New to STR Investing - Smokey Mountains and Colorado

[Brandon M.]

Hello Everyone,

New to STR and seem to have been spending nearly every night looking for possible STR properties in the Smokey Mountains (Pidgeon Forge/Gatlinburg) and Colorado (Vail/Dillon/Grand Lake) and analyzing comps using AirDNA. I seemed to have entered the "analysis paralysis" zone and can't seem to get passed it.

We continue to build capital to commit towards a down payment and have reached out to a couple of lenders to secure a 10% DP vacation home loan.

Anyone else face this? How do you get past it? I feel like once I make the first purchase we’ll get more and more comfortable.

Any guidance or advice would be very appreciated.

Brandon

[John Underwood]

Putting in a spreadsheet and let the number do the talking and not your emotions. 

Don't buy something that won't make money either.