All Forum Posts by: Cheng Chu

How about showings for vacant properties if you are a DIY investors that live outside the state.  Do they connect you to a local realtor who can offer this service?  

@Jagga Magga

Occupancy was about 50% for my 2 bedroom cabin. Occupancy drops with 3+ bedrooms. The market is a bit saturated at the moment. You really need to make sure you have a unique property to stand out. I would be cautious about buying in this market.

I own a cabin in broken bow and I would say, generally speaking, it's a saturated market.  But what market isn't right?  If you were to buy an existing cabin, and If it's a good one, I think you can pay off the mortgage, but likley won't cash flow with the current interest rates.  To have a truly unique property, I think you will have to build a cabin from scratch and have some experience in cabins prior to starting.  I don't think you can just buy a cabin an expect to cash flow.  Now, if you were planning to use it as a vacation home for the family, then the math may work out.  

@John Carbone

Hard to imagine smokys not getting enough visitors. Maybe impending recession has something to do with it

I'm in the same boat.  New cabin listed a month ago.  Got all my bookings from airbnb and none from vrbo.  Not sure if it's worth listing on booking.com.

I have 2 good friends and we've always talked about buying a property together(STR in the smokeys). In terms of legal entity,

should we form an LLC first(3 member LLC) and then use the LLC to finance the deal which would make it a commercial loan. The

other option I was thinking is to buy the property in our individual names, then transfer the title to an LLC. The benefit of this

approach would be we be able to get a conventional loan(30 yr fixed) with more favorable terms.  I'm just wondering how other people 

are doing it.  Thx for the response.  

If I have an investment property titled in a LLC, is it difficult to refinance down the road when interest rates drop?

I understand conventional mortgages do not lend to LLC, but commercial mortgages have shorter fixed terms

with higher interest rates.  How do other investors deal with this issue?

@David New

I guess it would also depend on how much public access the beach has. Many beaches are private and so can be limiting to folks not living beachside.