All Forum Posts by: Sam M.

So we sold the Beech Mountain place. We were offered more than we paid for it. Got to enjoy it for a month. Explored the area and before Biden potentially removes Section 1031, we bought a place in Banner Elk, NC to defer capital gains.

Loving Banner Elk, so far. Now need to restart thinking about making this a STR.

My $0.02

 If your refi rates are lower than your current rates, then do a cash out refi. You kill 2-birds.

Now with the 2017 tax changes, the equity portion spent on anything other than your primary home is not going to be deductible so you lose some tax benefit potentially. But getting a cash out at 2.5% are reinserting it for a 12% return is an arb I would take any day.

I don't understand their competitive advantage? 5 of us form this board could do the exact same thing on any property that we all like. Property management company can handle the operational aspect. Get an interior decorator to furnish and design. Same 12% of the cost that goes to Pacaso.

What am I missing?

Every so often, I see (on Zillow or Realtor.com) that the house is selling as a co-ownership model. Meaning that 1 or many people will end up owning the property (not sure under what legal structure ie. TIC, multi owner LLC etc).

Does anybody know if there is a way to ONLY search for properties looking for co-owners rather than having to browse hundreds of them to get to what I am looking for? 

Also, has anybody bought a home (or many homes) via this model?

Thanks in advance.

Thanks everybody for responding. Appears, Amazon.com for ease and convenience and Walmart for prices - seems to be good ways to go. Costco - is always a wild card as the products may or may not return, but good to keep an eye on it.

We bought the place in Beech Mountain, NC - nice area - but a little remote in terms of products to restock the place (we live in Charlotte so 2.5 hours drive). Right now Costco has some furniture on sale and they will deliver to my address so something to think about. Ikea will not deliver so that will be something I will have to deal with myself (as with estate sales and other used products). There is a Lowe's and Walmart nearby so will check with them next regarding furniture.

Would be nice if Walmart also had an Airbnb type of list and bundles ready to go.

Thanks again.

Hello everybody - happy to be a part of this great community.

So we have embarked on our first Short Term Rental journey. In the process of closing on a home in the mountains of western NC. 3 bedrooms, 2.5 baths, nice size place.

The place is brand new so will have to furnish it, equip the kitchen with supplies, linens, towels, blankets, and everything else needed to make the place inhabitable.

Questions is how did you guys start on Day 1? Did you go to Costco, Target etc. and started buying all the things you needed or is there a preferred website (Alibaba?) that you frequented to load up. And finally, is there a budget rule that should be followed while furnishing the place?

Thanks in advance.