All Forum Posts by: Justin Anderson

Sent a PM.

You'll find that anything can make money and all will hit 85%-90%+ occupancy if run properly.

Rates vary based on proximity to town.  Views aren't necessarily a big thing to have.  Pools ARE a big thing to have.  Don't go north of downtown Sevierville or east of Cobbly Nob unless you have a deal or know what you're doing.  You can go as far west as Townsend if you find something nice enough.

It is very, very undervalued for the main market I'm in.   

Sending you a PM.  We may be able to help you .

At present prices in PF/G you should be able to get at LEAST a 10-15% COC return with 20% down. (Obviously that doubles if you do 10% down) Just be smart about what you buy (meaning don't spend 700k for a 2BR).

As to whether the market will dip both rate wise and cabin price wise is anyone's guess.  While the market has been extra hot,  I think that's a bit of a nationwide issue and not just this market.

Note that this needs to be very well managed with rate optimization dialed in tight.  The airdna numbers are way, way low from what we get.  (Our worst 1BR cabin paid out over 60k last year to the owner where airdna expected 32k.)

@Chris Mahlmann You just 'hide' the bad listing until all the bookings run out and then deactivate it.  You then link the calendars up so your new/good listing doesn't get double booked by the bad listing's bookings. 

Raising the price super high is a bad way to do what you're trying to do.  One of the important ranking signals the sites use is the 'look to book ratio'.  If you have 100 people see your high price and none click, the site learns not to show you as much -- they'd rather show a property that does get booked.

 Good luck with the labor to make it happen.  You will be on a gold mine if you have a good team.

And you're way underestimating revenues.  My 1BRs all crack 60k gross.

@Collin Hays did a way more thorough job answering this than I would have.  Haha!

Prices are going up nationwide not just in the PF/G area.  Rates are definitely up from pre-pandemic but so is my Big Mac and cable bill.  Will the increases stick?  Will purchase prices go down?  Nobody knows for sure.

But purchase prices are still way below what they are in CO and you can easily get good cash flow from cabins even IF rental rates go down next year.   (They're still going up now)

You're totally right... With just one property you don't really need much fancy stuff.  You can just use the built in systems in airbnb/vrbo/booking/etc.

As you get more properties and start putting automations in place (guest messaging, door codes, reviews, etc) you'll want to look at software.

At this point we've written our own because we can mold the systems to be unique to our area and properties just to help speed things along.  But there is definitely not a need for you to overcomplicate things or add another bill.