All Forum Posts by: Dustin Turner

@Delbert Standifer Yes- you can BRRR is Little Rock. You'll definitely want to buy it right - and that means buying in the right locations. We've seen some pretty modest appraisals this year and location will be critical in making sure you can hit your refinance goals.

PM me if you have questions. 

Y'all- this is a fun conversation. Thanks for contributing.

Anyone willing to share numbers on their STR in the Smokies: purchase price/bedrooms/gross rent? I'm curious how they stack up to my Gulf Shores beach house.

Hey there! I've been looking for our next STR investment and have been drawn to the Smokies...like so many other investors. I, of course, am looking for a deal. A diamond in the rough that we can improve and then increase rents and value. Not a major rehab, just something that's underperforming that we could fix.

As I evaluated the inventory, I started to notice the lack of "deals". This isn't a big surprise- it's a major tourist destination. But I was noticing that a number of properties available for sale had been purchased within the last 2-4 years and were now listed at 30%+ their previous sales price. 

As I did some more digging, I found out that Gatlinburg / Pigeon Forge / Sevierville area has seen listing prices increase 24% in the last 12 months and 38% in the last 24 months. This is of course a bummer for me, as I'm looking for a solid investment and I can't imagine rent rates are keeping pace with these accelerating listing prices. 

So I'm hoping to hear from you all that invest in the area. Are your STRs performing the way you'd like them to? Do the rents and occupancy rates justify these increased sales prices? Are there still deals to be had in the Smokies? 

Let's discuss! 

@Mati Golani As an agent and investor based in Little Rock, I can assist you with some of those details. Some awesome areas that are great for B class investing are Jacksonville (B &C), Benton, Cabot, and Conway (if you can find deals). 

Might want to avoid Rose City, East Little Rock and some pockets of down town. @Adam Chudy is right- you really need to know the city. Feel free to PM me properties you're looking at and I can give you my thoughts. 

@Adi Tal I can assist with local info. 

I agree with this assessment. The Little Rock metro will be a better option for investing than Hot Springs. It'll be easier to find deals and contractors and property managers in the LR area. 

What's up @Hadar Orkibi! Send me the details and maybe I can find you a buyer. 

Nice! Jacksonville is a fantastic rental market. Right next to the airbase, the city just created their own school district and are building a new high school. I have a couple of rentals there and work with a lot of investors who buy there as well. Some good deals to be found. 

This concept is discussed in podcast #364 with Avery Carl. It's an interesting idea. I'd like to hear from a lending profession the best way to approach this. 

I'm buying my first vacation rental now. We were able to get the 10% down loan. It has to be considered a second home for you, not an investment property. And I think it has to be in another market. Ask a few lenders, they'll know the rules. Hope that helps!