All Forum Posts by: Alexander Achim

Quote from @Collin Hays:

So what did the OP decide?

 Going to list it in the next week. Have the professional photography coming in a few days.  Gonna test the water around 1.9 but simultaneously lift on the OTAs as well just in case 

Quote from @Timothy Howdeshell:

@Alexander Achim listing and selling here seems to be the right play. After property management and maintenance, I don't think you'll have that much cash flow left over each month. Let's say optimistically you get 5K per month in profit. First off. That's not a fantastic return on equity. Secondly, it's going to take you 20 years to make the same profit as the 1 million you can make now.

Lastly, your state of goal is to simplify your life. Having a million in the bank and no short-term rental sounds a lot more simple than dealing with landlording.

Best of luck!

 Thank you sir ! Seems like trying to offload it makes the most sense when you put it like that 

Quote from @Brooklyn McCarty:

All depends on what you want to get out of it & how long you plan to hold the property in the long run anyways. What’s your end game?

End game for me really was to have some “passive” income . Though with these STR it’s not quite passive . My biggest concern is an unpredictable downturn and even though I’ve got reserves setup to ride it out for a while , if things don’t turn around after a while the mortgage is quite alot to bear in my own.

lot of good insight here though . 

Quote from @Ryan Moyer:

How good of a view are we talking about?

There's a couple of 4br pool cabins with 4/10 views (but very close to town) listed for around $1M right now.  And a 6br pool cabin listed for $1.1M.

I’m near west gate . 5 min to downtown gatlinburg and like 10 to Dollywood . These aren’t pro photos yet and I’m  not done staging 

Quote from @Kyle Smith:

I have a 3 bedroom pool cabin and I can tell you a cabin that size will easily do $200k gross/year.  I wouldn’t sell.  The view is key to maximizing that return, but a cabin that size with those amenities will kill it, recession or not IMO.   I’m about to build another one. Maybe I’m a crazy person.  LOL 

It takes a little bit of crazy to do anything up here 😅 

Quote from @John Carbone:

Quote from @Alexander Achim:

Hello BP, I’ve got a question I’m hoping some seasoned investors can help or give their insight . I just finished a pool cabin 4 bedroom 6 bathrooms . 4200 sq feet in gatlinburg with theatre , sauna , steam shower arcade indoor heated pool. Appraisal. Location is great , view is good and overall I like the cabin but the situation is :

950k mortgage at 8% . So mortgage sits around 7k without taxes .Just got our appraisal and looking at comps realistically 800-900 equity currently . We did the build ourselves so we saved alot of money but I don’t think I’d sell and build again just do to the headache of workers in the area . The lender thinks we’d get around 15-18k a month gross but I’d be hopeful to get closer to 12k average given current market conditions . 

Just had our first baby and looking to simplify my life a little so taking the equity and doing something back in Georgia is tempting . Thank you all for any insight .

I would try to sell asap  

That’s what I’m leaning towards but it’s helpful to have experienced voices chime in. Thank you 

Quote from @Sarah Kensinger:

Do accordingly to your goals...want to spend more time with your new baby and not worry about a STR out of state, sell the property. Want some cashflow as your family grows, then keep it.

originally our principal was supposed to be closer to 5-600k and loan was interest only so of course the rates kept climbing and it made the cash flow less attractive 

Hello BP, I’ve got a question I’m hoping some seasoned investors can help or give their insight . I just finished a pool cabin 4 bedroom 6 bathrooms . 4200 sq feet in gatlinburg with theatre , sauna , steam shower arcade indoor heated pool. Appraisal. Location is great , view is good and overall I like the cabin but the situation is :

950k mortgage at 8% . So mortgage sits around 7k without taxes .Just got our appraisal and looking at comps realistically 800-900 equity currently . We did the build ourselves so we saved alot of money but I don’t think I’d sell and build again just do to the headache of workers in the area . The lender thinks we’d get around 15-18k a month gross but I’d be hopeful to get closer to 12k average given current market conditions . 

Just had our first baby and looking to simplify my life a little so taking the equity and doing something back in Georgia is tempting . Thank you all for any insight .