All Forum Posts by: Tony Phiri

@Jonathan Greene - Thanks! I chatted with him. He should be coming to the next meetup. Also, the STR looppole probably makes sense for him given his situation. How are things on your neck of the woods?

Looking forward to the meetup.

0 Votes

Worcester, Massachusetts

Quote from @Jonathan Greene:

This doesn't answer the question, but if you just moved to Worcester, you should connect with @Andrew Freed because he has a lot of meetups going in your area and is an active investor.

On the cleaning company, it would be a great ancillary after you've been in the area a while and met other STR owners. I would focus it on STR and MTR clients because you know how quick and perfect the turnover has to be.

Thank you so much @Jonathan Greene. I already connected with @ Andrew Freed. He 'respondent promptly and gave me some good tips on Tax saving. I look forward to attending his meetup.

0 Votes

Worcester, Massachusetts

Hi Bigger Pockets Community,

My name is Tony and I'm excited to be here and connect with fellow real estate investors! My family and I recently relocated to Worcester, MA, and we’re currently operating one of our residential properties as a short-term rental (STR).

I’m seeking some guidance and insight regarding tax implications and optimization strategies for STRs. Here’s a quick overview of my situation:

I personally manage cleaning, minor repairs guest-related damages, land scaping.
I partner with a management company that handles bookings and reimburses damages with proof and receipts.
I want to maximize tax deductions and explore the possibility of reporting this income as active income (vs. passive) to access potential tax breaks.
I’m considering opening a cleaning or property management LLC to support my STR business. Is this a good strategy tax-wise?
Lastly, can I claim depreciation on the property without forming an LLC?

We’re also in the early stages of house hacking our current residential home and would love advice or experiences from others who’ve done something similar. Looking forward to learning from this amazing community and really appreciate any insights you can offer!

Best,
Tony.

1 Vote

Worcester, Massachusetts

Hello, Brandon. My family just moved to Worcester and we are currently doing STR with our residential property while looking to house hack our other house. I would love to connect and get some exposure in the Worcester area.

0 Votes

Worcester, Massachusetts

Quote from @Jonathan Klemm:

That's definitely a prime-time Chicago neighborhood @Tony Phiri! You shouldn't have a hard time selling it.

If you need any realtor referrals I know several that can assist and know that area well.

Referrals would be great . Thanks a lot.

1 Vote

Worcester, Massachusetts

Quote from @Brian J Allen:

@Tony Phiri Glad to help in Worcester as well. Keep in mind as licensed agents we cannot push you to areas that are "better" but we can help analyze the investments.

That would be great Thanks.

0 Votes

Worcester, Massachusetts

Quote from @Andrew Freed:

@Tony Phiri - Are you searching in Worcester? My team and I specialize in multifamilies in the Worcester area. I also own a good amount of units in Worcester. Happy to jump on a call and see if we can help.
that would be great . Thanks

0 Votes

Worcester, Massachusetts

Quote from @Jonathan Klemm:

Hi there @Tony Phiri - Just curious where is the house in Chicago and what are the details?

It’s in the North side of the City, California and Devon.

1 Vote

Worcester, Massachusetts

My wife and I are moving close to our parents. We are going to sell our house in Chicago, then use the money for a down payment on a multi-family unit idea 3units . Any advice about what areas , or anyone I could be in touch with to guide us through since this will be our first real estate investment?

2 Votes

Worcester, Massachusetts

Did you end up getting the property, you guys were looking for?

0 Votes

All Forum Posts by: Tony Phiri

Tony Phiri has started 2 posts and replied 10 times.

Post: STR Tax Strategy + House Hacking Guidance

Post: STR Tax Strategy + House Hacking Guidance

Post: STR Tax Strategy + House Hacking Guidance

Post: Excited to Connect – Investor & Investor-Friendly Agent in Central MA

Post: Looking for Multi-Family in Worcester, need advice on which area to invest in?

Post: Looking for Multi-Family in Worcester, need advice on which area to invest in?

Post: Looking for Multi-Family in Worcester, need advice on which area to invest in?

Post: Looking for Multi-Family in Worcester, need advice on which area to invest in?

Post: Looking for Multi-Family in Worcester, need advice on which area to invest in?

Post: Out of state investor seeking agent for buy and hold properties