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Rookie Reply: Mortgage Write-Offs, Buying with an LLC, & Boozy Airbnb Gifts
Description
Your new Airbnb is set up and ready to go. You’re just finishing up the welcome gift and slipping in a bottle of wine as a pleasant surprise for your guest. Oops…you might have just put yourself in a BAD position. On this week’s Rookie Reply, Ashley and Tony are getting into the moral muddiness of including boozy gifts in your welcome package, how to account for your mortgage interest expense, and when you should (and shouldn’t) buy a property in an LLC.
You’ve got the real estate questions; Ashley and Tony have the answers. But we’re not just debating whether your guests should crack a couple cold ones on your dime. We’ll also get into how to find past purchase prices for ANY home, a property tax breakdown with some tips to save you money, and the difference between appraised and assessed value.
If you want Ashley and Tony to answer a real estate question, you can submit a question here, post in the Real Estate Rookie Facebook Group, or call us at the Rookie Request Line (1-888-5-ROOKIE).
In This Episode We Cover:
Real estate LLCs: when they’re worth it, when they’re not, and who should use them
Mortgage interest write-offs and whether you should count your biggest monthly payment as an expense
Welcome gifts and whether or not adding alcohol could cause you trouble
Where to find past purchase prices for ANY property in your area
How property taxes are determined and why you want your appraisals HIGH and your assessed values LOW
And So Much More!
Links from the Show
Ashley's BiggerPockets Profile
Real Estate Rookie Facebook Group
Submit Your Real Estate Rookie Question!
Calculate Your Interest Write-Off with The BiggerPockets Rental Property Calculator
Do Landlords Need an LLC for Rental Property?
Mortgage Interest Deductions 101: What You Should Know
Look Up Past Property Prices: Invelo, & <