All Forum Posts by: Chris Watson

For my Smokys properties I do not have limits or wifi thermostats. For my Florida beach properties it is ranged 68 to 78.

I have a large percentage of guests in the last three months comparing VRBO vs Airbnb pricing and they detest the large fee.  On one booking the Airbnb fee was $1,700.  What helps drive people to my direct booking site is people not happy with the outrageous Airbnb/Vrbo fee and then searching for a cheaper option.  I just did it myself for a place in Greece this summer for a family vacation saving almost 20% by booking direct. Since I prefer direct bookings I will keep the fee displayed. The mind shift needed for owners is that Airbnb and VRBO is no longer just a booking platform, but an advertisement to drive people to your direct booking website to become a first time guest.

We offer cable or Directv Stream packages (unlimited number of TVs streaming at one location/IP address) depending on the location/cable availability.  I would recommend people look at their nightly price point and target audience.  If I paid $150 or more a night I expect not to have to log in to my own accounts, and I expect a reliable TV service provided (I actually hate logging into apps myself).  I would probably ding on value for not providing reasonable access to college football (all of my rentals are in SEC territory). Eight of my nine rentals fall into this nightly rate category year-round.  I do have guests who still want to use their Netflix/Hulu/Disney+ apps even when I offer the top-of-the-line DirecTV Stream packages.  Therefore, I have gone to using Firesticks on all of my DirecTV Stream setups with instructions on how to access everything (Roku guest mode will not work for what I want to accomplish).

I had cost segs done on all my properties last year.  Due to them being in two primary locations the price was economical including the site visit.  Why all? 

1. It is cheaper to do all at once.

2. Just because it was done this past year doesn't mean I have to utilize it right away.

3. It gives my CPA several options when developing my tax filing strategy for each year depending on the current tax law environment.

4. I plan my tax strategy for +3 yrs out.  No need to worry about paying taxes if you plan properly. 

5. It also relieves the pressure to find "this year's" write off. I make acquisition or developments based on fundamentals not "needed write off/depreciation".

I have bought a place and expanded a septic in Sevier County, TN.  You need to know the septic system rules for the area and that lot specifically.  It was easy to do on the lot I did it on as it was subdivided in the 1980s and was grandfathered in under the rules for then. The lot next door was added to the subdivision around 2000 and goes by completely different rules.  If I bought what you are looking at, I would only buy it at a price in which is in line with how it is permitted.  If the addition is not permitted, I would run away. 

Costco, Sams Club, BJs, Minoan

Our kids' university has parent groups on Facebook. Parents ask all the time where to stay.  While can not make a post advertising you can respond to some one else's posts with a link.

The only time I stayed awhile in Amarillo was for a wedding at First Baptist Amarillo which is within a mile of this place.  Figure the parking out. I would also market it to all women's ministries at every church in the Texas panhandle to hold women's retreats.  They could become repeat annual guests. At $750 a night just weekends could bring around $70k a year. That could come close to covering expenses.

I highly recommend an attorney to draw one up as each state and each property can have unique issues.  I had a different lawyer for my TN and my FL properties.  When talking to my FL lawyer he stated any beach equipment or toys you have can be used as an avenue to sue if they get hurt with it, even if previous guess left them so he added a paragraph on beach toys/equipment.  I believe each contract cost $600 to $800 for each state.