All Forum Posts by: Joshua Strickland

Hospitable and Pricelabs software has made the largest impact. Touchstay for a guidebook is a nice touch. 

I work for a major car rental company as my W2 job. (Enterprise) I wouldn’t recommend this. Will it give you a potential revenue stream? Sure. Will it 10x your risks? Also yes. Our employees go through a long check list before renting every car. Unless you have someone on site to walk through it before the renter gets there and do a walk around with the renter once they get there your logistics will be a nightmare. Even if you do find a way to pull it off the liability is insane. Better be checking the tires and triple checking for no recalls or Maintenace on a daily basis. Even then your liability is off the charts. 

If you’re looking conventional loan check out Parker Borofsky with Movement Mortgage in Knoxville. She’s done a lot in Pigeon Forge. Used her on my first cabin.

If DSCR is what you're looking for, I'm currently doing a cash out refi 70% LTV on a 1 mill cabin with Robert Vargas with www.thelender.com they are based out of CA but have a pretty good grasp of the STR market and can use the project income + appraisal to qualify the property.

Check out www.strinsights.com

They haven’t launched yet, but you’ll start getting emails that talk about potential markets. They recently sent out a top 5 beach market list that is worth looking into.

Brandon with Silverworks productions. https://silverworkproductions....
He also does videos which is pretty cool.

I use Erica with Sunset Clean LLC. She does a good job for me but only takes places 3+ beds. Island handyman service is my go to for handyman items. They stay pretty busy. Hope this helps

I have a 3/3 condo in the new Calypso Tower in PCB on the West end. Bookings have been slower than expected however I’d say 80% of my bookings have come less than a week out this year. January of February we’re slow as to be expected March and April are shaping up to be good. Rates have remained high however it seems like people are taking shorter vacations. Most of mine have been 3 or 4 days vs. week long. Either way the revenue from June and July will keep my numbers in the black for the remaining portion of the year. I will gross around 90 and that is with some personal usage in both the summer and off season. 

Those were just quick calculations and not meant to be a deep dive. A lot has changed since then. For example…You’re not finding a 3/3 for $650k in the Smokies. I also don’t love the 10% vacation home loan. If you’re using as an investment, you should get an investment loan.

With that said there are still 20%+ CoC returns to be found even in this market, there just not as plentiful.

I’m in Serenity Cove North and right off Engle Town. Hopefully it goes north west and not north east or I’ll be in the line. Still miles away though.