All Forum Posts by: Luke Carl

@Alex Smith Hey bud just read through this forum and you will find the answers to your questions :)

Narrow it down to some specifics and then ask again!

@Collin Hays I like how you did the crawl space to match the river! Very cool! 

Originally posted by @Dustin Turner:

Hey there! I've been looking for our next STR investment and have been drawn to the Smokies...like so many other investors. I, of course, am looking for a deal. A diamond in the rough that we can improve and then increase rents and value. Not a major rehab, just something that's underperforming that we could fix.

As I evaluated the inventory, I started to notice the lack of "deals". This isn't a big surprise- it's a major tourist destination. But I was noticing that a number of properties available for sale had been purchased within the last 2-4 years and were now listed at 30%+ their previous sales price. 

From Zillow (don't hate)

As I did some more digging, I found out that Gatlinburg / Pigeon Forge / Sevierville area has seen listing prices increase 24% in the last 12 months and 38% in the last 24 months. This is of course a bummer for me, as I'm looking for a solid investment and I can't imagine rent rates are keeping pace with these accelerating listing prices. 

So I'm hoping to hear from you all that invest in the area. Are your STRs performing the way you'd like them to? Do the rents and occupancy rates justify these increased sales prices? Are there still deals to be had in the Smokies? 

Let's h

Happy with my 5! 

Pricelabs to me is basically the same as doing it yourself but with way more functionality and options. I tweak often. But unlike tweaking with Beyond I’m satisfied when I’m done. Beyond is more for people who never look and don’t care. Easier to get your hands dirty in Pricelabs. If that makes any senses

Pricelabs: management tool
Beyond: set it and forget it 

Neither one is the wrong answer! 

SFH for me. Can check mine out in the link below

@Doug Stern. *Waiting for uncle Paul to put his beer and shotgun down to answer

Vacation Home as to be more than 65 miles from your home and this doesn't sound like a vacation home to me so you're looking at 80%LTV

hope that helps! 

@Jessica H. if you’ve never been to Gatlinburg you certainly want to visit before you move. It’s a special place. No one lives here. 

If you do honest work and show up on time your phone will never stop ringing. Middle Tennessee you’re talking Nashville. Polar opposite of GBurg. Time for a visit. 

 Can you do that math a different way? How does the 550k relate to 750/unit? What does that net me per month assuming your $600 capex? 

Seems to be all too common situation with me. Who the hell moves in a tenant with no deposit in a C neighborhood I have no idea. 

When it comes time to renew the lease here are my thoughts.... 

These folks have no money. If I ask for a deposit they'll likely say no. Then I have to turn the unit and spend a bunch of dough and stay vacant for a month.

What would you do?