All Forum Posts by: Leslie Anne Morris

I think all of these things are factors right now. It’s definitely a different summer…not pandemic but not quite pre pandemic yet either…maybe even slower than normal in some pockets. Also listings with status (that have been around a few years) are going to book first.

It could be that you’re not coming up in the search because there are too many other properties which have status. That happens on Airbnb too. 

You’ll have to talk to lenders and see what they’ll allow. This isn’t something you can hide from a lender, it’ll show up in your purchase contract. 

1 bathrooms perform a lot lower. It happens here in the Smoky Mountains also. 

Is it all rolling up into a PMS? Or are they doing everything three times?

My CPA provides an hour tracker document and some guidelines.  He can be found here learnlikeacpa.com. You might need to do some projects to hit the hours!

I’m using Beyond for dynamic pricing. This summer the trend of last minute bookings is continuing. I’m seeing only larger properties booking out further. 

I bought a 2 bed / 2 bath house in Pigeon Forge, TN in 2021 for $282k. I did conventional financing and put 20% down. This was my 6th or 7th STR in the Smoky Mountain market (now I have 11 and I am building number 12). I bought this place because cabins started to get expensive and I wanted to do a test, this was one test amongst many. And I continue to test!

This house was boring but in a great spot - right on the trolly line and minutes to all the fun.  In 2022, I tried going over the top rustic / bear theme (since this wasn't a cabin with mountain views it already looked gross compared to the rest of my portfolio!).  I did a deck off the back, added tongue and groove ceiling and more bears, rents didn't budge.  

So this year I decided to try something big...I set a budget of $10k but blew that out of the water and spent $25k turning this house into a Dolly themed paradise, now aptly named Parton Paradise.  I am sitting back and watching the bookings come in.  On my TikTok account this place has gone absolutely viral more than once, even fetching over 300k views on one of my latest shares.  

More to come on ADR increases.  For now, here are some before and after photos.

BEFORE

AFTER

No, you’d probably be fine then! It’ll show as a blocked month which Airbnb doesn’t like of course, but shouldn’t affect your rating in the short term.