Watch This Before Buying A Vacation Property

This video discusses the things you need to take into account before you buy a vacation property. Many people in the housing market have a real estate mindset, and may even follow Bigger Pockets. But if you have a vacation rental, do direct bookings, or are into vrbo investing, there are some vacation rental marketing tips that you’ll need to know.
You’ll definitely want to have an LLC for personal liability protection. On top of this, you’ll want to make sure that you have good property management in place.
There are also a few tax benefits associated with vacation rentals. As a deduction from gross total income, you may be able to deduct your mortgage payments, but a lot of this depends on the mortgage rates and the interest rates.
You may also be able to use the augusta rule. But what is the augusta rule? This video gives you the augusta rule explained.
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DISCLAIMER: The contents of this video are NOT LEGAL ADVICE and do not apply to your specific circumstances. This information is provided for general informational and educational purposes only. Viewing this video DOES NOT CREATE AN ATTORNEY-CLIENT RELATIONSHIP. We highly encourage you to seek professional legal advice before acting or relying on any information contained in this video.

[@jimunland5258]

We just bought a 2 bdr/2ba condo in Kona HI to use as a STR (and for our use). We put the property into the family revocable trust. Can I form a LLC arount that property while still leaving it in the family trust? Thanks.

[@ONEugene83]

Does having a vacation property in LLC still apply to vacation property in a foreign country, such as Mexico? What if the title is held in a bank trust/fideicomiso? Is there inherit liability protection due to the bank trust?