In this PPhREI Network Roundup, we talk about Palm Springs STR regulations, buying a new build for STR, and real estate investing for the tax benefits.
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Carpe Diem MD
This post is about the wisdom of purchasing a “new build” short term rental, which is a building that was expressly built for the purpose of serving as a short term rental. I find myself rereading this post now as I think about using this plot of land next to our 7-unit in Indianapolis to build a container multifamily building to add to our short term rental portfolio.
He highlights factors such as financing, builder quality, timeline, and other aspects that can make or break the project.
Read the original post on the Carpe Diem MD blog: 5 things to consider when purchasing a Short-Term Rental new build
The Darwinian Doctor
This week, I wrote up what I consider to be one of the best introductions on the internet about the short term rental regulations in Palm Springs. It’s not meant to be comprehensive, because the regulations are very numerous, but it’ll give you an excellent picture of what it would take to own a vacation rental in the city.
I should have written this prior to opening up Lux Life Palm Springs, because it would honestly have saved me a ton of grief. I was just a little busy at the time, though, juggling the operations of the short term rental business with our move to Memphis. Hindsight is 20/20, as they say.
Read all about the regulations and my experience in the post: Palm Springs Short Term Rental Regulations: An Insider’s Guide
The Prudent Plastic Surgeon
In this post, Jordan Frey, MD, dissects a common reason why physicians and other high income professionals like to invest in real estate: it’s a great tax shelter. Although it’s far from the tax haven that it was in the 1980s, tax deductions and tax efficiency are some of the reasons why I decided to become a real estate investor.
But are tax benefits by themselves enough reason to justify becoming a real estate investor? I would argue the answer is NO, and I have a feeling that Dr. Frey agrees with me.
Read all about it at the Prudent Plastic Surgeon blog: Should Doctors Invest in Real Estate Just for the Taxes?
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