Real Estate Tax "Loopholes" You Can Use On ANY Mid-Term Rental

[@amandahancpa]

It was fun to do this interview =)

[@JesseVasquezAirVenture]

Big thanks to you and Matt for hanging w us! Appreciate you two! 🙏🏽

[@emilylicari1255]

Say I have 5 arbitrage units, in five different buildings and the leases all list my LLC. Am I filing a schedule E for the business or am I filing separate for each "property". If schedule E what is the property selection? Self rental? These are midterm, so STR #3 doesn't seem to apply. Or I've seen people saying this should be a schedule c instead. I have not seen anyone create video content around this yet, and it would be super helpful!

[@amandahancpa]

If you own 100% of the LLC, then each property is listed as a separate property on your schedule E.

[@TJ-th9hw]

Amazing episode with Amanda and Matt. Great Tax tips! Thanks Jesse for having them on the show.

[@JesseVasquezAirVenture]

Hey TJ thanks for tuning in!

[@dotpenji]

You both are incredibly knowledgeable about real estate taxes, and your insights have been eye-opening. What are the key tax strategies they should prioritize to maximize their benefits and reduce their tax liability?

[@UserPat-g4z]

Jesse, this episode is truly outstanding! A big thank you! 🙌

[@Lynaka1]

Great information as always!!!

[@JesseVasquezAirVenture]

Thanks again!

[@jessealfonzo6032]

Fantastic episode Jesse!! THANK YOU 🙌

[@JesseVasquezAirVenture]

Thanks Jess!

[@jaydajourney2884]

Thank you Jesse, this is such a great episode so far!!!!😊

[@JesseVasquezAirVenture]

Hey Jayda! Thanks for watching!

[@kellybailey5827]

Great topic Jesse!

[@JesseVasquezAirVenture]

Hey Kelly thank you 🙏🏽

[@crystaluncharted8366]

definitely would love the help. This Was and is right on time

[@JesseVasquezAirVenture]

Hey crystal! Timing worked out perfectly!

[@crystaluncharted8366]

I do not own I sublease out my apartments. I have 3 and they are all on furnish finder. So I would love to get some insight on the tax side of this. I really need to learn so much about taxes. And yes I still work a w2 job as well. Also have a first that has been empty since July 28th.

[@djcdubb]

Thank you for this great content Jesse! Have you done a video yet on forming LLC vs. S-Corp for a MTR? Pros and cons for tax purposes? I didn't see anything in your library. We are in a fantastic location for MTRs and about to list for the first time....just trying to get liability protection and have everything set up properly first and there are so many competing recommendations online.

[@amandahancpa]

My two cents: Do not put the rental property itself into an S Corporation...that could be very detrimental in terms of tax benefits. But maybe Jesse and I should do a video on this question!

[@JesseVasquezAirVenture]

I love it, and answer straight from the source! We totally should Amanda!

[@user-fy4lv6mf5n]

Step one is identifying the entity type of the business. Everything changes in taxes based on that. Are you a business like budget suites for instance? They buy, rent and maintain property but they are not a real estate professional nor a real estate investor, they are a business. Are you a single member LLC? Are the properties in your personal name with no entity? Are you filing as an S-Cor? Are you a C-Corp? Big differences between the types of entities and filings. I never heard that mentioned here.

[@JesseVasquezAirVenture]

Will check in w Amanda on this

[@AtHomeWithNissy]

Great episode!

[@JesseVasquezAirVenture]

Hey 👋🏽 thank you 🙌🏽

[@AtHomeWithNissy]

@@JesseVasquezAirVenture I like that ask the questions about taxes and arbitrage & how to specifically keep a record of time spent in working in the medium term rental space ( for tax deduction purposes). My husband and I are learning alot. We are considering the medium term rental option on one of our duplex units and we’re concerned how it would affect the long term tenant. Also, currently in the process of setting up the Airbnb arbitrage option on my mom’s place. Had some concerns about that…We have a good amount of travel nurses in our city. Thank you for these videos

[@connorcarlin6056]

Your bringing a tonne of value brother

[@JesseVasquezAirVenture]

Thx my man!

[@massyb]

This is great information.

[@JesseVasquezAirVenture]

Hey thanks for checking it out!

[@Finecwithcthat]

This is excellent info. Thanks for sharing!!! I am looking to refinance debt I have from starting my rentals business. I have about 37k I’d like to refinance with the lowest interest rate possible. My credit score was originally 770 before I started the business, and after the investments I’ve made on 2 houses, it is down to 670. Do you have any recommendations on where I can find a willing lender who understands real estate investment? (like was mentioned in this video)

[@JesseVasquezAirVenture]

I work with a ton of folks, id suggest to connect with local smaller banks, they typically have better options for you. build an actual relationship with a banker this has helped me a ton over the years

[@dzrkdw]

If you listen to any RE podcast or video Keystone constantly are the ones for taxes. This year I am going to leave my current CPA and go with them. To answer your question on a recommendation I would HIGHLY recommend Caeli Ridge with Ridge Lending. She is just as amazing as Amanda and Matt. She provides tons of free content and all of my RE loans have been with Ridge. I am telling you if you call Ridge you will have a person answer probably on the second ring. From there you will be treated like gold. Schedule an appt with Caeli (pronounced Chay - Lee) and your welcome. She is amazing!!!!

[@illmatic33]

Why tf is a $3000 booking triggering 600 in taxes for a 30 night booking? When i sign a lease for how many months, im not paying 20 percent 🤬🤬🤬🤬🤬

[@annakupferman1724]

Hi Jesse, thank you the wonderful content! Do you require your medium term renters to complete a renters app beforehand (background check, income verification, eviction history, etc)? I have my first MTR lead but they are giving me trouble about the app. But they want to rent for 6 months. Also, do you require first and last months rent? Do you allow them to pay with credit card (we could give them the option on RentRedi, but I’m worried they might max out their card and then not pay)

[@JesseVasquezAirVenture]

Hey there! I 100% have them fill out every single thing just as if they were a traditional, long-term rental tenant. I do require first month rent last months rent I do not, but I will ask for a holding deposit which is very similar to last months rent. It typically is about 50%. Keep in mind a lot of the folks that I work with are usually agencies they pay and do not have any problems whatsoever with the amounts that I bring up. If you’re working with an individual, it’s a totally different conversation. That being said, I still will take credit cards ( many travel, workers and business folks like to put their stay on credit cards for points, etc.) Just make sure that you put in your lease that they’re able to do this take credit cards, etc., you do wanna make sure that you at least have in your lease terms that if the credit card is denied or if they file a claim against that credit card that they are still liable for the rent regardless. Make sure that they signed in agreement stating that that is the case.

[@annakupferman1724]

@@JesseVasquezAirVenture Jesse, thank you so much for this awesome advice and insight. I appreciate it so much! Hopefully about to sign my first ever MTR client! Can’t wait for your next video.

[@JesseVasquezAirVenture]

@@annakupferman1724 so excited for you Anna! 🙌🏽 first of many!🚀🚀

[@Jepi369]

Can the mid term rental be in another country?

[@JesseVasquezAirVenture]

I’ve seen folks do this yes!