All Forum Posts by: Joshua Strickland

I just use a citizens double cash card that gets me 2% back. Probably should transition to an actual business card at some point though.

Standard Textiles through Host GPO

Wage inflation is also taking place. If you have fixed long term debt then as wages rise, people will have more income to pay higher nightly rates for rentals. The delta between those rates and your fixed debt should rise. However you won’t be able to purchase more with that income received and if people stop traveling to save $ then make sure to have ample reserves to weather until the next market cycle.

As Grant Cardone says “cash is trash”. —Until you need that cash to pay your mortgage.

@Venel Rene I actually disagree with @Andrew Simms & @Matthew Crivelli. For a regular market yes, make sure it could be used as a LTR, but for a vacation market such as Kissimmee the dynamics are different. If it doesn't work as a STR then it likely won't work as an LTR either given some sort of market collapse. This market is driven by tourist on vacations or conferences. If Disney/Universal/etc. go away then STRs will fall, but so will LTRs since all those workers will move out to get other jobs. That's the risk you take with vacation markets, but it is a small risk in my opinion.

Where else would you be able to get a 25% CoC return? I'd close on it if those were my numbers. Also if you self manage the CoC would skyrocket. If it isn't your thing fine, but you may find it easier than you think.

Do it. Take action.

Just my opinion…. They are a little far north and east from the main attractions of Sevierville/PF/Gatlinburg, but guests would still be able to access easily. With the new developments coming off the I-40 Sevierville exit these could prove to be a great investment. I would expect lower rents compared to cabins closer to PF and Gburg for now though.

Get a good management software that allows auto messaging. Hospitable, guesty, your porter, etc. Set a message for a couple of days after checkout as a reminder and then one the day before the 2 week review period is up. 

If it can happen, it will happen. Not often though. Over communicate how to operate. Post directions in welcome message, outside on the hot tub, maybe even a link on a day after check in message. My cleaning team refills after every guest.

10% down for second home loan. It’s a great option to get started as long as it meets the second home loan requirements. Jumbo loans are over $548,250 unless your are in a select few high costs markets. Your lender will be able to tell you if you are or not. I hear that amount is about to increase in the next few months.