All Forum Posts by: Luke Carl

Hi. What thoughts/experience do you have with studio/1 bedroom in Destin. Newer investor and looking for an entry level STR as my first rental. I am looking at a studio/1 bedroom in the Sandestin area. Based on history it seems like the studios I've seen cash flow really well but it seems like the property may sit for awhile when trying to sell in 10 years. Specifically looking on the bayside communities of Grand Sandestin.

For those of you who own short term and midterm rentals... What percentage of your bookings come through on AirBnb and what percentage comes in through Booking.com? Do any of you have direct bookings coming in regularly? Are the percentages different for Short term and midterm?  

Hi, everyone. My husband and I have been saving for almost a year to invest in our first rental. To me, STR is the only thing that makes sense for us, as we are 40 with 2 kids, and looking for the highest cash flow possible to allow for quick scaling and then freedom from the 9-5. (I recognize that the halcyon days are behind us, and this may still be a 5-10 year process.)

I have been reading the books and listening to the podcasts, so I pulled a pricelabs market analysis on our first choice (dream) market, and then looked at the MLS to determine what price range we would be looking at. 🤯 Went to our more local second choice, driving distance market— 🤯. Million dollar and up for even modest properties, 2 or 3 BRs, no pool or beach front.

Silly me was proud of saving almost 30k this year, when it will likely not even get us close to our goal of 2024 purchase. How do you even get into these beach STR markets as an average person? We make decent money, but it sounds like off-market deals are slim pickings these days, and I doubt we would qualify for a 900k mortgage. A bit of quick math at second home mortgage rates also tells me that breaking even with MLS prices the way they are right now would be a stretch.

I’m happy to put the work in to find a deal, and be patient, but unless you already have a cash flowing property to provide substantial leverage, I can’t see how this is realistic for an average person. Am I relegated to B markets? LTRs in small cities? I am missing a piece of the puzzle I think. 

Help! 

TIA…. 

You who have properties in the Smoky Mountain area (Gatlinburg, Townsend, Wears Valley, Sevierville, Pigeon Forge) and self manage from afar - what services do you wish were more available to help you manage from out of town? 

Help with emergency situations? 

Help with monitoring / checking in on short notice?

Short Term Project Management / managing subs (pricing, quality management, etc.) for additions, renovations, septic tank work?, - bigger tasks that need a bit more monitoring but you may not be able to handle yourself being out of town?

Looking for an opportunity to start a business that could help you and provide opportunities for me to learn. 

Any ideas?