All Forum Posts by: Pete Galyon

 Hey Mark. No, not by a long shot. MANY of our clients are still fully booked for the most part and getting in to do maintenance is the biggest issue thus far this year. Honestly the things that the clients had done ON THE FRONT END are  SO important. Getting a property that stands out with a feature like an incredible view or water of some sort. THIS HAS BEEN HUGE!! Once find that right property we do an analysis of the property and what is wrong with the property as a whole and make a budget for it. This will dictate how we offer and how much do diligence is needed to prevent and unforeseen cost that could destroy the cash flow model. Also, the quality of the furnishings, presentation and finishes are super important. The details  

No I'm definitely not the only 1. Myself and the clients that I help find properties for are doing ALL the things they need to do on my advise. #1 buying a property that stands out with a view or in Blue Ridge water or a view ( where I own), is absolutely key. Nicer furnishings, bedding, marketing ( pics and video), even thing like higher quality coffee and TP... All of those things combined with our awesome PM handling business is why✅️🤜🤛

Great discussion, I wanted to throw my hat in the ring based on my personal experience with my STRs. I own 2 in North Georgia (Blue Ridge). One is renting well and booked into March, with occupancy rolling year being 72%. The other is not complete but has a ridiculous amount of equity and projections are better than the first. 

I've helped MANY clients purchase homes in that area as well as Gatlinburg, Pigeon Forge, Sevierville. As everybody knows, those areas are a little pricier, but even more lucrative with occupancies in the high 80 - 90% Range year after year. I can attest that the STR market is not slowing down (my phone rings constantly) as investors are starting to re-kindle their searches.

Check my property out... If you have questions, Holler. 

Click Here to check out my AirBnb

Hey pal, 

The way to overcome the high interest rates in a market like todays is to buy a property that is going to make you a significantly higher rate of return than your standard fix and flips (also the refinance rate in which you borrow). Let's say you borrow at 7% from a lender, you would want a property that generates at least 14% ROI.

Hey Evan yes. We always like to think you would find( we help our clients lock down a great manager) and that is always best case scenario. Yes, wildfires happen every so often( 10 -15 years or so) and if you base your numbers off of the good then not the bad, it is still the best market to invest ( per Forbes 2020-2021). It does include all fees and maint. The numbers and occupancy rates we see are on average 85% which is as good as any place in the U.S. and believe it or not the area is actually growing in size and popularity as it is expanding into the Wears valley part of the reigon.

 AH a skeptic. All ears to see what you know that no one else seems to be privy to. 

John good stuff you mentioned there for sure. All positive and true vibes. Its ( DSCR) and amazing product for those wanting to jump in though maybe the DTI is teetering. Will be using one or more to buy several properties.

It’s simple.. real simple.. Return on Investment. While your average long-term rental is only going to bring you hundreds of dollars a month, your short term rentals will bring you thousands of dollars a month. We have helped many of our clients acquire properties in the North Georgia Mountains near Blue Ridge and in the Gatlinburg and Pigeon Forge areas as well. The net revenue after expenses and property management can range from 35-60% cash on cash investment in the first year. With the property managers we connect our clients with, second and third year projections only go up from there. Last but not least, our clients have the option to visit and/or gift (family, friends, colleagues) these vacation properties in a few of the hottest markets in the United States. 

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $300,000
Cash invested: $70,000
Sale price: $450,000

BRRR method using an STR property that has projections in the 75k gross range.

What made you interested in investing in this type of deal?

Great ROI and growth potential.

How did you find this deal and how did you negotiate it?

on MLS. Paid over asking.

How did you finance this deal?

Conv. local lender 20% DP

How did you add value to the deal?

TOTAL flip and rehab.

What was the outcome?

Place is absolutely stunning.
We have created an opportunity to get away , but still be just minutes from any modern convenience you need.

Lessons learned? Challenges?

It always pays to not pay for a a job until its complete.

Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

I highly recommend Bruce Seigle at Movement Mortgage