All Forum Posts by: Ruth Blue

@Amy Canfield PM at 30% seems high. There should be other PM that do not charge as much and still do a great job. Definitely. Something to price and run numbers to see what you want to do with your time. Do what feels right for you. 

@Avery Carl Great Podcast Guest. I've been waiting for someone to go on there and talk about our neighborhood. My Mom @Rhonda Blue always mentions about growing up coming here and it was refreshing to hear you mention it. Totally love the aspect of analysis paralysis points and OH Man especially the airbnb guests who ask a million questions. You definitely know they will be the type of guest who moves the bed to find dust bunnies! Hiliarious. 

Only thing I would add is the software YourPorter. For those of us who do like to take reservations ourselves. This app allows for returning guests to just call or email and we can book them through this app plus it has a great interface, syncs with multiple platforms, sends reports and helps to keep high ranking on airbnb. Worth a look! 

@Kiera Underwood We are in Gatlinburg Pigeon Forge area. My mom @Rhonda Blue owns 5 rental cabins and has been in the market for years. This will be my first personal one in Gatlinburg. 

@Account Closed

My Mom's last property she refinanced and it was based solely on investor income and potential income from the property. Yes There are lender programs who work with private money that are available that do just this! That was a huge part of her BRRRR.

THERE are BEARS... Gotta respect Nature

Thank You @Dave Foster for mentioning my mom @Rhonda Blue

I know she has used you a bunch of times to sell Utah long term rentals and then buy cabins out here in the Smokys via 1031 exchange. I heard her mention your name to someone just yesterday! 

@Edward Jakubiak A good strategy is to do what you feel comfortable with. What does your gut tell you! The thought of STR really stresses some people out but in the end they are very similar to Long term just the returns are more. Self managed or with a manager to help. My mom has long term rentals in Huntsville Al that make good returns and they are with a local PM at 10%. It is a myth that all Short Term managers charge 30%.

In Gatlinburg, Sevierville the cabins are going for 250k or higher for turnkey. If you able to do BRRRR there are some deals under 250k.

2020 Goals

I want to continue growing STR Turnkey Management Business

Personally Buy and BRRRR at least 5 STR properties this year. Already closing on first one end of Jan!

Hope everyone meets and exceeds their goals. 

@Michael Stokes Our pest control guy who sprays our cabins regularly said there is a new pest spray that he treats the whole outside of the cabin with that deters the Carpenter bee. We have started that treatment on all our cabins last year and hope to have much few incidents of woodpecker damage for years moving forward. When all the bees were swarming last year we definitely had less guest complaints. 

Hi @Asif Mohammad

My mom @Rhonda Blue self manages 6 cabins in the Gatlinburg area and she started when she was in Orange County, CA. It is absolutely doable. The main issues she had to overcome was fear of "what if". I know she said after an incident where a tree fell onto the roof of one of her cabins and she had to find a tree removal company and roof person at 10pm. Google and yelp reviews become your best friends. Having a strong network locally is a must. I agree with @Wendy Schultz Use services like Thumbtack, Care.com, etc. If you don't mind being on call 24/7/365 and coordinating the guest stays and boots on the ground team, it's doable.

@Account Closed owns land in Wears Valley and has meet a few builders. There's a gentleman from Florida building right now on top of Clabo Mtn. He is a builder in Florida and broke ground 3 weeks ago on a 3/2. I know he said his well he hired a company from NC. Seems alot of builders and subs from just outside our bubble are happy to help fill the gaps where the few Sevierville companys are backlogged. On that note I should also mention that speaking with a friend who was supposed to start building halted because the price went up more the 50% after approving blueprint plans and paying deposit. 

So many options either way building or buying this area continues to grow! 

Breaking through the sales talk! @Account Closed Smart investors are rehabbing or building. Ask your realtor to share MLS land with you or tour some plots. Wears Valley and Sevierville have great lands available to build your dream cabins. Especially since ya'll are familiar with building, the process will be totally doable. Builders are quoting 125 to 175 for 1 bedroom with loft which fly off the sale shelf and go pending in 24 hours here.

"Would it be possible to find something 150-200k in that area that would help us achieve some passive income? " These deals are available but you have to want to rehab in that price range. BRRRR TIME!

@Sean B. I agree with previous comments that $249 with 30k is low. We have noticed alot of the old school management companies tend to over charge and not keep up with maintenance issues causing for negative reviews that affect the earning potential in the long run. If your new place has the potential and You and your dad have the vision You can probably turn it around into a more profitable cabin. 

I'm doing BRRRR my first Gatlinburg cabin closing this month. Needs a bit of sweat equity!