All Forum Posts by: Brett Shoemaker

Pull up Indeed, search for travel nurse positions in your area.  Write down all the agencies your search returns.  Call/email each agency that has a job posting about your housing available.  

The hotel industry isn't a fan of losing revenue from STR's in Nashville. Too many restrictions. As others have said, seek out established VR/STR markets.

HI all, my wife and I have owned and self-managed our 3/2 smoky mountain vacation cabin for the last 5 years earning more than $50k in gross income every year for the last 3 years. Recently, I've had a change of heart with short term rentals and self managing from a distance. While I love doing it, I equally loathe when someone messages about some issue that occurs during their stay. It's also gotten exhausting traveling to it to maintain it, keep it up to date, fully stocked, etc. We have a toddler and another bundle of blessings on the way. We bought at a down time in the Smokies back in 2017 after the fire and love the area and to visit, but we find ourselves dreading the short drive back into town as it's become less fun and more business. Because of this, we are considering selling our cabin that we've invested quite a bit of capital for improvements and updates. The question remains, given the current market and the claim that the Smokies are "oversaturated", would now still be a strong case to sell? To add some additional insight, we have the opportunity to take the equity from the sale, payoff our mortgage on our historic home we house hack as a MTR and add $50k of expenses back into our pockets annually without a mortgage. we are debt free with the exception of a small renovation loan and the mortgage itself. In relation to the $50k we'd get to keep, this is in comparison to the $30k net income we receive annually in rents from the vacation cabin. I'm not a math wiz, but If we own our primary home outright and keep the $50k a year we'd otherwise spend on expenses for it, instead of only earning $30k in net STR income, this should be a no brainer, right? Thanks in advance.

Without a doubt @Sarah Brown & @Erik Whiting said it best.

My wife and I are currently traveling, working, living nomadically fulltime in our RV chasing our financial freedom. We are 14 months into our 3 year debt free journey. We are both 36 years old and grew tired if the mundane and living a life “that you are supposed to live”. We had all the debt, living in a HCOL area, no car payments, made okay decisions financially, but we lacked TIME together. We both work in healthcare which is stressful and demanding. We had zero control of our schedules that often spiraled and left us without time to enjoy each other.

In the 1st 12 months, we successfully paid off $137k in student loan debt. In the last 2 months, we've established 6 months of an emergency fund while building out our retirement accounts. We have a savings rate of 65%. We have two properties (1 LTR & 1 STR VR). We self manage the VR and will be looking at add more in 2020.

Financial freedom looks different for everyone, but for us it simply means living a life we choose to live, working smarter instead of harder, more quality time together, maximizing our careers to work for us, and putting experiences on top of things. These are our “whys”.

To add my objective, I'm looking to purchase a cabin for a vacation rental and build an ADU as an additional rental on the same property as the primary cabin.

Hi all, Looks for some high level info related to Accessory Dwelling Unit possibilities and requirements for those in the Sevier County, Sevierville, TN and Smoky Mountains area. If anyone has a shortened bullet points of what's allowed/permissible with a reference guide of requirements, I'd appreciate any guidance. I've reviewed online, but my search shows discrepancies & mismatch information. I'm currently looking to purchase a small cabin as a vacation rental and adding an ADU to the property as an addl rental. Many apologies if this isn't the correct forum.

Hi all, Looks for some high level info related to Accessory Dwelling Unit possibilities and requirements for those in the Sevier County, Sevierville, TN and Smoky Mountains area. If anyone has a shortened bullet points of what's allowed/permissible with a reference guide of requirements, I'd appreciate any guidance. I've reviewed online, but my search shows discrepancies & mismatch information. Many apologies if this isn't the correct forum.

Hi Rick, I'm fairly new to this & have been reading and researching this similar option for the last week. Look up "Solo401k" or "Self-Directed" 401k. The Solo option allows you to be tax deferrable and in most instances you can with manage it yourself with checkbook writing or through some companies like Fidelity, they require a TPA/Custodian to help manage the documents for REI & things. There are companies (probably will have some individuals contact you on here) that can point you in the right direction. As I understand it, the self directed IPA is limiting to other assets like traditional investing, but not necessarily for REI. Good luck! Not sure if I helped much, but I think you'll want to read about Solo401k's.

Justin Windham George Blower Thank you. I did speak with Fidelity yesterday and I received all the details I needed.

Andrew Wong Also, the low supply was due to entire coastal towns being leveled with nothing but pillars or slabs left after Katrina. Any homes left standing were farther inland or homes that didn't flood. People looking to buy at the time didn't have the money or resources to build new and refurbish. Needed something to move into. So high demand for homes not flooded or completely destroyed which were low in supply.