All Forum Posts by: Avery Carl

The Florida panhandle as well as the Smoky Mountain market are 2 of the best vacation rental markets in the country. However, true vacation rental markets don’t usually have a lot of jobs and industrial growth, they are mostly tourism driven.

As many major metropolitan areas continue to impose anti-short term rental regulations, property values in profitable true vacation rental markets will continue to rise, as it would be detrimental to the economies in those areas to impose any anti-STR regulations, so STR investors can safely move their investment dollars there.

With that being said, it’s wisest to bet on cash-flow, and just look at appreciation as a bonus. Betting on appreciation is speculation, and you don’t want to build an entire business on speculation.

@Parker Borofsky can use short term rental income towards DTI.

I second what @Julie McCoy said. You'd have to get a commercial loan in order to finance it in an LLC. Definitely speak to your CPA and an attorney, but it's unlikely that you need to do an LLC for just one property.

Hey Reagen! I would definitely move the pool table upstairs and use that little game room as an extra bedroom.  A LOT of cabins have open loft bedroom/pool table area combos. A few of mine are configured that way.  I don't think the pool table being in the loft is going to bother anyone, and that extra bedroom will definitely make you more money!

I have a few off markets that might interest you

You need @Mike V. He is the Hawaii guru around here!

@Jill F. mortgaged and self-managed! 

Past history is most definitely not an indicator of future performance on vacation rentals. There are a lot of moving parts, many of which you just mentioned. Photos are a big piece, as well as management style. In a lot of cases, poor rental history is an indicator of poor management, not a bad property!

Mike! So glad the cabin we got you is getting booked! In this market, 1 night bookings are mostly at your discretion. You may need to allow them in January and February when it’s slower, but not so much in the high season, unless you just have a 1 night hole. For your sized property, we don’t see too many parties. 1 night bookings can be more high maintenance on the whole, but I wouldn’t worry about the trashing of your place!

We almost always buy "scratch and dents" for both our long term and short term rentals.  A lot of things get returned to Lowe's and Home Depot not because they are scratched or dented, but just because the previous buyer didn't measure properly and the appliances won't fit.