The $80,000 STR Tax Hack & The Michael Jordan Gamble

Merry Christmas! Live Let Thrive has a new episode for you. Myka and Steve are back, diving into high-level real estate plays and sharing legendary stories about taking bold risks and betting on yourself. Steve gets real about the daily grind of managing a six-bedroom Pad Split. He shares stories from the front lines, including dealing with a "gossip queen" tenant and finding creative ways to keep the water bill from exploding when a tenant tries to thaw hamburger meat under a running faucet. He also takes a trip down memory lane to recount his legendary gamble: flying standby to Salt Lake City without a ticket, a plan, or even a place to sleep, just to catch Michael Jordan’s "Last Dance" Bulls championship with nothing but a cardboard sign and a dream. On the money side, Myka is dropping gems on how he’s leveraging a Cost Segregation Study and the Short-Term Rental (STR) tax loophole to potentially bag an $80,000 write-off this year. The guys discuss their "passive-passive" model of using massive tax returns to fund their next property acquisition and why they’re pivoting some mid-term rentals back to long-term and Section 8 housing to crush it in a hardening market. Whether it’s debating a $7,600 World Cup ticket gamble versus a 5-day Disney cruise or avoiding the "Shiny Object Syndrome" that burns so many rookies, this episode proves that if you can live with the worst-case scenario, you can always pull the trigger. LLT info: Hit us up! www.LiveLetThrive.com LiveLetThrive@gmail.com @LiveLetThrive on the socials! Management Companies: ArgestRentals.com Sharebnb.com Looking for a great Arbitrage? Click here! ⁠https://zfrmz.com/zIRCwmIDcwNcZ5LXSiJ4⁠ or visit Lo-Casa.com and tell them Live Let Thrive sent you! Click our Link Tree for Podcast News! ⁠https://linktr.ee/liveletthrive⁠ #airbnb #airbnbhost #shorttermrentals #BRRRR #realestate #turo #homeaway #VRBO #corporatehousing #shareeconomy #podcasts #podcast #liveletthrive #realestateinvesting #airbnbsuperhost #airbnbpodcast #sharebnb #liveletthrivepodcast #biggerpockets #shorttermrentals #directbookings #directbooking #bookdirect