All Forum Posts by: Brian Malavsky

 Would love to see the slide deck!

Does anyone help other MTR hosts find tenants and if so, what do you typically charge for referral fees?

Hi,

I was curious what everyone's policy is on allowing MTR tenants to receive mail throughout their stay and what are the associated risks involved with allowing them to get mail. Thanks!

Sweet, thanks @Allen Duan!

 Hi Bonnie,

Thanks for the insight! I got another question for you. In regards to listing 30-day min stays on Airbnb; Do you know if Airbnb still automatically takes out local lodging taxes? In my area it's 10% for stays less than 30 days and Airbnb automatically takes those out and remits them to the city. In my scenario my stays will be longer than 30 days and am wondering if Airbnb will take that into consideration before taking those taxes out of each booking.

Thank you so much for the information! I didn't make the connection that FF stopped at lead gen and booking is done outside of the platform. I just got off of a call with Hostaway and definitely had a lot of questions answered. They, among others, allow you to create a direct booking website that can then integrate with the other STR platforms. Huge benefit IMO.

Thanks! 

Shopping around for a Property Management Software that will integrate Furnished Finder and AirBNB. Other desired features are; Automated messaging/guest communication, syncing calendars, digital guestbooks, unified inbox, pricing tool, team collaboration, and direct booking integration.

I realize there might not be a "Goldilocks" solution but I am curious what everyone is using, what they like, and more importantly don't like about their PMS.

Cheers!

Brian

There are a couple great podcast episodes on asset protection, the main show ep. 595, and BP Rookie ep. 105 & 106, that give a ton of great information on what LLC's can and can't do for you.

For me, I personally use an umbrella policy for my protection but did setup an LLC immediately more so for financing later on down the road. I believe you need to show consistent income for two years before you can get financing through the business. I am working towards investing full-time and leaving my W-2 behind. So, I wanted to start the 2yr clock as soon as possible. I also keep my personal funds and business funds completely seperate. The corporate veil of an LLC can get pierced very easily if funds aren't managed correctly. It may seem complicated but it really isn't if you create a business bank account and credit card. You always can add a cash infusion into your business and repay yourself of that loan. I've been told that when you start pulling out business income (money exceeding the "personal loan" you gave to your business) for personal use is when things get dicey.

I am by no means an expert, but more so relaying advice that I have recieved. Hope this helps @Charles Lambert

Cheers! 

Hey Tyler, I similarly have the same question. I can relay to you what I have been told.. There might be issues with your unit only being rented as a STR for a portion of the year. I interpreted that as the percentage of year it's a STR is the same percentage that you can write off your W2 income (if you materially participate in the mgmt of course). I'm actively looking for a tax strategist to get more detailed information on this but this what I got from users on here.

Is your home in an HOA? I know houses on golf courses often are a part of HOA's and those HOA's tend to take issue with STR. A MTR strategy might work best in your case for maximizing returns and balancing the amount of management required while skirting around HOA STR reg's.

Hope this helps!

Cheers!
 

@Michael Plaks

Thank you for this information. This was exactly my concern about using the STR loophole more than halfway through the year. I'll give your other post a read now.

Thanks!