tag:blogger.com,1999:blog-980150319004551086.post3259267922084438663..comments2023-07-20T04:17:55.515-04:00Comments on Shampoo and Booze | A Podcast About Making A Living on Airbnb: Shampoo & Booze 10: We Bought Another Airbnb Rental!Unknownnoreply@blogger.comBlogger80125tag:blogger.com,1999:blog-980150319004551086.post-90725448010860000882016-01-23T12:39:40.879-05:002016-01-23T12:39:40.879-05:00Only the stairs. We can use our neighbors back dri...Only the stairs. We can use our neighbors back driveway if necessary for supplies, but renters will need to walk up the stairs. Jay Dedmanhttps://www.blogger.com/profile/06780377790850198302noreply@blogger.comtag:blogger.com,1999:blog-980150319004551086.post-17608852740407813922016-01-23T12:32:56.991-05:002016-01-23T12:32:56.991-05:00My question is, Is there a driveway in the back or...My question is, Is there a driveway in the back or do you have to use the stairs to get in? madison 55https://www.blogger.com/profile/12432736002682829674noreply@blogger.comtag:blogger.com,1999:blog-980150319004551086.post-30978069502001155112016-01-17T22:44:10.324-05:002016-01-17T22:44:10.324-05:00thanks! we are excited too.thanks! we are excited too.ryannehttps://www.blogger.com/profile/15219516172926340550noreply@blogger.comtag:blogger.com,1999:blog-980150319004551086.post-67419267805797245622016-01-17T18:28:44.035-05:002016-01-17T18:28:44.035-05:00OMG THIS IS SO FREAKIN COOL! I am so excited!!OMG THIS IS SO FREAKIN COOL! I am so excited!!missbhavenshttps://www.blogger.com/profile/09993878948547565140noreply@blogger.comtag:blogger.com,1999:blog-980150319004551086.post-87338212502356840222015-12-30T09:58:38.946-05:002015-12-30T09:58:38.946-05:00Not yet, but give us the pitch.
--What's the ...Not yet, but give us the pitch. <br />--What's the argument to put our properties under an LLC? What scenarios would it protect us from? We have renter's insurance. <br />--How would you apply for an LLC? How much would it cost us a year? <br />--How would it affect doing our income taxes?<br /><br />We like to be smart, but we also like to keep things simple. There has to be good reasons to make things more complicated. Jay Dedmanhttps://www.blogger.com/profile/06780377790850198302noreply@blogger.comtag:blogger.com,1999:blog-980150319004551086.post-67236481668103460372015-12-29T20:34:38.614-05:002015-12-29T20:34:38.614-05:00Now that you guys are multi-commercial property ow...Now that you guys are multi-commercial property owners, have you considered putting one or both if your properties into an LLC to protect your personal assets, ie your residence? Just curious!cmhttps://www.blogger.com/profile/07874749259966389847noreply@blogger.comtag:blogger.com,1999:blog-980150319004551086.post-15047624787963529832015-12-16T13:03:56.870-05:002015-12-16T13:03:56.870-05:00Yes indeed - and a great motivator to keep listing...Yes indeed - and a great motivator to keep listing on eBay on the side. Everything is going towards that dream right now! Anonymoushttps://www.blogger.com/profile/17505032049851950689noreply@blogger.comtag:blogger.com,1999:blog-980150319004551086.post-48038282152347899752015-12-16T12:58:14.643-05:002015-12-16T12:58:14.643-05:00If you afford the flexibility, then that's a g...If you afford the flexibility, then that's a great dream. Jay Dedmanhttps://www.blogger.com/profile/06780377790850198302noreply@blogger.comtag:blogger.com,1999:blog-980150319004551086.post-64045923450136117862015-12-16T12:53:55.936-05:002015-12-16T12:53:55.936-05:00Yes, we are talking to our accountant about these ...Yes, we are talking to our accountant about these very distinctions and how to go about it. We would like to do a combined thing where we use it but also rent it out when we are not. We are also planning to rent out our own house during a large part of the Summer and stay at this other place because where we happen to live is walking distance to the ocean and beaches that tourists frequent in the Summer. We rented out our house (fully furnished) last year when we spent a year in Norway, and it was a great experience. I like the idea of flexible living and not be too attached to any place, but make any place feel like home. Anonymoushttps://www.blogger.com/profile/17505032049851950689noreply@blogger.comtag:blogger.com,1999:blog-980150319004551086.post-78335280640591224232015-12-16T12:27:40.528-05:002015-12-16T12:27:40.528-05:00And is this specifically a rental property for you...And is this specifically a rental property for you? or your new vacation home which will be rented when not in use?