All Forum Posts by: Andre M.
Andre M. has started 11 posts and replied 55 times.
Post: Smart lock recommendations for STR
- New Orleans, LA
- Posts 56
- Votes 25
Also, this might be a stupid question... But if you have a wifi enabled lock, and the wifi is off (internet problem, power is out, etc) does the lock still work? Be gentle if the question is stupid please :)
Post: Second Home Mortgage Restrictions -STR
- New Orleans, LA
- Posts 56
- Votes 25
I was honest, so I had to go through a few. They all interpret the rules differently. Some said I couldn’t rent at all if I wanted it as a second home. Some said I had to live half the year to classify as a second home. Finally, one said I had to occupy for at least one day and then could rent BUT I would have to self manage (my plan anyway). So I went with the last one.
Post: Recommendations on Books for AirBnB
- New Orleans, LA
- Posts 56
- Votes 25
Originally posted by @Michael Vazquez:
Hello all. My partners and I are in contract with a 2 family property in Newburgh, NY. Our plan is to convert the property into a 3 family. I am considering using one of the units for AirBnB.
Can anyone recommend some books or other resources to help me learn as much as I can about AirBnB?
scroll down. good luck with your new adventure
Post: Buying a lot in Gatlinburg...concerns? and how much does it cost
- New Orleans, LA
- Posts 56
- Votes 25
Originally posted by @Matt Mertz:
We went this route because we also had difficulty buying an existing property due to high demand. We are currently building a house in Gatlinburg on a nice view lot. The sq ft cost for house construction is currently sitting around $207 (not including cost of the lot).
If you want to build a larger house, you may have the option of expanding the existing septic if there's enough room on the lot. We did that to build a 4 bedroom (the prior house was 3 bedroom, which burned down). Our builder added another tank and field.
Keep in mind that there are pros and cons to a custom build. Architects can be pretty expensive but you have the freedom to custom design something that can stand out.
I think once I get a place, I can get a better lay of the land and maybe purchase a lot and go your route in the future. Thanks!
Post: Buying a lot in Gatlinburg...concerns? and how much does it cost
- New Orleans, LA
- Posts 56
- Votes 25
Everyone, thanks again for the input! It seems like way too big a pain to get done...I'm not working with my realtor Gennifer on a new construction! cross your fingers for me haha
Post: Buying a lot in Gatlinburg...concerns? and how much does it cost
- New Orleans, LA
- Posts 56
- Votes 25
Originally posted by @Kyle Smith:
@Andre M.
Also, please note you can not put two or more houses on one lot anywhere in Sevierville county that I know of. Somebody correct me if I’m wrong.
Thanks Kyle...I was more interested in buying two lots and putting one larger house. But I spoke to Gennifer, my realtor, and I have essentially decided this likely wont work out for me.
Post: Buying a lot in Gatlinburg...concerns? and how much does it cost
- New Orleans, LA
- Posts 56
- Votes 25
Hello
I think I want to buy a lot in Gatlinburg and considering building in the next 2 years. How expensive is this? It is really tough trying to buy a finished product from where I am, because good properties fly off the market before I can get there (between work and travel nuances).
Also, a second question... if one were to purchase two lots, each approved for 2 bedroom septic capacity...can you combine that into one building with 4 bedroom capacity?
Thanks!
Post: How much do you expect out of your snowbirds on the Gulf Coast?
- New Orleans, LA
- Posts 56
- Votes 25
Originally posted by @Luke Carl:
@Andre M.
Yea it’s like being a teacher. My beach properties and my cabins of the same size gross about the same annual but on the beach I get an nice breather.
Although this time of year (late February) I’m ready for that breather to be over. In 4 months I’ll be ready for it to come back lol.
Lol thanks brother for your input
Post: How much do you expect out of your snowbirds on the Gulf Coast?
- New Orleans, LA
- Posts 56
- Votes 25
Originally posted by @Luke Carl:
@Andre M. I own a SFH on the gulf. I don't get snow birds because my house is too big. Seems to me you should have no problem covering expenses in winter. If the numbers you're hearing were from a property manager and you're planning to do it yourself you will do much better than what you heard it was doing in the past :)
thanks Luke. I had already factored in self management...
I'm just wondering how people do just continuing STR over the winter months. Do you expect a loss? But is that expected loss just covered by summer boom months?
Post: How much do you expect out of your snowbirds on the Gulf Coast?
- New Orleans, LA
- Posts 56
- Votes 25
We just bought a condo on the Gulf Coast, and the old management company has said the same snowbirds come to our unit every year from December 15- March 31.
Their rent covers about 2/3 of our monthly expenses. Obviously, their presence would take away Christmas bookings and March bookings. Still, to me (with limited knowledge), this seems like a great deal and I should at least cultivate this relationship going forward (while self managing). what do y’all think?