping for advice from someone who owned vacation rentals during hard times.  For reference I am looking in the smokey mountains- Gatlinberg, Pigeon Forge, Byrson City, Boone type areas.