All Forum Posts by: Hanan K.

@Shahid Elahi Yes! I did. We just opened our doors last week. So it’s too early to tell how it will do but so far it’s doing ok. Not great but ok. I recommend getting something smaller and marketing to one to to couples or a small family. The rentals under 200/night do a lot better in this area. I think the market is over saturated with 3-4 bedroom places IMO.  You have to find a way to stand apart for sure. We also bought in the smokies and That one is killing it!

We are getting to a point where financing will be difficult as we have acquired many properties over the last 6 months. We are looking to partner with a friend who has the credit to get a 10% vacation home loan in her name. We would be 50% equity partners however we would not be on the loan. My question is this: Will we be able to provide the down payment for her? She would pay us back 50% of the down payment over the next few years... will we run into issues with lending being that the down payment is coming from another account and not hers? Any experience with this? TIA

I just hunted him down! https://www.facebook.com/north...

@Michael Craven Thanks for the recommendation. Trying to reach Yok Re!

@Emeline Hunter Thank you! Can you send me a phone number? I tried messaging him through the short term shop Facebook group but haven't heard back!

@Daniel Denning Thanks for the recommendation!

@Michael Craven One more question, do you have a realtor in the area that you recommend?

@Michael Craven Congratulations! We put an offer on a 3/3 in blue ridge this week. Offered 80K over with limited contingencies and were beat! The market is definitely hot. My question for you is how did you analyze your property? How were you able to establish the average daily rate and expected occupancy. When I look at calendars in Elijay, they look sparse. Blue Ridge definitely seems to be more booked but even with blue ridge, it seems it's only a month to six weeks out. Hard to gage how the market is performing. We have a cabin in Tahoe and a VR in Napa Valley. Both do amazing but we are moving to North Atlanta next month and I'm looking for VRs in that area. Thank you for your input!

@Joshua

@Joshua Strickland Thank you for the input! I would agree from what I've seen! Glad to know he is at 80% occupancy on a 2/2. That is very helpful :) 

Anyone investing in the Elijay/ Blue Ridge, GA area willing to share their experience. How are your vacation rental(s) performing (occupancy, average nightly rate) ? We love the area, but are not sure how the occupancy and return compares to other mountain markets. We were originally considering the smoky mountains but it seems the prices are through the roof there right now!