All Forum Posts by: Collin Hays

I'm sure there are plenty of places where you can achieve a 20% annual return in the STR world. My world is the smoky mountains. I easily do that, but only because I accumulated properties from 2005-2013. For new buyers, I don't think a 20% annual return is achievable there, these days.

 I have cabins that are 30 minutes from Gatlinburg that are cash machines.   Bought two small cabins in Cosby back in 2013 for $270K that are going to do around $76K this year...

Gatlinburg is king.  Unlike Pigeon Forge, etc., Gatlinburg borders the Great Smoky Mountains National Park.  It has its own entrance to the National Park.  So Gatlinburg proper is the gold standard, but it is priced accordingly.  All of the others will say "but we are almost as good..."

I haven’t found any of these “tools” to be even partially accurate.  They are “toys”.  Things to play with when you’re bored at work.

I am going to take one of my cabins off market mid-January to do some rehab.  I would really like to hire a designer to handle it all.  I have worked with Lisa McCarter who did a fabulous job for me several years ago, but I am not sure she is still in the business.  Are there any other recommendations?

I got a hateful email from an attorney threatening to sue me because his client apparently attempted to move my slate pool table and it collapsed onto her foot.  Note to self:  Don't move pool tables.

Makes sense.  I didn't read the question that way.  In other words, did the pandemic create pent-up demand and a temporary market imbalance that is subject to correction/normalization?  The answer would be "yes, almost certainly." 

However, in the Great Smoky Mountains area, the trend has been trending upward for decades, and while a one or two-year extra bump will normalize, the trend upward will continue.

Gatlinburg is the Vail of the southeast, and the big money is jumping into the game.  Look for decent cabins to cost $1 million or more someday soon. 

I own a PM and we generally charge 25 percent.  That's a lot less than self-managers are paying, almost always.  :O

 Sounds good.  So what does the annual yield on a Vail condo or home look like if you scored an average deal?  In other words, if you bought a place for $2 million cash, after all expenses - taxes, insurance, repairs, utilities - how much $$ per year would that $ 2 million property net you?

Whether a property cash flows depends on a lot of factors.  Whether you are servicing a mortgage, etc.

I own 6 properties in eastern TN, with mortgages on all but two.  I have an annual positive cash flow of around $150K per year after debt service and all other expenses.  That does not include the tax deductions I take for depreciation.