All Forum Posts by: Joshua Strickland
Joshua Strickland has started 6 posts and replied 407 times.
Post: What software do you recommend when self managing STR
- Investor
- Flowery Branch, GA
- Posts 413
- Votes 412
Hospitable(messaging), Pricelabs(pricing tool), Stayfi(capture guests emails), touchstay(guidebook), ring outdoor camera
Post: Gatlinburg: $1000 psf
- Investor
- Flowery Branch, GA
- Posts 413
- Votes 412
Honestly, I’d happily pay a premium to stay within walking distance of downtown Gatlinburg. Parking is a headache and Mountain View’s are a dime a dozen. I’m jealous of the river view.
Post: Gatlinburg: $1000 psf
- Investor
- Flowery Branch, GA
- Posts 413
- Votes 412
3 rules of real estate: Location, location, location
Every time I start to think this market is tapped out it surprises me.
Post: Still a good time to buy a STR in PCB at the current prices?
- Investor
- Flowery Branch, GA
- Posts 413
- Votes 412
It’s a valid question that no one knows the answer to. Like you mentioned, my PCB condo has doubled in value since last year. (I thought I was overpaying at the time.)
Also depends on if you are buying all cash or with a loan. We know rates are going up so at an increase in rate, values could fall significantly and you’d still have the same payment.
For example: a $700k condo w/ 20% down at 5% - principle and interest payment would be $3,006.20. If rates go to 7.5% that condo could fall all the way to around $537k and you would still have the same payment. About a 23% decrease in price which in historical terms is a big crash.
Pick your poison. Have good investing principles with ample reserves and you’ll be fine. If not, you’ll get crushed.
Post: How Do I Account For Seasonal Fluctuations & Vacancies?
- Investor
- Flowery Branch, GA
- Posts 413
- Votes 412
Run your numbers based off annual revenue, not monthly.
Save profit from the busy season to use to pay your mortgage in the slow season. Example: I’ll make $15k profit off my beach condo in July, but I’ll loose $2k in February. Numbers still work annually.
Post: Photographer need for STR in Sevierville
- Investor
- Flowery Branch, GA
- Posts 413
- Votes 412
Mike Sutton - https://mikesuttonjr.com/
Post: STR in Bryson City, NC
- Investor
- Flowery Branch, GA
- Posts 413
- Votes 412
Harrah’s Cherokee casino is just up the road and Great Smoky Mountain Railroad is a draw. They do a Polar Express ride close to Christmas which brings a crowd. It’s the quieter side of the Smokies.
Post: STR Marketing Strategies
- Investor
- Flowery Branch, GA
- Posts 413
- Votes 412
Play around with your minimum night stays and pricing on weekdays versus weekends. A two night minimum with increased weekend pricing can net you just as much as a three or four night minimum and you’ll show up in more searches on Airbnb and VRBO
Post: Looking for STR in FL
- Investor
- Flowery Branch, GA
- Posts 413
- Votes 412
Strategy - self manage
Location - any vacation destination (for the most part)
Price point to gross $100k - $800k+
Price point to NET $100k if only putting 20% down - $2M+ probably
Post: Creative home maintenance automation
- Investor
- Flowery Branch, GA
- Posts 413
- Votes 412
Quote from @Lynzie Mackey:
@Luke Carl just created an account on Trello. Is there any way you can post a screenshot of your workflow, or how you utilize it for the maintenance? I would love to see what you're doing!
@Joshua Strickland I like this idea as well. Any tips on how you found a good handyman? I have one I use, but he might not sure I would trust him with something like this. He's great at showing up the day I have a problem, which is why I continually use him. I guess that would be more emergency maintenance? I want someone more to inspect the properties and deal with the small things.
Now that I think about it, I'm also wondering if people have a way to get work orders from the guests directly? Like maybe a google survey or platform where they can report things and it can go directly to that maintenance person. Any ideas?
Local Facebook groups work best