All Forum Posts by: Gary Dawson

You can't buy pay per view movies on Netflix.

Thanks to everyone for the advice and especially @Lucas Carl for the 2 hour phone call! Look forward to meeting you and @Avery Carl!

Hi there! 

Just about to buy my first vacation rental in the Gatlinburg/Pigeon Forge/Sevierville area. Have been pouring over properties as well as monitoring prices/bookings on AirBNB and VRBO. Very excited but want to really make sure I cover all the bases I need to before I pull the trigger. Have some questions...

Besides AirBnb and VRBO, do you list with other local sites in the area?

How do you interface with housekeepers to keep up with check-ins and check-outs?

Since I am managing out of state, do housekeepers inspect for damage and stolen items? If so, do you create an inventory list for them to check each time?

How do you deal with supplies like tea, coffee, sugar, snacks, toilet paper?

If you want to leave items for visitors like a welcome basket, how do you coordinate that?

If buying a property that has a great history of reviews, can you keep that history going on the STR sites so you are not starting from scratch to get reviews?

Any other advice that anyone can give me as to what other things need to be dealt with before going on the market would be appreciated!!

Great to know Dave! 

I am going out of towm for a couple of days but would live to hop on the phone next week to discuss my situation and how the numbers are going to work out. 

Thanks again for the safely advice!

I am planning to sell my rental house and 1031 exchange for several new properties. I was thinking that one or two of those might be vacation rentals. My question is, can I make improvements with the proceeds of the old house to the vacation rental including new floors, carpets, and furniture? Or would that have to be from money outside the exchange?

They seem to have some good properties in quite a few markets. Has anyone used them or know anything about them?

I am looking to do a 1031 exchange next spring... I am a little fuzzy though on the 3 property rule and the 200% rule. 

My selling property is probably 1.2 million. 

Total debt on property is 720,000

After commission and costs, lets say i end up with 240,000.

I'm looking at investing in some out of state SFR properties.

I'm planning on putting the entire 240,000 into several new properties. My first question is, whatever I buy, does it have to equal 1.2 million? OR as long as I put all the money in and carry 720,000 in debt, I will have no tax liability?

I'm looking into maybe some turnkey properties. Or buying and holding myself if I feel comfortable enough with my real estate eduction by that time.

Any help would be really appreciated!

Gary