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All Forum Posts by: Ken Boone

Ken Boone has started 9 posts and replied 974 times.

Post: Smoky Mountain Slow Down?

Ken BoonePosted
  • Investor
  • Greenville, SC
  • Posts 986
  • Votes 1,180
Quote from @John Carbone:
Quote from @Luke Carl:


Also showing a snapshot of your summer bookings that were most likely booked out several months ago is not indicative of the current situation. Something changed abruptly between April and May. 

This is how May was before covid.   May has always been a drop off month.  Spring break is over and kids are not quite out of school  yet. Expect the same come end of august into September.   Yes I do agree we are seeing less demand but everybody and their brother visited the smokies in the last 2 years and I think some of them want to go somewhere else this year. To me it just feels like we are back to pre-covid times.  And then we are also competing with a number of folks that bought in last year at super high prices and not making bank like they expected and are slashing their prices like crazy.  Many visitors are going to change bookings for price alone. Unfortunately those that doing that are going to find out that strategy is still not gonna work in the long run.   

Post: Choosing Between Two STR Units

Ken BoonePosted
  • Investor
  • Greenville, SC
  • Posts 986
  • Votes 1,180
Quote from @Luke Carl:

They’ll likely perform comparably depending on management. Don’t over think it just pick the one you like! 


100% 

Post: Smoky mountains dry well

Ken BoonePosted
  • Investor
  • Greenville, SC
  • Posts 986
  • Votes 1,180
Quote from @JD Martin:
Quote from @Ken Boone:
Quote from @JD Martin:
Quote from @Ken Boone:
Quote from @John Carbone:
Quote from @Ken Boone:
Quote from @John Carbone:
Quote from @Michael Baum:

I would also begin to wonder if this is something systemic with the area. In the greater Sedona area, water can be hit or miss.

There are some areas outside of the Sedona area that look like great opportunities until you find out that their aquifer is drying up and water will no longer be available.


 That’s what I was kind of getting at here. I’m hearing this more and more around here. How do you protect yourself even on a “turn key”, do you just lose half of your investment when the water runs out and can’t be brought back?

No I think you gamble and drill another well or go deeper and pay the price. 
And what happens when the gamble doesn’t pay off? 

 I think you will eventually hit water just may have to pay more and go deeper in that area.  I don’t think the gamble is whether or not you will hit water.   The gamble is in how deep you have to go and how much is that gonna cost.  But I would definitely be talking with the well drillers as they have a pretty good idea about most areas they drill in where the water is and the typical depths they have to go. My comments are only concerning the southeast don’t know anything about out west. 


 I spent many years in the water industry here. Wells are notoriously tricky here in the mountains; because everything is solid bedrock you're never really drilling into underground aquifers/lakes - you're trying to hit seams where enough cross to keep your casing full of water. This is not easy to do at all and a lot of drillers just rely on experience and local knowledge about the likelihood of hitting a good seam. About 10 years ago we drilled two wells at a treatment plant about 75 yards apart. The first one produced over 200 GPM at 600 feet. The second one produced less than a gallon a minute at 1300 feet - essentially a dry hole. Add to that the fact that mountain geology is always changing - as the earth shifts the rock cracks in different ways, and wells can dry up in an instant as water finds a different seam with the new cracks.

Best thing they can try to do first is fracture the existing well - sometimes you can open the seams up wider and that solves your problem. If not, unless you have a decent sized property, drilling a new one is probably a waste of time and this place will have to truck in water or create a large cistern system. 


 200 gpm!   That is insane.  Never heard of having that much flow. The 1 gpm could work though although not what you want.  The reality is at that depth with a  6 inch pipe you have a lot of water storage.  

You are right about how finicky they can be. My neighbor gets like 32gpm at 200 fr and I get 2.5 at 515ft at my home.  They told me not great but you have the storage at that depth.  I didn’t know whether or not to believe them or not but I have had that well for over 20 years now with no problems running out of water.  Fortunately.    It’s still always a gamble though.  

