All Forum Posts by: Tim Schroeder

When I saw the title I was going to say "it doesn't matter, a bed is a bed and they won't know how small the room is until they are there". Then I saw "single bed". In my experience, heads in beds has a direct impact on revenue. So I personally would never buy a rental that could not sleep 2 people in each room. Since most properties can accept a 2-person bed, why limit your potential? I would pass.

I am interested in looking outside Pigeon Forge/Gatlinburg too. As prices continue to skyrocket buyers will look elsewhere. So, the big question is, "Where is the next Pigeon Forge going to be", in terms of STR success AND potential for price appreciation? When you mentioned Bryon City/Cherokee I went and did some poking around. On Realter.com there are ZERO 4BR+ for sale in Cherokee, and only 14 in Bryson City, most of those were 700k-1.5m. I found that surprising, and I'm not sure what to make of it.

I pay $230 for my 6BR's. I feel it's a bit high but they are very good and do tons of maintenance jobs at low cost. Like stopping in at Walmart to buy kitchen towels, etc. I hate that trivial stuff.

I used to have a 4BR and I paid $130 for cleanings

Didn't you have to buy the property (cash or down pmt plus costs) in the first place out of pocket? That's equivalent to the money invested in the mutual fund. Guests aren't paying for the investment, they're generating the income which would be equivalent to the interest and dividends on the mutual fund. I know we're mixing apples and oranges here, AND getting off topic, sorry...

With respect, I think 8-12% is a poor return considering the work involved in STRs. I can get 8% all day long in an index mutual fund, for zero work, low risk, and compounded returns over time. I would want to see 20-30% CoC ROI every year. My first STR actually does better than that. Second did about 20%. Just bought another and it should perform similarly.

The fact that it's readily available again after it's paid off is certainly handy but not really a factor IMHO

Pay off all the high-interest loans then get a new loan at a decent interest rate to fund your future investing. Run, don't walk, to pay off that 13%. The other one is borderline, I guess.

List it ASAP. Never turn down money. Just make sure it's ready on time. If pics aren't the best, what have you lost?" Also you could put a statement like "New flooring/kitchen/etc being installed on such-and-such date!"" in the listing or superimposed on the pics.

I hear you.