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The $80,000 STR Tax Hack & The Michael Jordan Gamble
Description
Steve shares his 1996 story of flying standby to Utah on a whim, scoring a $50 ticket to Michael Jordan's final shot as a Bull in Game 6, and partying with Bulls players afterward - all while everyone said it couldn't be done. The story ties into the hosts' philosophy: when you know what you want and keep asking, opportunities appear. They also discuss the $80,000 tax write-off from combining a cost segregation study with the short-term rental tax loophole, and why they're pivoting some Arkansas midterms to long-term rentals during the slow season.
The episode covers PadSplit tenant turnover, cash-out refinancing at 7.35% to buy ten properties instead of one, the power of house hacking for first-time buyers in a high-rate market, and why documenting the journey matters more than polished advice. They reflect on building skills that make you unafraid of starting over, the value of adversity, and why passive income beats trading time for money.
Work with us. Interested in professional management or consulting?
Myka — Sharebnb: www.sharebnb.com
Steve — Argest Rentals: www.ArgestRentals.com
Sign up for PadSplit with Steve's link and get a free 1-on-1 PadSplit strategy call with Stevie Stacks: padsplit.com/hosts
Myka's other podcast, Entrepremarriage — building wealth without losing the marriage: youtube.com/@Entrepremarriage
All our links: linktr.ee/liveletthrive
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