A 500 ft well with 6" casing will have somewhere around 500-600 gallons of storage, depending on the local water table and how fast it can replenish. So depending on how fast you use water it can be plenty even at 1 GPM, which would theoretically be 1440 gallons per day. The problems end up when the recharge rate is severely dimished because of drought, or a lot of local development starts siphoning off the capacity. In places where the underlying ground is heavy bedrock or really heavy soils it might not be obvious right away that the recharge has been diminished. 
Yea I think you just have to pray for the best if you get a well that ends up that way. 

Post: Smoky mountains dry well

Ken BoonePosted
  • Investor
  • Greenville, SC
  • Posts 986
  • Votes 1,180
Quote from @JD Martin:
Quote from @Ken Boone:
Quote from @John Carbone:
Quote from @Ken Boone:
Quote from @John Carbone:
Quote from @Michael Baum:

I would also begin to wonder if this is something systemic with the area. In the greater Sedona area, water can be hit or miss.

There are some areas outside of the Sedona area that look like great opportunities until you find out that their aquifer is drying up and water will no longer be available.


 That’s what I was kind of getting at here. I’m hearing this more and more around here. How do you protect yourself even on a “turn key”, do you just lose half of your investment when the water runs out and can’t be brought back?

No I think you gamble and drill another well or go deeper and pay the price. 
And what happens when the gamble doesn’t pay off? 

 I think you will eventually hit water just may have to pay more and go deeper in that area.  I don’t think the gamble is whether or not you will hit water.   The gamble is in how deep you have to go and how much is that gonna cost.  But I would definitely be talking with the well drillers as they have a pretty good idea about most areas they drill in where the water is and the typical depths they have to go. My comments are only concerning the southeast don’t know anything about out west. 


 I spent many years in the water industry here. Wells are notoriously tricky here in the mountains; because everything is solid bedrock you're never really drilling into underground aquifers/lakes - you're trying to hit seams where enough cross to keep your casing full of water. This is not easy to do at all and a lot of drillers just rely on experience and local knowledge about the likelihood of hitting a good seam. About 10 years ago we drilled two wells at a treatment plant about 75 yards apart. The first one produced over 200 GPM at 600 feet. The second one produced less than a gallon a minute at 1300 feet - essentially a dry hole. Add to that the fact that mountain geology is always changing - as the earth shifts the rock cracks in different ways, and wells can dry up in an instant as water finds a different seam with the new cracks.

Best thing they can try to do first is fracture the existing well - sometimes you can open the seams up wider and that solves your problem. If not, unless you have a decent sized property, drilling a new one is probably a waste of time and this place will have to truck in water or create a large cistern system. 


 200 gpm!   That is insane.  Never heard of having that much flow. The 1 gpm could work though although not what you want.  The reality is at that depth with a  6 inch pipe you have a lot of water storage.  

You are right about how finicky they can be. My neighbor gets like 32gpm at 200 fr and I get 2.5 at 515ft at my home.  They told me not great but you have the storage at that depth.  I didn’t know whether or not to believe them or not but I have had that well for over 20 years now with no problems running out of water.  Fortunately.    It’s still always a gamble though.  

Post: Smoky mountains dry well

Ken BoonePosted
  • Investor
  • Greenville, SC
  • Posts 986
  • Votes 1,180
Quote from @John Carbone:
Quote from @Ken Boone:
Quote from @John Carbone:
Quote from @Michael Baum:

I would also begin to wonder if this is something systemic with the area. In the greater Sedona area, water can be hit or miss.

There are some areas outside of the Sedona area that look like great opportunities until you find out that their aquifer is drying up and water will no longer be available.


 That’s what I was kind of getting at here. I’m hearing this more and more around here. How do you protect yourself even on a “turn key”, do you just lose half of your investment when the water runs out and can’t be brought back?

