All Forum Posts by: Kyle Smith

@James Thomas

Add $20,000 to all of Avery’s numbers and that would likely get you to current 2021 numbers.

Anyone can correct me if I’m wrong.

@Luke J Nelsen great info, thanks!

I’m not sure if this is the correct forum for Investment Construction loans but I’m currently looking for the best terms possible on my investment cabin build in Gatlinburg. I’m seeking out a 85%/15% investment loan with the best terms and rates possible. I know there are plenty banks in the area doing 80 & 75% loans but I’m looking for an 85/15.

Anyone know of any investment lenders in the area doing 85/15 loans?

Thanks

Thanks so much for the replies everyone!

I think I have most everything but when I run my calculations I do not have the taxes, fees, cleaning, VRBO booking fees, etc included. I guess everything a management company would typically take care of as a percentage I could plug into my spreadsheet if I managed it myself. 15%?

I would love to hear your thoughts on what percentage of my gross income would be for typical services and fees usually handled by property management companies in the Sevierville areas. I’ll be handling everything myself so instead of 30% for a PM, what percentage fees should I expect if I manage it myself?

Thanks

@Melissa Wesling

Yeah, that's what I was seeing. A lake view maybe and close to town seem to do the best. Branson may be my next STR.

@Stephen Brown BRRRR

It's all about character and that cabin has character. Ask yourself, does this cabin look like your home? If it does then it may not perform as well. Is it unique in any way? Heck yeah. It should kill on STR program.

I guess what I meant to say is there are small pockets that are doing PF/Gat like numbers. The STR owners there haven't necessarily figured out what amenities make these successful. It won't be long before the knowledge from PF/Gat spreads that way.

@Abhi Jain I couldn’t make the numbers work either. You will need to look into building new and offer something the older cabins don’t have. I just paid a MINT for a huge view lot. I don’t even want to think about how much I paid for it because it’s depressing but when it’s all said and done it should kill it in a rental program.