All Forum Posts by: Ryan Moyer

Honestly if anything 2% seems a little high.  That's $120k yr/gross on a $500k purchase.  I have no doubt there are people pulling that off in spades, especially those that purchased their property before the covid real estate boom, but are now renting in the post-covid rental boom.  But I think the numbers still work pretty well even at less than 2%.

Pre-covid there were definitely a lot of folks buying $500k properties with the intention of doing $70k-$80k gross annually and still quite happy with their ROI.

Unless that $50 covers the cleaning fee when you leave it seems utterly absurd to me that a PM would charge you money to use your own home.  What exactly are they providing for that $50?  There's no marketing involved in getting you to use your own home, there's no guest communication during your stay required, etc.

I realize $50 is nothing in the grand scheme of things but the idea of paying someone $50 to let me use my own home that I own is ridiculous.

Again though, that is assuming you are paying the cleaning fee on top of this.  If this covers the cleaning then nevermind.

Originally posted by @Michael Baum:

Hey @Shawn Green, sounds like a neat place! Have you considered self managing it? Most of us to that here and we are doing it just fine. It should work very well in that area as there will be tons of resources like cleaners and handy people to take care of the place.

As for the game room, especially on a 9br place, seems to be a necessity. My wife and I were looking at some 3/2 and 4/3 places in the various resorts in that area. While doing my normal research, I looked at the higher end places and I will say a fully Disney themed place looks pretty awesome.

Some of the game rooms are over the top. Here are some examples and these are rather easy to do:

These are some places in Windsor Hills. Take a look at all the higher end listings for vacation rentals to get some ideas. Some of the things I saw were amazing. Beds with slides, oversized R2D2 and C3PO models, full castles from Frozen. The list goes on.

I am curious to how you think you will do. Most of the large places I saw were around $250-$300 a night for a 9/5. I did look in Solara and they do seen to bring a bit more around $350 a night.

This place gets over $500 a night in Solara to give you an idea of decor:

 Does Solara rent out as well as Champions Gate?  It looks like there are some nice already-themed places available in Solara whereas the leftovers in Champions Gate are only a little cheaper and would require paying up for all the theming.

I get the impression the resort amenities in Champions Gate are better though.

Interested why you think Kissimmee is up 20-30?  I've been keeping an eye on that market and it looks like it's been relatively flat since pre-covid, given that it was one of the hardest hit by it with so much international travel involved.

You're not kidding.

While I'm sure their numbers are lower than a good PM/self manager could do, Evolve is advertising a house for sale in Steamboat Springs for $4 million that did $60k in gross rental revenue last year.  Holy cow!  For 4 million in the Smokies you could buy four 5/6 br pool cabins that would probably do $700k+ in gross rental revenue.

I am pretty surprised at the number of properties operating illegally, on both platforms.  I've never really had any issues pop up from up, but in my last AirBNB rental I was told if I run into any neighbors in the hall to tell them I was the owner's cousin.  My last VRBO rental (a big 5 bedroom pool house in Vegas) there were signs plastered everywhere inside the house to not talk to any law enforcement that comes to the door and asks who we are and to give them the owner's phone number if they come around asking.

As OP mentioned no mention of either of these things in any of the reviews in either property.  Could potentially put a guest in a very awkward situation though.  Sorry host, if law enforcement does straight up ask me the question I am not going to lie to law enforcement to protect you, lol.

I think lots of people are probably running into it.  With so much competition something like cash makes an offer stand out more than normal.  Doubly so when many of these homes are going for higher amounts than they may appraise for which may ruin a non-cash offer that doesn't have the appraisal contingency waived.

As others have mentioned you can always pay the 15 year amount on your 30 year mortgage and it will work out the same.  The only advantage a 15 year has is that you get a slightly better interest rate.  I don't think that is worth the added flexibility of the 30 year loan even if you plan to initially make 15 year style payments on it.

 That doesn't sound at all like what happened here.  From what I can tell it looks like the city purchased a couple of properties that were for sale, and have been listed as for sale for some time.  No one was forced to sell anything.

You get a push notification when a new message comes through the app the same way as you do when you get a new text.

I would imagine most hosts here, especially those managing multiple properties, specifically don't want people to have a way to call them at 2am because they can't find where the extra bath towels are.