All Forum Posts by: Nathan W.

@Corbin Loveless We do have data through November. GSMNP is on track to hit about 13M visitors this year. https://irma.nps.gov/STATS/SSR...

The realtor spam in Bigger Pockets is getting bad. 
(Not talking about you Luke)

So many factors. Is this a basic cabin or a high end cabin with a lot of custom features? Pool? Sprinkler system? Steep grade? How much are you paying per square foot? Is it a spec?

I would assume 12-18 months right now to be safe. Some builders have a 2-3 year waiting list as well so that's something to factor in. 

I think your cleaning fees are too low and your OpEx is way too high. 

When I evaluate a deal I take out taxes and cleaning fees. Then I look at the price to revenue ratio which needs to be at least 1.25. So, a $1m property needs to be generating at least $125k a year in revenue (after taxes and cleaning fees are removed) before it starts to look interesting. 

The only way I've been able to get the numbers to work is to build new. It takes a long time and is full of headaches but so far it's worked out well for me. 

Actually, Realtors have a fiduciary duty to their clients 

https://www.nar.realtor/sites/...

I agree and I have some cash set aside for that very reason. I'm hoping to pick up some deals sometime over the next year. 

Is there any asset class where you can significantly overpay and make money in the long term? A lot of people are going to lose money over the next year +. But it has less to do with Short Term Rentals and more to do with overpaying for assets. 

Those who bought right, have a business plan, and reserves will be fine. 2023 might be slow but I don't think it's as doom and gloom as some are making it out to be. 

I try to keep it as simple as possible. This is my list. 

- It would be helpful to our cleaners if you could load and start the dishwasher. 
- Please take home or dispose of all food items.
- If you logged into any streaming apps on the TV, please log out.

The park numbers are lower, but not by much. They just reported June numbers and the drop was less than 4% https://irma.nps.gov/STATS/SSR...
I know park visitors are not the same as people staying overnight in cabins but there is a strong connection between the two. 

There's a lot to like about Rabbu. It's free, you can view seasonality, and you can filter results (pools, reviews, etc..). 
I do agree that their Revenue Projections can be on the low side though. My favorite feature is their Map tool. This gives you a quick snapshot of how the homes nearby are performing and a link to their Airbnb profile. 

I use a combination of Rabbu and the "enemy" method. One thing to look out for when using the enemy method. A lot of hosts jack up their rates for anything over 90 days. It's easy to look 5 or 6 months out and just assume they are getting a higher rate than they really are.