<br /><br />I just ask because the IRS sees any property that use personally for "x" days as a second home vs rental business. You'll need to fact check me of course and check the number of days, but the distinction makes a difference when you write off expenses on this new home. Jay Dedmanhttps://www.blogger.com/profile/06780377790850198302noreply@blogger.comtag:blogger.com,1999:blog-980150319004551086.post-3145096133910035642015-12-16T12:16:24.299-05:002015-12-16T12:16:24.299-05:00National Forest across the road - sweet deal you g...National Forest across the road - sweet deal you got for sure! The place we are looking at have some nice trails on the property itself (and nice open spaces too), but the area around there has lots of snowmobile trails (that actually go all the way to Canada!) that the current owners use for their own horseback riding excursions. There is also a lake in the town that you can also ride on trails around. And the view is likely not to change much because the closest mountain you can see is protected government land - kind of like in your case. We walked the property with the owners (14 acres), and it is just lovely. It is kind of similar to where you live - dirt cheap to actually live and not much going on in the town itself, but tourists (also from Mass and Canada etc.) come to the nearby areas for recreation as it is a big lake and hiking area in Maine. We are getting all our papers ready right now. The one surprising thing we have found is that several insurers will not insure log homes. Strange to me seeing how they have such quality construction - at least the ones we have looked at. Anyway, I am rambling on now - just so excited :-)Anonymoushttps://www.blogger.com/profile/17505032049851950689noreply@blogger.comtag:blogger.com,1999:blog-980150319004551086.post-11169899619268488952015-12-16T11:49:03.290-05:002015-12-16T11:49:03.290-05:00There's National Forest across the road, a pub...There's National Forest across the road, a public Lake around the corner, and a River Outfitters a block a way where you can rent tubes/canoes to float the river. <br /><br />What kind of place are you considering buying? Would you own all the land that had trails, or would that be public land? Jay Dedmanhttps://www.blogger.com/profile/06780377790850198302noreply@blogger.comtag:blogger.com,1999:blog-980150319004551086.post-32057863100889067472015-12-16T08:36:36.407-05:002015-12-16T08:36:36.407-05:00Just lovely, and those awesome windows and that vi...Just lovely, and those awesome windows and that view!!! Does it connect into a trail network of any kind? Looks like a great place to go hiking/riding/x-country skiing in Winter. The place we are in love with currently (and are preparing an offer for) also has a spectacular view. They are also set up for horses with trails. We are thinking that offering a place where people can rent AND bring their horse might be a good niche in the airbnb market. It's hard to travel when you have horses - so we are hoping people would want to come AND bring their horse along. Will keep you updated. Great podcast - can't wait for the next one. Cheers, MMAnonymoushttps://www.blogger.com/profile/17505032049851950689noreply@blogger.comtag:blogger.com,1999:blog-980150319004551086.post-49228671833910783742015-12-14T11:25:39.728-05:002015-12-14T11:25:39.728-05:00OMG that is so cute!! Gratz on buying your 2nd goo...OMG that is so cute!! Gratz on buying your 2nd good luck with it and hope it does Great!Anonymoushttps://www.blogger.com/profile/01302523712715422955noreply@blogger.comtag:blogger.com,1999:blog-980150319004551086.post-26503110192209160622015-12-10T21:26:27.849-05:002015-12-10T21:26:27.849-05:00Here's an idea to fill dead space where no one...Here's an idea to fill dead space where no one's renting. Why not raffle off a free night to your listeners or give away a free night to a blogger who will write about their stay. Free press. Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-980150319004551086.post-41555108883875435952015-12-10T18:57:22.725-05:002015-12-10T18:57:22.725-05:00you just summed up why the subprime mortgage meltd...you just summed up why the subprime mortgage meltdown happened.ryannehttps://www.blogger.com/profile/15219516172926340550noreply@blogger.comtag:blogger.com,1999:blog-980150319004551086.post-89056337610043615902015-12-10T12:58:12.368-05:002015-12-10T12:58:12.368-05:00I find home loans funny. There was a time where I ...I find home loans funny. There was a time where I couldn't get a Walmart credit card but I could get a loan for over 200,000 dollars from the bank. And that's what I did. Although in hindsight we settled too quickly on this house and we've already outgrown it. We bought it cheap so we could pay it off quick then they did their magic and turned it into a 30yr loan. So we're stuck here now.Annenoreply@blogger.comtag:blogger.com,1999:blog-980150319004551086.post-83547691366822677372015-12-10T09:02:41.975-05:002015-12-10T09:02:41.975-05:00Yep, eBay is our main source of income. When we do...Yep, eBay is our main source of income. When we do our taxes, that's where the money is for us. The other work we do + rental income is bonus. <br /><br />When we bought our first home in 2009, our income was a mix between eBay + occasional freelance work. As you mentioned, the bank didn't like that we had inconsistent income. We'd only been selling on eBay for a year so couldn't prove it was regular money. We ended up buying that first house in cash because a bank wouldn't give us a loan. It was a $70k foreclosure. We cashed out our 401k and IRA's to purchase it.