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billsfanmiamioh

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Everything posted by billsfanmiamioh

  1. I learned to drive a manual on a heavy duty truck (with non synchronized transmission) with no prior experience. Good times! Still have a class B license actually, and wouldn’t have any problems getting behind the wheel. Like riding a bike!
  2. Another thing that popped into my head is to become familiarized with tax implications. Personal use is restricted to 14 days per year in the eyes of the IRS. If you exceed that limit, the IRS considers the property a second home and you lose the ability to deduct many expenses. There is a work around where “maintenance days” do not count against the 14 days, but you better have some detailed documentation of the “work” each time you do that in case of an audit.
  3. We have a short term rental condo in a resort town in Montana. I can probably get deeper into it later or via PM but a few quick things off the top of my head. As with anything home related, there will always be expenses you didn’t think about. Especially with a short term rental. Stuff like rental permits, supplies not provided by mgmt company, utilities, HOA assessments, etc. Do A LOT of research on your target area. You still won’t be able to nail down an exact number on what you’ll pull in annually, but you can get a good idea of market conditions by looking at a number of “comparable” properties on Airbnb / vrbo, etc. Look at a lot of calendars to get an idea of how rates change for over the course of the year and what occupancy looks like. Similar to point above, do a lot of research about HOA rules, short term rental permitting, and any other local rules & regulations. Do a lot of research on your property management co. If you are absentee, this is obv the most important part of the equation outside of the property itself. Protect yourself. I formed an LLC to purchase our rental and it’s owned by the LLC with my wife and I as co owners (also had to register as a foreign LLC in Montana as I established the LLC in / we live in Ohio.) This took longer to set up (took IRS a good 2 months to get me an EIN) and is more costly but it provides us a layer of protection if a guest were to sue us for anything that happened there. As with above, pay up for good insurance. I went with a place that specializes in short term rental insurance. Many “traditional” coverages have gaps that exist due to nature of short term rental (even with appropriate riders). So many things that could bite you in the ass If you’re not careful. I think I’m order to really make bank on a short term rental, it really must be in the right spot (shocker). Don’t just think “hey it’s in myrtle beach, it’ll do great”. What about the specific spot would make it do great? What stands out against all the competition? (There’s a ton nowadays) We’ve been happy with our situation because we love the area so much and we personally benefit from getting to use it. Ask yourself what you’re trying to get out of it to help determine if it’s a “good” move or not. Is it more of a second home that you’ll be able to offset some costs of? Is it purely for profit with no real personal attachment to the area? Everyone’s situation is different and the determination of if it’s “successful” or not will vary accordingly.
  4. The answer to what, hosting football games? It’s been happening there for 50 years, seems to work.
  5. People are delusional if they think the Bills stadium being downtown and having a dome would somehow create a hotbed for conventions, big events, etc.
  6. Hopkins and a bunch of other major research institutions are doing studies on this. Pretty interesting stuff.
  7. I think they know that’s really all the region can realistically support.
  8. Another cool spot with a good beach and plane viewing is Karakter on Simpson bay beach. Been there a few times, It’s a bit more low key than Maho. https://karakterstmaarten.com Haven't been back to SXM since Irma, but used to be regular visitors.
  9. Delayed start to the drive up due to unexpected urgent care visit with kiddo in middle of the night (all good now). 2 hrs from the stadium now and nerves are amping up
  10. I’m in the queue but a bit ago when I looked it was getting sparse
  11. I was flying home and game normally would have been over about 15 min before departure. Instead there was 12 min left in the 4th quarter as we pushed back. It was agonizing
  12. I don’t like it, but with adding a 7th playoff team I think the #1 seed became disproportionately valuable. I prefer the old setup with 1 and 2 seeds getting a bye, but neutral site championship games would neutralize the sting of missing out on a 1 seed a bit. It’s an interesting idea to say the least.
  13. The THC-O is also synthetic. They extract CBD from legal hemp, then convert to delta 8 thc. Then they add an acetate group to the molecule using acetic anhydride. It’s a “Wild West” type product just like the illicit Cannabinoids (spice, K2, voodoo). I would steer clear or at least be very selective about where it’s coming from. I’d definitely look into the manufacturer. Does it pass the smell test? Is there a product label or any results of analytical testing? (Highly doubt it) Oh and not all synthetics are “bad”. There are FDA approved cannabinoid drug products that are totally synthetically derived.
  14. Ohio went live on Jan 1. Doing well so far. Not throwing around tons of cash or anything but it’s fun throwing random $5 bets on stuff here and there.
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