All Forum Posts by: Michael C.

@Sofia Sharkey

I’ve also found AirDNA to be inaccurate. One important item to know is many of these websites ‘scrape’ data from Airbnn, VRBO, etc using automated program. The analysis is inherently inaccurate for many of the reasons others have stated and I won’t repeat. We’ve found two solutions - 1) find local operators and ask how their properties are performing. You’ll be surprised at how people are willing to help and 2) find a data provider that using ‘first party data’ to generate rental estimates. Keydata provides this service. It’s more expensive but I’ve found it to be much more accurate.

I hope this helps!

Totally agree with Justin here. Although the area has experience massive price appreciation over the last 5 years, if you look at Colorado or California, you can see there is still plenty of headroom in the Smoky Mountains (Gatlinburg, Wears Valley, Pigeon Forge, Sevierville) especially when properties are generating double digit cash on cash returns.

We purchased a few cabins in the Smokys and are looking to buy more. Inventory is very low so it's a very competitive environment. I put together a brief presentation for friends and family who are also looking to buy a cabin. Hopefully you'll find it helpful in your research. 

Have you checked out Visio? They work with short term rental operators - 

https://www.visiolending.com/ 

Another vote for Rich Dad Poor Dad on mindset. Making your money work for you is such an important but undertaught topic in financial literacy. 

On Real estate specifically, I found these two books very helpful -

• Investing in Duplexs, Triplexes, and Quads by Larry Loftis
• Buy and Hold 7 Steps to a Real Estate Fortune by David Schumacher

Good luck!

Hi Essien - Congrats on your purchase! Airbnb is great for cash flow and living for free (or near free) is an amazing superpower. The ability to not pay for housing (~40% of monthly income) really frees you up to pursue new opportunities and take more risks.

On NOLA, we analyzed the market 18 months ago and it was very attractive. We had an investment in Domio, which had an amazing Airbnb/Hotel - the Baronne St location. However, there are (were) a number of new regulations and restrictions on short term rentals which dissuaded us from investing in the market. We decided to invest in the Smoky Mountains instead (Gatlinburg, Pigeon Forge, Severville).

Best of luck!

I created this brief presentation over the weekend for some of my friends and family here in New York that are interested in buying cabins in the Smokys. I hope you find it helpful.  

@William Eric

Hi William. I’m curious to learn more about what you found. The inventory is so low right now; it’s really smart to create your own inventory by developing.

@Wala Habiby

Congrats! A cabin for 130k all in is an amazing basis in this environment.

Agreed with David's comments. We've analyzed many of traditional vacation rental markets in the US and the Smoky Mountains (Pigeon Forge, Gatlinburg, Sevier County) offers a great combination of a double digit cash flow, equity appreciation, and a stable regulatory environment. I hope you find it helpful and best of luck on your purchase.

I agree with Daniel's comment above. The cabin prices in Smoky Mountains (Pigeon Forge, Gatlinburg, and Sevier County) have increased dramatically given the influx of new investors attracted by the double digit cash on cash returns, equity appreciation, and a stable regulatory environment. 

We really like investing the Smoky Mountains because the last thing you want to do is buy a property and have the laws change on your which limit your ability to execute your business plan. 

I hope this help.