All Forum Posts by: Benjamin Carver

My Emerald Coast folks... Sites like Realtor.com don't show zoning or say whether STR is cool or not, most of the time. I accessed the GIS for PCB, but there's got to be a better way to search for STR in PBC than manually locating each prospect in GIS to see zoning. Any ideas? Thanks!

 Hey John, where would one begin to look to buy a glamping business like that? Any ideas?

So I have recently been exploring the area of Gatlinburg and surrounding towns for a str cabin. Obviously, prices have risen an astonishing amount, and that puts investors like me in a tricky spot. I want to get in on str and I love this market, but at the same time, I don't love the idea of putting down such a large down deposit, even at 10%, and having a $3,000 monthly mortgage payment to worry about. You go down to the 1bed1baths and even then prices don't drop enough to justify the drop in ROI. I wonder how other people are handling these struggles?

Anyways, I recently found an $85,000 cabin in Cosby, TN (30 minutes from Gatlinburg), that I think might make a great 1b1ba rental. With some TLC it would be a cute 600+ sq ft studio on a half-acre lot. I'm thinking I could get it all in for $30,000 after rehab and pull $100 a night on it. My monthly PIMI would be $422 and my potential ROI would be 36%. Any local investors know if these numbers make any sense? Thanks for reading!

 Hey, Steve thanks for the response. I wasn't able to find the discussion you are referencing, but if you come across it again please sent it my way! I have been eyeing Grand lake as a good spot to target. Originally, my idea was to target folks who came to the mountains from the city but weren't necessarily there to ski at the big ski towns. Kinda fill that gap, within a certain radius of the city. But I think there is also plenty of value in situating my str within a certain radius of ski slopes so I can catch the outliers from ski towns while serving national park vistors too.

@Barry Ruby Good point. I've been trying to run the numbers for each scenario but finding reasonable numbers has been a little difficult. I'm working on piecing it together right now. I've looked mainly west of Denver, around Bailey or Idaho Springs. But haven't done too much research on location yet.

@Bruce Woodruff My googling told me it cannot be placed on a slab foundation "because the home needs to have a way to fasten to the foundation." 

Hi everyone! I had the idea recently of building a small modular cabin of modern design to use as a str in the colorado mountains. I've done my research on modular homes and now know that they appraise and appreciate just like normal homes because the only difference is they are built indoors to save costs and be quicker. My struggle has been researching what it would take to get the home grounded. It needs a basement or crawlspace foundation to secure since it is permanent. I'm wondering if it is more affordable to tear down a dilapidated mountain home and recycle its foundation and utilities, rather than buy a plot of land and develop it. I can't find very great resources on this topic, and I know it may be partially determined by region. Any ideas? And thanks!

@Chris Mason Well, I am buying a wholesale property with a private loan and then wanting to BRRRR it. Wanted to know if I could BRRRR into an FHA Loan as to get as much capital back as possible. But I see why it's wonky.

@Nick Belsky To answer your question, I am mainly working through a wholesaler, and targeting distressed owners with cosmetic to advanced cosmetics rehabs. Specifically, I'm in the lower fort worth area, around Burleson, Crowley, Arlington, and surrounding towns. 3b2ba purchase for under $200,000 ARV $225,000-$275,000. I also only consider houses newer than 1960.

@Michael Dumler thank you!!! That was very helpful!