All Forum Posts by: Ryan Moyer

No idea where people are getting this weird notion that a used hot tub is something gross and it has to be new.  There are hundreds of cabins that turn over to new owners every month in a place like Gatlinburg and every one of them keeps the hot tub from the prior owner and on one blinks an eye about it.  It's not like they're throwing it out and buying a new one.  

Heck, several of the people in this thread weirded out about a used hot tub are probably using a used on that came with the home in their rental.

 How far from the beach was this?  Most lots I'm seeing even 2+ blocks from the beach are $750k+ for 9000sqft lot that would be tight to even fit a pool on, just for the lot.  And I figured you were looking at minimum $1M+ for the build in that area.  Are the home builds much cheaper than I'm anticipating?

Since they're set up as separate listings each one has its own pricelabs dynamic pricing calendar.  I don't really go in and intentionally adjust prices so one is more expensive than the other.  So on some dates the combo is more expensive than booking each individually, and on some dates it's cheaper.  It's probably something that could be optimized further to force it one way or the other but I haven't done that, and honestly am not even sure which way would make more sense.

30ish percent, though that seems to have been rising lately.

I should note that these cabins are RIGHT on top of each other.  So close they almost look like they're attached.  One is 4br, one is 2br, for 6br total.

Further out I block off the individual calendars and only make the dual booking available.  Then 4-5 months out I open up the larger 4br cabin so that listing and the 6br combo are both open.  The small 2br is relatively easy to book last minute so I only open that one 6-8 weeks in advance.  The idea is I'd prefer to book it as a combo so I don't want someone booking the small 2br 8 months out and blocking off the combo's calendar.

I do this with two cabins I have right next to each other.

In what market? The owners of the largest STR specific realty group in the country are regulars on this forum.

Avery and Luke Carl are their names.  For some reason the forum software won't let me @ them.

Turn key is getting harder and harder to get a good return on in STR these days. Not that it can't be done, but it's not like it was a year or two ago where that was super easy.

Just be careful.  Phoenix is nationally famous right now for being oversaturated in STRs.

 Sounds like you're stuck with Coffeyville, then.

I think you've hit it on the head here.  Used to be a good cash flow market, but the secret is out and not so much anymore.  Realtors in the area aren't going to let anyone list at less than 10x projected gross revenue, and it's not a low expense area where you're going to cash flow much with those figures.

And that's not even to mention they're listing at 10x 2021/2022 gross revenue which may not even be sustainable.

Most people in the area either have pre-covid debt service or are buying for other reasons (appreciation, tax benefits, owner usage, etc).