All Forum Posts by: Drew Nashmy

I received a lump sum of money this year from a small business I sold. I was told by my CPA that I should purchase an STR and do a cost segregation to offset the taxes I will pay on this money I received. I need to have it done by the end of the year and I am starting to stress! I am thinking about purchasing a property that is currently already an STR and am looking at Pinetop/Lakeside. My budget is around 650k. Is there anyone that is already in this market or that can provide any advice to my situation? Are there any realtors that might be willing to chat to discuss this area? We really like the idea of being in a mountain/cabin area, but I worry about being able to find vendors (cleaning, repairs, etc.) as there doesn't seem to be too many STR's in this area to compare to. Am I barking up the wrong tree? I live in CA. Thank you for any advice!

Those types of properties can definitely draw extra attention and help with marketing, but they can also attract more “lookers” than actual paying guests. As long as the numbers work on their own, the TV show angle is more of a bonus than a guarantee.

I had a cabin that Dolly Parton's brother finished out the loft on. It burned to the ground. So much for that marketing opportunity.

I assume this is about the Wheeler house from Stranger Things that went on the market a few weeks ago.

If you want a comp, somone already STR-ified the Byars house from Stranger Things.

It's booked out solid at really high rates from Nov - Jan with the final season of Stranger Things airing.  If you can close on the Wheeler one and get it all themed out in the next month or so (a tall task) you can probably do ~$90k revenue in 3 months.

Byars house rates are pretty low after that so if you miss out on that, probably not worth it.

I've seen stories on this topic before - I think it can basically be used a marketing gimmick.  I would not pay more than market for it and would not boost revenue estimates, but be happy if in reality it got one.  I think it would depend on what the show was and who the actors were.  People still have to be personally looking and/or interested in going to that location, and mostly people searching for accommodations in that area may or may not be fans, and even if they are fans may not be interested in paying a premium.  If you do end up acquiring it I would see if there is a fan club somewhere and let them about it lol.