All Forum Posts by: Collin Hays

Are you going to be advertising on Airbnb and VRBO that you are a new owner and don’t know what you are doing?  If not, I guess I fail to see why the house wouldn’t continue to rent as well as it has.  

Cable costs you 1 night’s rent per month.  Will you lose at least 1 night’s rent each month with no cable?

Yep.  

I hate to use the term "bubble", but it seems the RE prices in the Gatlinburg market have gone parabolic.  It appears that the income yields still support the prices, but what is the saturation point?   For example, there is no way I would predict that 2022 will outperform 2021.  Kids will be back in school, workers will be back at the office, etc.  It won't be a year-round flex schedule.  I think that affects rents, and should push down corresponding ask and sale prices.

Another factor is new home starts in the area.  When does new construction catch up to demand?  

Just curious the thoughts out there.

If folk who practice dentistry are dentists, and folk who study science are scientists, doesn’t that mean all track stars are racists?

2 bedrooms plus loft - around 1250 square feet 

 Julie it’s on the south side.  I think I gave $230K for it and it yields $32-33K a year, so quite respectable.  It’s slightly more seasonal than the main drag.

I own properties in Gatlinburg, PF, Sevierville, Douglas Lake, and Cosby.  

Gatlinburg is the crown jewel, and brings the highest rents, but PF and Sevierville aren’t far behind any more.  Cosby is 25 miles from Gatlinburg, so maybe 20% lower rents overall.  But you don’t pay near as much in Cosby, either, so it’s all relative.

I would consider buying a property anywhere, where the price / projected yield ratio makes sense.

My management co is insured, as well as our employees.  We have a few housekeepers who are 1099 workers and they are supposed to insure themselves, though I doubt that is the case.  For most of our housekeeping, we utilize a housekeeping company, and they are insured.  

go with what works!

The owner knows that the STR arrangement isn't going to go over well, hence the original question of "how to tell the neighbors..."

When evaluating a property for STR potential, I think it is is critical to look beyond what is simply legal. That's just one of a number of boxes to check. Saying "well it's legal so everyone will just have to accept it" is inviting a lot of drama into your life.

There are plenty of ways to make money for far less headache.