All Forum Posts by: Gerald Pitts
Gerald Pitts has started 11 posts and replied 460 times.
Post: Airbnb Cabin Neighborhood Dog Barking Dilemma
- Lender
- Asheville NC
- Posts 466
- Votes 317
Another vote for booking it if it's an existing STR. I've done this, and treated it as a long walkthrough, where I could take my time, and see what all the cabin needed.
Post: Scaling up quickly vs. maximizing COC return?
- Lender
- Asheville NC
- Posts 466
- Votes 317
Originally posted by @Owen Thornton:
@Gerald Pitts
Are there certain seasons you make more than others
Self managing. But it's not a lot of work with strs as long as you automate as much as possible. And I don't necessarily make more than others that self manage. More than some, less than others. A lot more than people that use antiquated property Management.
Post: Scaling up quickly vs. maximizing COC return?
- Lender
- Asheville NC
- Posts 466
- Votes 317
Originally posted by @Owen Thornton:
@Gerald Pitts
Where about do you purchase SFH for STRs to make that much cash flow?
The Smoky Mountains.
Post: $8K per month in cash flow w/ STRs?
- Lender
- Asheville NC
- Posts 466
- Votes 317
I think markets are the biggest driver. Find out where the biggest bang for your buck is. Also agree with less doors when possible.
Post: Post Covid tourism???!
- Lender
- Asheville NC
- Posts 466
- Votes 317
I would mostly go off of pre-covid numbers that you have there. If the numbers still work with that, then go for it. Covid also turned a lot of the public onto STRs. So you may still see some improvement over past performance.
Post: Interested in short term rentals
- Lender
- Asheville NC
- Posts 466
- Votes 317
Another vote for FHA loan/ house hack. You can also do a single family home if you're comfortable renting rooms out as STR. Be sure and research laws on this where you live.
Many have had success with arbitrage, but just research the many risks.
Post: buying a cabin in north GA mountain without agent
- Lender
- Asheville NC
- Posts 466
- Votes 317
Short term Shop brokerage is in that market. They teach you to self manage from anywhere. Highly recommend. Check out the Avery Carl episode of the BP podcast.
Originally posted by @Joseph McCrillis:
@Rolly Weaver
I grew up in Marietta and have been wanting to snatch one up in Ellijay or nearby, but I'm no longer in GA. I manage several STR's, but it does me no good when I'm not there in Ga.
Do you self manage them or use a PM?
Post: Offer accepted on first STR… Now what?
- Lender
- Asheville NC
- Posts 466
- Votes 317
Home Inspection
Home Inspection Repairs
License
Hire Cleaner
Line Up Handyman
Photos
HOA Due diligence
Electric Switchover
Water Switchover
Internet Switchover
Hire Pest/Bug Control Service
A/C Service
Hire Tree Company
Install Smart Locks & Thermostats
AirBnb Listing + Templated Messages
VRBO Listing + Templated Messages
Your Porter or Smart BNB
Set Up Price Labs & SmartBnb
Create Welcome Sheet + Guide Book - Hostfully orTouch Stay
Post: CoC return on a STR?
- Lender
- Asheville NC
- Posts 466
- Votes 317
Originally posted by @Jordan M.:
Originally posted by @John Underwood:
This same question has been asked many times on here already.
You’re right, I’ll do more research before I post. In all fairness I’m sure everything has been asked multiple times!
I also feel like some past answers are dated, and new answers can be useful. COC from a year ago may not be possible today for example.
Post: Scaling up quickly vs. maximizing COC return?
- Lender
- Asheville NC
- Posts 466
- Votes 317
To me, I think of highest, best use of money. I invest in vacation rentals. These are technically single family, but I quit my job after 2 SFHs (or 2 doors), and their growth paid for #3 and will pay for half of #4 I could not have necessarily have done that with 10 doors of LTRs.