Let's talk recession
Friday, April 08
Recession. The dreaded "R" word. We are already entering it. And by the time the Fed calls it, we will be a quarter or two into it. The Fed is always a "day late and a dollar short." By the time they pick up the clue phone, it has quit ringing. The fundamentals of our economy require that ...
ARE YOU PLAYING RUSSIAN ROULETTE?
Monday, April 04
Well of course you aren't, not knowingly anyway! But take a look at the declarations page of your insurance policy, and you might found out that you are! I have written about this before, but with last week's fire, I think it is important to revisit the subject. If you purchased a property in th...
Beware the hidden fees of your Property Manager
Monday, March 21
Being a property manager myself, it is embarrassing for me to have to point out some of the unscrupulous business practices of this sector. Folks who don't have the time, interest, or energy to manage their property should be able to count on some straightforwardness from property managers. I ...
Risk Management for the Self Manager
Thursday, March 17
When you take the self-management route with your vacation rental, your goal is to retain more profit by “sweat equity”. You are acting as property manager. This is the path to the highest level of profit, provided that you have TIE – Time, Interest, and Energy – in managing your property. An o...
"We've been sued!!!" The three most dreaded words
Thursday, February 10
If you own a vacation rental, there is a small – yet still decent – chance that you will be sued by a guest at some point over the years. Accidents can and do happen in and around vacation rentals. Over the years, I have heard of the following in the Smoky Mountains, a couple of which have bee...
Real life returns in the Smoky Mountains
Tuesday, February 08
I'm hearing a lot of hogwash about what cabins in the Smokies will generate in revenues, and I am afraid that investors are making buying decisions based on an unhealthy helping of irrational exuberance. The old "overpromise, under-deliver" scenario. Trouble is, there's real money involved. As ...