All Forum Posts by: Conor Shinnick

That runway is only 40ft shorter than both runways at LGA and 200ft shorter than DCA, which means any 737 or A320 that the low cost carriers fly will have no issues. I'm sure the major airlines would also enter the market with regional jets. For airlines, a terminal building and large parking lots would need to be built whereas a control tower is preferred but not required.

Airline service directly to the area would have nothing but positive effects for tourism, but I agree with the idea that nearly everyone will still drive there.

@Michael Baum That runway is only 40ft shorter than both runways at LGA and 200ft shorter than DCA, which means any 737 or A320 that the low cost carriers fly will have no issues. I'm sure the major airlines would also enter the market with regional jets. For airlines, a terminal building and large parking lots would need to be built whereas a control tower is preferred but not required.

Airline service directly to the area would have nothing but positive effects for tourism, but I agree with the idea that nearly everyone will still drive there.

@Kyle Parks  check out Visio Lending. Host Financial is a broker that will quote you a loan from Visio (possibly among others) along with an extra layer of fees for themselves. Cut out the middle man and save.

Our cabins are located in the Pigeon Forge area. We had a bunch of cancellations in March, but I was able to rebook at lower rates. Since mid April I have been raising the rates after any cancellations and we have had +90% occupancy. Prices have appreciated significantly since we bought just two years ago, so your initial investment will be higher. Avery Carl runs The Short Term Shop real estate agency if you are interested in the area. 

@Tj M. We net just short of $200k with our two short term rentals. We put down about $250k plus some rehab costs.

We live on the largest lake in our state and there are many STR's in our neighborhood, but we started long distance and are going to stay that way because we are seeking the best returns. We would also rather make maximum returns and vacation wherever we like rather than earn lower returns in our favorite vacation destination.

Don't be concerned about the distance. Be more concerned about buying in the best market possible. The communication and management will all be through VRBO/Airbnb whether you are near or far. All of the knowledge that you need can be found within this group or market specific Facebook owner groups. You can even find a realtors (like Avery Carl) that offer complimentary education (with Luke Carl) as part of the purchase.

There are just too many variables to answer that question. I believe that a place like Pigeon Forge will have higher occupancy than a beach location. However location, pricing, decor, views, and many other factors can make even neighboring properties produce drastically different returns. Also max occupancy does not necessarily equal max returns. I'm sure that Luke Carl will be along shortly to prescribe his ENEMY Method.

STR being more risky is not necessarily true. My first two properties are STR that we self manage from out of state and they are doing great. Don't worry so much about what kind of property to start with. It's more important to choose an investment that you are interested in and then find a great mentor (Lucas and Avery Carl for us!) to help you along. There will always be a learning curve to overcome, but a mentor shortens that time considerably.

Orange Beach/Gulf Shores is certainly a viable market to start in. Consecutive vs non-consecutive weeks of use isn't the issue. It's more of a total use during peak season concern. Candace is exactly right about use during the summer. Those months are critical to build reserves to carry you through the low season.