<br /><br />Once we had our first home renovated, we could go to the bank with an asset since it was paid off. By this time (2011), we could show three years of our eBay income. Our bank now sees that we have a history of running a business. Usually three years of eBay income will convince them you're solid.<br /><br />In our case, it might also help because we deal with our tiny, local bank with three branches. They know us. They know our area. Relationships matter. This is different than dealing with Citibank through a mortgage website where its all just crunching numbers. <br /><br />And lastly, it feels like buying your first home is always the most painful. No one trusts you. You have no history. Unless you have all cash, it's a leap of faith. <br /><br />Jay Dedmanhttps://www.blogger.com/profile/06780377790850198302noreply@blogger.comtag:blogger.com,1999:blog-980150319004551086.post-81167751256117009992015-12-10T09:02:33.864-05:002015-12-10T09:02:33.864-05:00yes, since stuff will be selling in the usual mann...yes, since stuff will be selling in the usual manner (mostly ebay), that will be listed on our weekly numbers. if we sell something through craigslist, we'll add that over there too.ryannehttps://www.blogger.com/profile/15219516172926340550noreply@blogger.comtag:blogger.com,1999:blog-980150319004551086.post-91241094838147282412015-12-10T08:55:47.324-05:002015-12-10T08:55:47.324-05:00I'd like to see you keep a record of how much ...I'd like to see you keep a record of how much money you get from the items sold. - Maybe it could be a line in your weekly numbers on the other blog.<br /><br />CrystalAnonymousnoreply@blogger.comtag:blogger.com,1999:blog-980150319004551086.post-70921789390864003752015-12-10T08:36:02.336-05:002015-12-10T08:36:02.336-05:00I'd like to know how difficult the mortgage lo...I'd like to know how difficult the mortgage loan process is when your primary income is selling on eBAy. Also, is it difficult to acquire homeowner's insurance since you will not be occupying the home during renovation? I also wondered if your primary source of income is actually your eBay income, or your video editing periodic work. I'm asking because another well-known eBay seller, on her blog, talks about the difficulty of obtaining a mortgage loan when eBay is your primary income. Love the house, even as is! Congrats.Megan Wernerhttps://www.blogger.com/profile/02306946335032156849noreply@blogger.comtag:blogger.com,1999:blog-980150319004551086.post-67897759803953556392015-12-09T21:05:18.243-05:002015-12-09T21:05:18.243-05:00Totally happy for you guys and totally jealous lol...Totally happy for you guys and totally jealous lol. When you said you were taking a trip to Ireland next year my mouth fell open. I have always wanted to go there esp after taking an ancestory DNA test a few years back and finding out I am way more Irish than I thought. I do think you'll eventually slow down on EBay. There's just not enough time to do it all. Or at least hire help. It may be one of those cases where time and hassle override the money. Just think of it as a return on EBay. Less stress to just take a return and lose a little money than fight a customer. But congrats guys. I'm excited to hear more! I think if you went into the rental talk a little on your other site it would bring more ppl over to hear the rest. Just my opinion. Good luck!Annenoreply@blogger.comtag:blogger.com,1999:blog-980150319004551086.post-54794791352906372942015-12-09T19:18:40.192-05:002015-12-09T19:18:40.192-05:00I meant llcI meant llcAnonymoushttps://www.blogger.com/profile/12395179081320333813noreply@blogger.comtag:blogger.com,1999:blog-980150319004551086.post-22796832890401008462015-12-09T11:36:43.750-05:002015-12-09T11:36:43.750-05:00I'm in southern Indiana - near the Ohio river....I'm in southern Indiana - near the Ohio river. It's a LCOL area, with nice people and we have pretty scenery too. But, the views from my house are nothing compared to yours.<br /><br />CrystalAnonymousnoreply@blogger.comtag:blogger.com,1999:blog-980150319004551086.post-24517665983507350072015-12-09T11:26:44.271-05:002015-12-09T11:26:44.271-05:00This house is absolutely gorgeous. It will be wond...This house is absolutely gorgeous. It will be wonderful when you renovate it. Btw, you probably need to talk to your CPA but the financial gurus always say once you get houses to rent, to set up a separate lcc for each one. Just a thought.Anonymoushttps://www.blogger.com/profile/12395179081320333813noreply@blogger.com