All Forum Posts by: Andres Rossini

wow thanks so much for all the amazing feedback everybody! 

I went back through all my numbers for 2024 and subtracted all the construction costs of improvements we have made and found quite a bit... so once I remove all that net profit looks like $110k. 

BUT I still understand the point that most people made, these are not concrete/stick built structures with conventional building methods, and it is owner/operator, and it's a volatile industry, and its 50min from the Gatlinburg hotspot, and the main house is a double wide, etc.

I guess my dream would be that an owner that wants to live and work in one place can buy this property, live in the main house and self manage the property. Our cleaning fees for the year were $40k, landscaping $2.5k, handyman $3k... all tasks that can be done by an operator and off set the loss of income from occupying the main house that brought in about $40k for 2024.

My wife and I have decided that even though it makes good money, we have been in Texas for a year and we want to do something similar here and we are very much DIY people and don't want a PM company to run it to the ground. So we are lowering the price to the $800s so we can get some attention.

Thanks again for all the help and honest feedback... even the super honest feedback haha

 Hi there

-yes I say we built it because we bought just 4 acres with a 1994 house that needed work. We gutted the house and then started building all the tiny homes, extra septic and power, parking lots, animal corrals, etc.

-appraisal will go up but this rural county is as cheap as it gets. Right now we pay about $200 per year

-Thanks for your feedback, we like what we built.

-guests tend to love the property and they do say its unique and a very nice experience. airbnb link to my profile below, scroll down to find all 6 listings.

https://www.airbnb.com/users/show/423988383 

Thank you Chris. Our agent has been letting us move the price since STR properties are not his specialty, and there is not many properties with multiple tiny home STR for sales to comp it with. So as usual, I come to the BP community for wisdom and absolute truths haha. Thanks for your feedback

I like your simple approach, I agree with that. I do not have a BPO since there are no real comps. We were going more with cap rates for RV parks and hotels. Hurricane Helene prevented us from hitting $200k revenue this year since the interstate got shut down for major repairs and tourism traffic suffered this last couple of months which are always the best months.

Thanks @John Underwood

I have been trying to sell the property my wife and I built (1 main house, 5 tiny homes, goat farm/glamping experience). But it's not selling, even while we offer seller financing. Is our price point too high? I would love some honest feedback to see if I am way off asking over a million for this property. 3 years since we started, every year gets better and 2024 was the first year with all units opened. $185k revenue. $100k expenses. No PM, we manage at a distance with a solid cleaner and handyman. I want to get it sold someday. Thank you in advance

https://www.zillow.com/homedetails/1541-Lower-English-Creek-...

I am looking to sell my 6 unit glamping property. I have prepared "Profit and Loss By Month Statement", "Occupancy and Revenue per unit per month", and a written down brief history of the property. What other information should I provide to build a professional packet for prospective buyers to analyze? 

I need some help on dissecting financials for this deal. The property is 4 acres with 5 tiny homes and 1 main house (doublewide). All of them currently listed on airbnb. 40 minutes from Gatlinburg. All of them currently listed on airbnb. Income for 2023 is most likely going to hit $100k. Expenses $28k (Excludes mortgage). Net income $72k. Everything was recently built and seems well maintained. They are about to list on MLS for $1million. If I look based on cap rate it would be a 7.2% cap rate. Is that good cap rate for airbnb? The interesting part is that I could buy it as main residence and live in one of the units and manage the property myself which would make a mortgage a lot easier... But I don't know how the bank would react to a $1million value for tiny homes. I would love seller financing but they want 40% down and I can't do that without getting some other loan. Thanks for any help