No I think you gamble and drill another well or go deeper and pay the price. 
And what happens when the gamble doesn’t pay off? 

 I think you will eventually hit water just may have to pay more and go deeper in that area.  I don’t think the gamble is whether or not you will hit water.   The gamble is in how deep you have to go and how much is that gonna cost.  But I would definitely be talking with the well drillers as they have a pretty good idea about most areas they drill in where the water is and the typical depths they have to go. My comments are only concerning the southeast don’t know anything about out west. 

Post: Smoky mountains dry well

Ken BoonePosted
  • Investor
  • Greenville, SC
  • Posts 986
  • Votes 1,180
Quote from @John Carbone:
Quote from @Michael Baum:

I would also begin to wonder if this is something systemic with the area. In the greater Sedona area, water can be hit or miss.

There are some areas outside of the Sedona area that look like great opportunities until you find out that their aquifer is drying up and water will no longer be available.


 That’s what I was kind of getting at here. I’m hearing this more and more around here. How do you protect yourself even on a “turn key”, do you just lose half of your investment when the water runs out and can’t be brought back?

No I think you gamble and drill another well or go deeper and pay the price. 

Post: PS5 VR2 Rental Option for Airbnb guests

Ken BoonePosted
  • Investor
  • Greenville, SC
  • Posts 986
  • Votes 1,180
Quote from @Gregory Boulet:

Hello Everyone,

I’m thinking about giving the option to rent a PS5 VR2 to my Airbnb guests. I mainly advertise to traveling professionals and it’s likely that a 50 year old traveling nurse wouldn’t be interested. However if I give my tenants the option I’m sure that a lot of them would like to have it. What I’m thinking is…

$35 a week for a PS5 or VR2, or $50 a week for both PS5 and VR2.

All feedback and suggestions are welcome!

Thanks,

Greg


I put Xbox in all my strs hooked up to a 10’ theater screen as an extra amenity to help set myself apart from others.  I don’t charge extra for it.  

Post: Smoky mountains dry well

Ken BoonePosted
  • Investor
  • Greenville, SC
  • Posts 986
  • Votes 1,180

So I showed my wife this and she pointed out the fact that it was just listed and they want all offers in today.  Sounds like they don’t want people to see what this cabin needs as far as repair.  The listing indicates work needs to be done which sounds like more than just a well and they don’t want anyone to have a chance to inspect it ahead of time to really know what is needed.   When things sound too good to be true, they usually are. 

Post: Smoky mountains dry well

Ken BoonePosted
  • Investor
  • Greenville, SC
  • Posts 986
  • Votes 1,180
Quote from @Michael Baum:

Looks pretty great actually. It is a risk but I would want to know the deets on the well. How deep is it? What was it flowing historically?

Any good well guy in that area could tell you if he could find water on that or near that lot.

It does say in the ad that the new owner would have to dig a new well, so it is possible...I guess...

Devils advocate - drilling a new well isn't that expensive so why didn't the owners just do that? Are they expecting a bidding war that might bring up the sale price to where it might be with a working water system?


The well drillers in that market started doubling their prices about 2 years ago.  Well drilling there is now around a minimum of 30k for a 500 ft well. Depending on the location some have to go 1000 ft and they will charge you by the foot.  It can get real expensive real fast.  

it is also a shared well for a reason.  Either it was already expensive to build so they wanted to share the cost or historically they knew they had hard time hitting a vein there. 

It could be resolvable with another well. It’s just a gamble. 

Post: Direct Bookings - Collecting Emails

Ken BoonePosted
  • Investor
  • Greenville, SC
  • Posts 986
  • Votes 1,180
Quote from @Nathan Gesner:
Quote from @Matt Owens:

Collect it at the time of booking. The easiest method would be to tell them you require an email to send them a receipt, reservation confirmation, house rules, etc.



 That is a way to collect but that is not acceptable to use in a mailing list unless you also have their consent for it to be used on your mailing list.   At least that is my understanding.