All Forum Posts by: Joshua Strickland

I look for 20%+ CoC. That is the down payment, closing costs, and start up costs. Definitely harder to find now. Airdna is good for a data point and to get seasonality. Making the numbers work is all about how you manage the property. For example a lot of local PMs will project around $45k for a 2/2, but I’ve heard and seen plenty of investors are self managing doing $60k plus for those same size properties.

1. Where do you like to vacation?

2. Do the numbers make sense?

3. Can I afford the area plus have comfortable reserves.

4. Buy it

I would keep enough to have 6 months reserves in addition to down payment. Some lenders offer as little as 15% down for investment loans.

@John Underwood There are some lots in Smoky Ridge still available if your looking to be in a PUD. Or you can come be my neighbor on Falcon View Way. (I think the seller has it overpriced though)

The market could be at the top, or it could just be ROI compressing. There is as much data as to why it could crash as to why it will continue to go up. For purchase price it is all about your comfort level. The management of, and learning curve, between a 1 bedroom and 4 bedroom is essentially the same. I would just buy something that I could still have a solid 6 months reserves just in case.
Also run the numbers to see how much rates would have to drop for you to not to be able to pay the monthly nut and ask yourself if you think that will happen. You’ll probably find they could be cut in almost 1/2 and your still covering. It’s a fun experiment.

I take it this is Bent Creek. I wouldn’t bother. It’s not going to add value unless there were a lot of golfers coming to the area and looking for that feature. Any golfers are probably staying closer to Sevierville Golf Club. It’s a much nicer club.

Good idea, unless they’re vegetarian….

You’ll be 99% occupied Mid March thru Labor Day and 25% after that unless you can get some snow birds to rent it.

Depends on how close to the beach, how many can you sleep in the 4 bedroom, and do you have a private pool? Those factors can jack up that $80k revenue real quick

Yes. Sort of like going to a Metallica concert and wanting hear Beyoncé songs. She’s great and all, but that’s not what the large majority of people are there for.

Originally posted by @Joe S.:

Originally posted by @Joshua Strickland:

I believe this service is called a property manager.

 I was hoping to find a hybrid. I wasn’t sure if you was trying to be cute or if you’re serious. Lol

I looked at some of your properties listed on your profile and they look very impressive. :-)

Do you self manage?

 I was just joking. My sense of humor doesn’t always come off right. Yes I self manage, but when I first started I had a property manager for a few months. I asked to be copied on all the messaging, etc. If you can find someone to do this it does help, but I can’t stress enough how much you learn simply by making mistakes over the first few months of self managing. If that’s your end goal then I’d recommend ripping the bandaid off right from the start. It’ll be painful, but a few months in and it’ll be just as second nature as your day job.