All Forum Posts by: Viviana Nicolosi

Thanks, all! How are people handling using virtual assistants? Again, it just seems that, to qualify for the 100 hours of material participation, you need to do everything on your own. Does anyone have any experience with using a VA and still qualifying for the 100 hours of material participation? TY!

Thank you for the replies! I find that I spend at least 1-2 hours per day 4-6 times per week managing this place. From aligning contractors to ordering materials to handling issues that have arisen, I am incredibly involved in this STR-- it has not been passive for us whatsoever. I have certainly put in more than 100 hours over this past year. So, how do I show that the others involved are doing less than I am? Would we both have to provide "timesheets"? Also, it sounds like, in the end, the only way to really, truly qualify is to self-manage-- Period. Thoughts?

Hi all! I'll try to keep this short. We have had an STR for just under one year, but we have not qualified (per our accountant) for the STR loophole so we have not cost-seg'd it. I keep hearing how people are cost segregating, but I have pushed my accountant numerous times on this and he just saying that if we did the cost seg, all of that depreciation would just go into a reserve that would then be applied when we sell the home. His stance is that there would be no point as any depreciation would just be carried forward to future years. I think I have figured out why we do not qualify for the STR loophole and why my accountant keeps saying we would not get any money back if we front-end depreciated the home: I have a property management company in place. Now, that is why I am here on BP to ask you all the following: I am getting rid of my current PM at the end of May (in just a few weeks) and I will be hosting the home with a co-host who will act as my new "property manager". Since I will now be the host on Airbnb, does this count as materially participating and can I finally take the STR loophole? Has anyone else done this where they were the host with a co-host who oversaw the property, but they were still able to cost-seg and take the loophole? What am I missing here?? Thank you!

Hey, Jeremy! I would love to hear more. I am still hoping to share a VA, or even a team, so as to cut down on the costs (although I know the fees are already very reasonable by our standards), but as I wait for replies, I would be happy to hear what your company offers. Let me know how we connect. TY!

Good morning! I started my STR last year in Sevierville and thought it would just be passive income as we had hired a pm. Long story short, we have gone through 2 pms and I think I am ready to just self-manage. I have been hearing more about using a virtual assistant (I work FT so I will need support) and wanted to reach out in BP to other investors to see if any of you would want to share a VA? I was thinking if 3 of us shared one, it would cut down costs and provide each of us that additional support we may need to juggle all of our tasks. I was also curious to see if people have been using VAs and how things have been going. Any and all advice is welcome on self-managing-- I have the majority of this squared away (my team is pretty much in place, I am just worried about how to make myself available for issues that arise and how to best optimize my listing.) Thank you!