All Forum Posts by: Yonah Weiss

 Thanks so much Gerald!

@Teonia Riley several people have mentioned AirDNA which is a great resource to find your best nightly rate. I would also check out @Luke Carl's Enemy Method. Just google it, it's brilliant.

Jay, many of the added accoutrements that go along with STRs are considered personal property and can be eligible for bonus depreciation, which make them much more desirable for cost seg.

A dock is considered 'land improvements' and depreciates on a 15 year schedule, which you can also bonus depreciate.

 Thanks for the mention brother!

 Jeff you can take depreciation (and cost seg) on a house-hack for the part of the property that is a rental. So for example if you have a duplex with two equal sized units that you purchased $500k, your depreciation basis will just be half of that, $250k.

Excellent response @Jack Martin!

@Margaret Curtis I will add that many times the POHs (park owned homes) can even be considered 'personal property', if it is still on it's axles and wheels (even if it's covered by a skirt and for all intents and purposes never being moved). Personal property depreciates on a 5 year schedule, which with all of the land improvements can make MHPs almost entirely accelerated depreciation.

If the average stay is less than 7 days, which is usually the case with STRs, the depreciation is on a 39 year schedule like commercial properties, as opposed to the 27.5 year schedule it would be as a residential rental. @Brandon Hall has some great podcast episodes on this subject.

Real Estate Connections Virtual Meetup

Come to learn about Real Estate Investing from the best in the industry!

We meet every Wed. 7:00pm EST - A guest speaker followed by networking in zoom breakout rooms.

Tonight's Guest Speaker - Sam Newell

Topic - Asset Management & Raising Money

Sam is a Real Estate Investor, Top Producing Broker, Fly Fisherman, Family man. Sam's passion lies in income-producing real estate. While attending Brigham Young University studying Construction Management Sam successfully started his own real estate flipping and long term holding company. As an investor and licensed realtor, Sam has bought and sold and participated in over 100MM+ in real estate transactions over the past 9 years. From flipping small homes to developing $35mm fourplex complexes, to buying large apartment communities, Sam has vast experience and expertise that has not only benefitted his family and partners but many loyal investor clients as well. Personally, Sam has never made less than a 20% ROI on real estate investments, this is possible through careful planning, research, and execution (and admittedly a little luck and timing). Integrity and expertise are most important to Sam when working with clients and partnerships.

On a personal note, Sam loves the outdoors and the beauty Utah has to offer. Being a dad to Heidi and Liam is the highlight of his life. Fly fishing and spending time outdoors and teaching his kids to enjoy this passion is his “WHY”, income-producing real estate is what gets Sam out of bed in the morning in order to produce the lifestyle his family deserves. He currently resides in Lehi, Utah (The Silicon Slopes).

Save this link as a recurring meeting on your calendar. https://bit.ly/REC-meetup

Even though this is my 3rd time seeing this @Justin Goodin (Linkedin & FB), it's still so awesome! Very excited for you. Keep up the work. The takeaway for me is, there are no shortcuts to finding deals. Use all means available and be consistent.

Sounds like an interesting and challenging property. How is this different than Section 8?