All Forum Posts by: Charles Wade

For my first real estate investment, I am considering an existing STR that is for sale in Blue Ridge, GA. I have run the numbers using DealCheck and no matter what I do, the property shows a negative cash flow

Here are the potential numbers that I am using:

Purchase price = $380,000 ($19,000 below asking. The asking price is well above the market there)

Loan Amount = $342,000 (10% down)

Gross rent I used $150 per night with 60% occupancy (aggressive I know) = $4563 per month

Vacancy = $1825

Operating Expense = $681

Loan amount = $2050

PMI amount = $143

Cash flow is -$137

What am I doing wrong or is this just a bad deal? I am considering this cabin because it is very nice and is already a popular STR property. Appears to be true turnkey

Any guidance or feedback I consider a gift and would greatly appreciate

Charles

3 Votes

Atlanta, Georgia

Quote from @Leslie Anne Morris:

$180k or less down could get an amazing Smoky Mountain cabin!

I am interested in learning more. First time and having a bit of FOBO and uncertain on a market.

0 Votes

Quote from @Nikki Senopoulos:

https://docs.google.com/spread...

Hi - I know this is an old thread, but I'm happy to share the ss I created specifically tailored towards Airbnb's and monthly rentals. Allows you to tinker with occupancy, daily rates, various expenses, and loan assumptions. Since many STR's are seasonal, this is a monthly annual pro forma to analyze yearly NI. Everything you can change is in blue for ease. Anyone can feel free to reach out with any questions! Good luck!

@Nikki Senopoulos, Is it possible to get a copy of your spreadsheet? When I download it from your link above, it times out when I edit it. Assuming you need to grant me permissions

0 Votes

All Forum Posts by: Charles Wade

Charles Wade has started 2 posts and replied 13 times.

Post: First STR Purchase - Existing STR in Blue Ridge, GA

Post: Newbie investor! Advice? Suggestion

Post: STR / airbnb property spreadsheet