New Short Term Rental Purchase: Now what?

Bill and Kenny emphasize the importance of having a game plan when purchasing properties and qualifying them for material participation. They discuss the need to focus on value additions and timely refreshes to maintain property appeal. The conversation includes tax strategies, particularly around cost segregation and the potential benefits of expensing renovations in the year of purchase. The hosts provide examples from their experiences, such as managing operations during off-seasons and effectively scheduling and budgeting for property upgrades. They stress the importance of execution and planning in achieving successful short-term rental investments. The episode concludes with advice on maximizing property profitability and leveraging tax codes, along with a reminder to subscribe for more valuable insights.

https://www.marketmystr.com/

00:00 Introduction: The Challenges Facing Short-Term Rentals

00:11 Meet the Experts: Bill Faieh and Kenny Bedwell

00:28 MarketmySTR: The Ultimate Marketing Platform

01:26 Welcome Back to STRonomics

01:51 Post-Costing Season: What's Next?

02:46 Steps to Success: Setting Up Your Property

05:08 Understanding Cost Segregation and Material Participation

06:42 Tax Strategies and Renovation Tips

13:51 The Importance of Refreshing Your Property

18:06 Conclusion: Long-Term Planning and Tax Strategies

We handle the day-to-day tasks of your short-term rental, giving you the freedom to grow your business and focus on the things that matter most. In the dynamic landscape of short-term rentals, success lies in the details. At STR Super VAs, we bring expertise to every facet of your business, ensuring those details are meticulously managed. Click here to learn more about how you can integrate VAs into your business! https://www.strvas.com/

Watch this podcast each Thursday on our YouTube Channel: https://www.youtube.com/channel/UCnheh3vx0hT5Y7uHWhBs8kA

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