All Forum Posts by: Sipan Y.

Does anyone have mid-term rental experience in Fresno, CA? What does the occupancy and demand look like? Currently, there are many properties for rent on Zillow. I'm wondering if they can still generate positive cash flow or not. Thank you!

LOL... I'd known Cosby. It is under development. Do your cabins have good views? 

 Is it in Wears Valley? 

I am an investor in the Smokies and I purchased my cabin in December 2022. I paid ~12% less than listing price ~$385k. Two identical cabins were sold in the same resort afterwards. The first one was sold ~$40k higher than my cabin and the second one ~$100k.

I put 10% down with 8% interest rate. Since I went live, except the first month, I have had positive cash flow every month (between $100 - $1700). My occupancy is +90% every month. 

Tips. I would purchase a unique property/cabin in a popular vacation destination. Smokies is one of them as you mentioned. I wouldn't buy the cabin located on 754 Kings Hills Blvd. I would buy a one bedroom or a studio cabin with mid range or long range views. I would buy in or close to Gatlinburg (the closer the better). Location, location, location. Big cabins performed very well during Covid because families were traveling together. They don't perform well anymore (3 bedrooms and up).

I had the same issue. I removed the switch. 

@Nate Slappey III

The cheapest way... Look up Zillow and Redfin, find distressed property, come up with a purchase price that would work for you, pick up the phone and call the seller's realtor to negotiate. Keep repeating until you find a deal.

Chris Martin
In the bay area where I live, the number of active listings are two to three times more than December 21 and January 2022. Interestingly, it is still a seller market, and the average days on market DOM is still less than 3 weeks. Same thing applies to greater Sacramento area. More inventory, but it is still a seller market. A market softening, as far as prices, is noticeable, but we are far away from housing crisis.   

This might have an impact on the number of summer visitors, per the article

https://www.travelandleisure.c...   

Are there any zoning plans? Does it apply to the entire city or to a certain area? Do you know if they already issued the 500 STR licenses yet? It is my understanding that tourism is the main source of income of the local people. Not clear what are they trying to achieve by putting a limit. Zoning would be a more reasonable approach to me.

 Never been to that area and can't speak to that. Thanks for your response