All Forum Posts by: Dustin Turner

@Avery Carl I do agree that if the numbers work, then it can still be a good investment. Which is why I continue to watch the market. It's just hard to pull the trigger on investment properties that get bid up with multiple offers and are already listed at top-of-the-market prices. 

The market saturation isn't with cabins, it's over saturated with investors. The prices have skyrocketed. Check out this MLS history of one cabin that just hit the market:

The former owner tried to sell for years (2012-2017) without any luck. They finally dumped the property at a steep discount. The buyer, in just a few short years, has re-listed the property at a huge markup. No upgrades or improvements. Just riding the wave of a hot market. And I really can't blame him. 

I'd love to buy something in the Smokies. I continue to watch the inventory almost daily. But I can't help but feel like the I missed the boat on this market. Anyone else feel this way? 

Hey Ryan, I think your fund has offered on one of my listings recently. We should connect. I may have other properties you'd be interested in. 

Hey Matt, I can help with that when you're ready. 

@Angela Hsu My STR is ~9 hour drive. I'm in Arkansas and my 2 properties are near the beach in Gulf Shores. I use an messaging tool to automate most of our communication and a dynamic pricing tool to make sure our rates are competitive.

@Nam Trang We're on our second cleaning company and I'm pretty happy with them. We dodged a bullet with Covid, because our property hit the market just about the time Alabama was reopening the beaches. We were booked solid from mid-May through mid-September, when Hurricane Sally hit. We had to cancel 2 weeks of bookings, but we're back up and running on both properties. 

@Jonathan Stone

Yes, thats the gross rent from one rental. That's why I love STR- each property produces so much more rent than a single family.

I have two vacation rentals and will be buying my third before the end of the year (fingers crossed). Self managing is the way to go. 

To self manage, you'll have a to learn a few systems but it's absolutely worth it. The first property we bought did ~$39,000 in gross rent in 2019. Management took 23%. Self managing, we're pacing to do ~$75-80,000 in our fiscal year. 

Hey @Scott Davis, I'm an agent and own 2 properties there. I'm not licensed in Alabama but I can connect you with an awesome agent. I'll shoot you a PM. 

I'm looking for small, local bank(s) in the Gulf Shores / Orange Beach area to build a relationship with. We have two VRs in the area and I'm ready to scale. Used bigger banks on those first two deals, and now I'm looking for a more nimble bank local bank/credit union that will allow cross-collateralization on future deals. 

Whatcha got? 

@Louis Zameryka I don't know if you'd consider Gulf Shores/Orange Beach, AL (just west of the FL panhandle) but our beach houses there are pacing for a 20% annual return. Inventory is a little less expensive than what we found on 30A and the rents are similar. Good value play, IMO.