All Forum Posts by: David Gaudet

Do you have a particular go to strategy for looking for properties in the E. Tennessee area?  Being new I am extremely aware that I am currently monopolizing a lot of real estate agents time (around the southeast).  I would love to do as much legwork as I can, before approaching agents and brokers.  

@Chuck Kramer thanks so much for the suggestions.  I will certainly take a look at some properties in the eastern part of Tennessee.  One of the reasons we were targeting cities was we would prefer a condo or apartment.  We have three small children, and the less capital expenditures and maintenance to consider, the better.  Do you feel that there are still condo/apartment options in the Gatlinburg area?

After researching the variety of real estate investment options, my wife and I would like to purchase vacation rentals.  We are aware of the risks, but feel that the investment better suits are current needs.

We currently live in Raleigh and have been working with real estate agents in Asheville, Raleigh, and Savannah.  It's been difficult to navigate restrictions and recent legislation.  

Ultimately, we would love to spend $200,000-$300,000 to purchase a condo or apartment.  I am looking for location suggestions and any other advice people are willing to provide.

I am also looking at Savannah, more on the STVR side.  I know that has become significantly trickier as of late, but I am hoping that scares off potential investors.

Being new in this entire process, how much stock do you all put in the AirDNA algorithm? When calculating potential cash flow and ROI, I am using their 63% vacancy number, and I wanted to check if is in the ballpark. Also, I don't see a great deal of fluctuation between nightly rates for 2 bedrooms and 1 bedrooms. Since there is a significant difference in purchase price, does it make any sense to purchase a 2 bedroom. One final question (my apologies, this is my first post and I am not trying to hijack a thread). I don't see how a long term rental could ever cover the mortgage of a historic downtown Savannah purchase. Is that true, or should I be considering SCAD students as long term renters?