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All Forum Posts by: Kevin Luttrell

Kevin Luttrell has started 18 posts and replied 283 times.

Post: How do you pay your cleaners?

Kevin LuttrellPosted
  • Lender
  • Orange County, CA
  • Posts 298
  • Votes 255

I currently use Turo, which I love for it's convenience and automation. I rarely even need to communicate with my cleaners at all since it syncs with my calendar and automates the payments. I just occasionally check the notes and pictures from the clean. 

The downside is it's expensive - they take 5% of the clean fee I receive plus 5% from the clean fee the cleaner receives. I guess that's not huge, but it feels like a lot especially when I try marking up the cleaning fee to guests to account for the Turo fees. 

For you self-managers, how do you pay your cleaners? Are you manually sending payments to the cleaner at each turn? Anyone use alternative methods to automate the process? 

Post: Negative Cashflow - STR

Kevin LuttrellPosted
  • Lender
  • Orange County, CA
  • Posts 298
  • Votes 255

Ya and we are not seeing appreciation in the Smokies right now, unless it's forced appreciation via upgrades/renovations. So I don't see any benefit to holding on to it longer when you're that negative on cash flow. 

Post: Negative Cashflow - STR

Kevin LuttrellPosted
  • Lender
  • Orange County, CA
  • Posts 298
  • Votes 255

Definitely sell it if you can. The market is saturated and it's unlikely demand will increase substantially any time soon. 

It's busy season right now in the Smokies - your losses will be significantly higher when the beginning of next year rolls around. 

Post: Insurance recommendations for Pigeon Forge area

Kevin LuttrellPosted
  • Lender
  • Orange County, CA
  • Posts 298
  • Votes 255

Southpoint Risk is great, but they do not write policies with Erie Insurance Group. Stan Inman himself will acknowledge, no one can touch Erie's pricing for STR policies in the PF/Gat area. STR is all they do and their pricing and coverage beats everyone by a good margin. They can be picky though.

Try Great Ridge Insurance Group. They do write with Erie and have been great so far. 

Post: Gatlinburg Cleaner recommendations

Kevin LuttrellPosted
  • Lender
  • Orange County, CA
  • Posts 298
  • Votes 255

Like Sarah, I've also had a good experience with Turno. When I set up my property I received multiple bids from cleaners and interviewed the ones I liked the most. Ended up sticking with the first one I used and she's been my go-to ever since. 

I still love and use the Turno software - they make it extremely easy with the checklists, cleaner pictures, etc. 

Post: Looking for Investors in Chattanooga

Kevin LuttrellPosted
  • Lender
  • Orange County, CA
  • Posts 298
  • Votes 255

I'm a buyer looking for properties in the Chattanooga market. I'll be interested in connecting. 

Post: Signal Mountain Quadruplex

Kevin LuttrellPosted
  • Lender
  • Orange County, CA
  • Posts 298
  • Votes 255
Quote from @Gina Shumway:
Quote from @Kevin Luttrell:

Nice job! I'd love to hear more about this. What are the numbers you're looking at for this project? 

Hi friend!!
    I got this project off market from a connection of mine (I'm a realtor/investor). I got an appraisal prior to starting and my numbers looks like this 

PP: 137k
Closing costs:5k
Renovation: 230k
projected holding costs: 26k
ARV: 620-650K
Estimated rents: conservatively--> $4400/month. I actually hope to get closer to $5000/month.

 Wow, that's fantastic. Way to get creative and think outside the box with converting a warehouse to a multi-unit! 

What does the permitting process look like and getting the zoning changed? 

Post: Signal Mountain Quadruplex

Kevin LuttrellPosted
  • Lender
  • Orange County, CA
  • Posts 298
  • Votes 255

Nice job! I'd love to hear more about this. What are the numbers you're looking at for this project? 

Post: Insurance broker or Agent for STR's in Pigeon Forge

Kevin LuttrellPosted
  • Lender
  • Orange County, CA
  • Posts 298
  • Votes 255

I switched to Great Ridge Insurance Group for my Sevierville cabins which has been great. The agent I've been working with there is Hannah Pickett. 

Post: Looking for BUYERS!

Kevin LuttrellPosted
  • Lender
  • Orange County, CA
  • Posts 298
  • Votes 255

I'm a buyer, looking in the Chattanooga area. Happy to connect.