All Forum Posts by: Zeona McIntyre

@Jin Zhang I don't do background checks on guests coming from Airbnb, but you could. You would just want to let them know that is something you need upfront. I would make them pay for it. 

@Mike Turano I have been on the Biggerpockets Real Estate podcast in episodes #229, #300, and #679 if you want to do your research. 

@Greg O'Brien I am happy to connect you with my CPA, but he said that if you file a partnership return both partners receive a K1 sharing income & deductions. 

@Corby Goade I started with arbitrage but quickly moved to owning properties (as soon as I could afford to) because I wanted to take part in the equity gains. From my experience, one can make more with arbitrage but it is risky. I also cohosted for many years and agree that that is an easier approach. I loved it because its no money down and you make money from the first booking, not having to worry about expenses to profit. 

Hi @Erik Belinfante I empathize with you, I swear the bookkeeping with STRs is never talked about, so much to keep up with. Automatic payments help a lot for all utilities and HOA fees. For our HOA fees, we have them come out of our banks bill pay, which is a free service where they mail checks monthly.

My most difficult part was keeping up with service providers and what we did was require that they bill us instead of us having to keep track of how many cleans, etc they did and then have to send it over. That helps. 

Last thing is maybe hiring a VA? That really helped me as I am not great at staying on top of paying invoices, so my assistant does that part.

Hey Tyler, I’m not a CPA but you would file a partnership return and I believe you would both be able to claim the large deductions through Cost Segregation. I have a wonderful CPA that I can connect you to. I imagine you can get this clarified in a free intro session. 

@Martha M. I have heard that if this initial MTR Summit is well received, he will host them often. Although he did say the next one would be in Denver. A little closer!

@Blair Carney this is a wonderful idea. Utilize your son as the house hacker to teach him about real estate investing (maybe even having him help with management), and get the low down payment and low interest rate. Yes MTRs can work in multi units, they just tend to be smaller (1-2 bed) units for nurses and digital nomads. 

Rayleigh is a big hit on the MTR scene. My friend owns Carolina Furnished Rentals and manages 60 MTRs and STRs there. 

@Anne Donohue if CDA votes on a moratorium as Nick mentioned, it could become a good opportunity to own right outside of the city limits. 

I also suggest looking into a 10% second home loan if you live more than 50 miles away from the subject property or if you can bring an out of the area partner on. 10% down improves your cash on cash return. 

@Ian Fortney Biggerpockets sells leases by state if you rent to guests over 30 days or off platform, for short stays I'd avoid it. Less barriers to getting bookings.