All Forum Posts by: Collin Hays

 Check with municipalities, counties, and HOAs to ensure you are in the clear.  No other way to do it. 

This is very cool. I like it! 

This isn’t/wasn’t a loophole - just tax policy. 

Likely scam, although guests are sometimes trying their hardest to book outside of VRBO. I've got no problem with them booking direct. All the same hamburger to me.

I am a big fan of Brightside.  

After the novelty of owning a vacation rental wears off, it is 
a matter of the value of your time and interests. If you truly enjoy property management, it might be for you, regardless of financial consideration.

If evaluating the question purely from a financial standpoint, it comes down to the value of your time. 

If you are a highly compensated professional or business owner, it might not make a lot of sense spending time managing a property.  

Most of our clients are professionals - physicians, attorneys, software engineers. Monetarily, their time is valuable.  Some have never even seen their property first hand.  It is an investment, not unlike stocks and bonds.  

I had an inquiry today from someone interested in buying a condominium in the Pigeon Forge area to rent out. I am going to put this as bluntly as possible:  Condominiums in the Smokies are not good investments. They are a commodity, and owners are competing directly against hotels in this space, so rents are ultra low. And because there are so many, demand is ultra low, except in the busiest of months.  

There is almost no scenario where a condo would ever positive cash flow while servicing debt, and very little positive cash flow with no debt.

If your budget only allows for a condo, find a better place to put your money to work.  

STRs are essentially small hotels, thus they are usually taxed similarly to what hotels and motels are. That's fair.

Agree with much of the above. Use something like Pricelabs, but don't let it run "autopilot". You need to do your own homework by manually checking comps on VRBO and Airbnb.