I just might reach out to these gals because I would love to hear the tax implications for this. The STR loophole applies to rentals 7 days or less so I assume they are meeting REPS status in order to take advantage of tax benefits.
Hey! I am not a CPA, but I can definitely connect you to one. I am a realtor so it is easier for me to achieve the Real Estate Professional status but I know many people who are just investors self-managing that reach it as well. It is my understanding that you can still use cost segregation on these like one would on a short-term rental. Still an active business.
With such a back to back - how do you avoid issues with tenants damaging properties? I tend to find longer term tenants cause damage that take a week, to 2 weeks to resolve.
Hi Michael, great question! I find that the MTR tenants treat the properties really well compared to my LTR tenants. Plus, they do not stay in the unit long enough to cause issues. If there are any issues, I send my handyman over there during the turnover.
I find that damage comes from moving furniture -- wall scuffs and holes (which is not an issue with MTRs) and I have tenant-proof flooring, LVP and no carpet. Like Sarah said, I have my handyman come in after the cleaner if shes finds something needing repair.
10:39 Use VA Virtual Assistant
11:39 Furnished Finder
13:43
20:15 Owned Specified
20:27
Real Estate Rookie is my favorite podcast! I am a seasoned investor but I always learn something. Keep up the good work.
What a great podcast you wake up to!
Thanks Taylor! What did you like about it?
Bring Jesse Vasquez on to talk about this!
He has a great TH-cam channel talking all about MTR 🖤
He’s the goat for MTR 🔥🔥🔥
I couldn't agree more, Lattice! Jesse is a wealth of knowledge.
We have him collaborating with us on a bonus chapter for our book. It's going to be great!
Hi ladies ! Awesome wisdom!
How do you get your engineers/construction worker clients ?
How do you book these together in same unit? What about own home?
How do u calculated additional persons, pets?
Thank you so much! This very helpful.
I have a quad in Seattle … been thinking about this for a while.
Awesome podcast one day I’ll be on here
Heck ya! You can do it!
I just might reach out to these gals because I would love to hear the tax implications for this. The STR loophole applies to rentals 7 days or less so I assume they are meeting REPS status in order to take advantage of tax benefits.
Hey! I am not a CPA, but I can definitely connect you to one. I am a realtor so it is easier for me to achieve the Real Estate Professional status but I know many people who are just investors self-managing that reach it as well. It is my understanding that you can still use cost segregation on these like one would on a short-term rental. Still an active business.
How do ones MTR work with loans?
With such a back to back - how do you avoid issues with tenants damaging properties? I tend to find longer term tenants cause damage that take a week, to 2 weeks to resolve.
Hi Michael, great question! I find that the MTR tenants treat the properties really well compared to my LTR tenants. Plus, they do not stay in the unit long enough to cause issues. If there are any issues, I send my handyman over there during the turnover.
I find that damage comes from moving furniture -- wall scuffs and holes (which is not an issue with MTRs) and I have tenant-proof flooring, LVP and no carpet. Like Sarah said, I have my handyman come in after the cleaner if shes finds something needing repair.