All Forum Posts by: Cody Z.

After Photo

Investment Info:

Single-family residence buy & hold investment in Pigeon Forge.

Purchase price: $408,000
Cash invested: $100,000

Short Term Rental purchased in Pigeon Forge, TN. Full Rehab 6 months into purchase using HELOC due to lack of performance. Good base hit but not a home run.

What made you interested in investing in this type of deal?

Was already finding success at the Jersey Shore in STR's and wanted to expand to a different market. Heard a lot of good things about the Smokies so went there.

How did you find this deal and how did you negotiate it?

Using a Short Term Shop Agent and typical on-market process.

How did you finance this deal?

Vacation Home Loan (10%) and Rehab through HELOC

How did you add value to the deal?

Rehab included repainting paneling, cabinets, new countertops, doors, hardware, fixtures, master bathroom, furtniture, etc.

What was the outcome?

Property is performing "okay" and is starting to cash flow but many factors are at play (high gas prices killed tourism, new listing so needed to build trust through reviews, learning market-specific nuances like min night stays, etc.)

Lessons learned? Challenges?

Make sure that you understand your market and be intentional about your investment. Don't take anything an Agent or other investors say at face value alone - do your own research and challenge what is said to you, always. Also, recognize that all investments are not home runs so keep your expectations and underwriting in line with that simple fact.

Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

I would recommend Luke and Avery Carl's Short Term Shop Real Estate Agency. They are wonderful people and have built a great community.

Definitely would not be putting 40% down to make it work - cost of capital to get into 1 instead of 2 is too high.

 Hey John,

I use @Nicholas Aiola as my CPA for my Short Term Rentals and also have used @Yonah Weiss for a Cost Seg study. I recommend both!

Ticket is purchased. See everyone there!

Hi!

Just wanted to test to see if anyone can see these local forum posts anymore after the update?

You should definitely go... as long as you'll take action with what you learn.

Always good to see youngsters focused on wealth building!

@Account Closed Welcome to Real Estate investing! I think a great first place to start would be deciding what you would like to do in Real Estate (e.g. Wholesaling, Flipping, Small Multi-Family, a House-Hack, Commercial, etc.). I'm sure that you'll probably think "I have no idea..." which tells you that you need more clarity in your investing goals.

When starting out, in my opinion, it is best to pick one strategy, learn a decent amount about it, and put it directly into practice while you learn. This will keep you engaged, motivated and making forward progress until you "finally" get your first deal done.

Wishing you all the best on your journey!

NJ Real Estate Company currently doing wholesaling, rentals, short term rentals and flips is looking for someone to come onto an unpaid internship with the potential for paid in the future. Candidate will be responsible for developing and maintaining the company and owner's social media channels/content to increase traffic, brand awareness and engagement amongst different audiences. Please reach out if interested.

 Hey Veronica!

Shoot me your email and I will do the introduction.