All Forum Posts by: Daniel Green

I own a duplex in Wears Valley. About 20 minutes from Pigeon Forge. I highly recommend self managing. It's not that hard to do. We automate responses to guests Hospitable and we set automated pricing via Pricelabs. We set-up on Airbnb and VRBO. Jan and Feb are the worst months of the year. The rest of the year is pretty solid. I recommend getting professional photos of your property. I'd also join Facebook groups for property owners in the Smoky Mountains- there are a few of them. There are new new fire inspection rules that were just implemented this year which is probably why you got charged for it.

Any wholesalers in the Knoxville area. Please DM. Thanks

Well I don't know. I just GP invested in a deal in Tuscon. 80 Unit building. rents are below comps of buildings nearby. The apartments have not been upgraded but the structure/mechanicals are all sounds. We bought at a 5.2 cap rate. We are projecting a 5.5 cap rate conservatively in 2 years with fairly good upside in rent. So I think it's based on the property and fundamentals.

Kyle.

I recently bough a duplex and 2 cabins on about 13 acres on Wears Valley Road.  I would like to build another house on the property.  Do you like your builder?  Let me know if you'd like to chat..... I'm in Wears Valley now.
Dan

Still I find it weird that when I look at houses in the area for March and April bookings many of them appear to not have any bookings.  Perhaps I'm looking at it wrong or being paranoid but I am about to buy a brand new house 3/3 and wondering why the booking rates are so low at this point in the season especially when I hear people like to book early.

I'm setting up a short term rental property (2 studio cabins and 1 duplex) on Wears Valley Road near Pigeon Forge and in negotiations to buy a brand new constructions (3BR and 3BA) that will be complete in a month.  However as I do research on other listings in the area on AirBnB, it doesn't seem like much is booked in the coming months (March through Dec.) am I looking at it wrong or do people tend to book last minute.  It's a bit concerning.  Also concerned about the ramp time to get bookings in the door as I have to pay mortgage and expenses in the mean time.  Does anyone have an idea of the time to ramp revenues as well for newly listed properties?  Appreciate any help you guys can provide as I've got my whole family (wife and 

kids included) helping out....

Thanks guys.  Appreciate the feedback.

We're closing on our property on Wears Valley road this coming week. One duplex and two cabins. Anyone know the best option for internet access? We're going to stay about 3-4 weeks and my kids need the best internet to login to school and for me to work.  Appreciate any guidance.  Called up Xfinity but wasn't sure if they're any good.

Getting started in real estate is an emotional roller coaster ride that folks don't really talk about.  They talk about rules of thumbs (heuristics is a fancy term) for buying real estate but not the feelings in your gut.  The typical cycle is this:
- Look around at properties.
- Unsure/anxiety about whether anything is a "good" deal.
- Read a ton of blog posts- A lot with conflicting info.
- Listen to pod casts to try and figure out what others are doing.
- Feel insecure that you don't have enough money to invest in real estate.  Wonder if you should just play it safe and just do your 9-5 job.
- Consider other investments.  Maybe I should just play the market?
- Do nothing for awhile because life is busy and there are plenty of distractions.
- Watch T.V. at the same time you look at real estate listings.
- Float the idea about real estate investing to relatives who have no experience and they say it "sounds risky"
- Get back into your everyday life and after you know it, a few years go by.
- Consider short term rentals or maybe long term rentals or maybe buy land and build something or perhaps trailer parks are hot now...or maybe passive investing in apartment buildings?

At some point you have to take the plunge.  No investment is a "slam dunk."  You will learn the most by doing.  The trap I fell into was "analysis paralysis."  It's good to minimize risk so do a ton of analysis but at some point you have to trust your numbers and that odd are very good there will be no "disasters."

After you've looked at the numbers- worst case, best case, middle case- make a move. If you've done your research you'll likely not be off by much.  The first time you invest will help you build confidence.  Talk to people who have been in the space for awhile.  Real estate investors generally are happy to share.  Go to meet-ups (zoom meetings now) and ask questions.  I learned the most from other investors but make sure it's people who own real estate and not people like you who haven't done anything yet.  Out of any real estate meet-up 80% haven't done anything and 20% are true real estate investors.

This will take a bit of bravery.  Especially if you are investing a sizeable portion of your savings which is what most first time investors are doing.  It will seem like some crazy gamble but it is not.

Well I'm interested too as I had a similar idea. I want to put several tiny homes on a property and the rent them out as an AirBnB. The accelerated depreciation didn't occur to me but I think that would work. I'm not sure how much folks would pay for an RV park and I also would not be too sure how many RV parks would allow you to STR an RV. I would post on a RV forum and see what they say about it.