All Forum Posts by: Jeff Gold

@Ryan Moyer some good points. Supply and demand. It’s all economics.  No one knows what’s going to happen next. From an investment perspective I’m find this area challenging to make a move as the sale price is at a place where after expenses it seems very little to chew on. Spoke to an agent today who says owners were paying 35% management fee! For me, 25% is max bit after mortgage payment and expenses I’m not seeing how’s your of these places are a wise investment…

Am I missing something?

@Luke Carl what’s better then working with drunk entitled people on vacation. LoL

I’ve always used a management company but I get your point. 

Thinking about switching my approach possibly to self-management in the although they more I think about it the less appealing it is as I don’t want another j-o-b! 

What’s your take on the continued upward movement of prices in Gatlinburg area?
Nice cabins are going 300-400/sq ft. How are investors profiting with a mortgage and overhead?

Just saw one this morning with multiple offers after being on the market a few hours… it’s 610k with no view and in a poa where they don’t even own the land! 

@Ryan Moyer appreciate the clarification. Yes, I totally misread it. I read it as annually instead of monthly. Will check my messages. I’m new to the community so still familiarizing myself with navigating the site. 

@Ryan Moyer totally agree. CoC of 5% on a deal May make sense to some and not foe others. Guess it depends on the target you are return to hit.

@Kyle Jensen good points. Sent you a message. Agree, return has to be there to make sense.

@Kyle Jensen finding good people can be challenging. Will let you know if I come up with anyone. 
Prices are inflated now

How much did you pay for place and what type of short term rental income are you shooting for?

@Anusha Udas

What’s the gross and net revenue generated from 3/3?

@Kyle Jensen does  the property need work to get it ready for short term rental or it ready to go?  Are you using local company or doing it on your own?

@Collin Hays yes, after expenses. 30 year mortgage. 
in my view, because the prices are jacked up the revenue would have to make up for it. If prices increase that’s great but at least the numbers annually would give me roi and I can decide down the road if I want to keep or flip it.

@Ken Boone agreed. Just checked and it’s already under contract in less than 48 hours. This is probably being rented out as a ltr my guess is and it has very limited upside as place is a very small apartment and will not appreciate exponentially so it’s not the kind of investment that I find very attractive. 

Could you give me an example of a place you have purchased recently and what kind of return you would consider as a minimum? Im always curious to see other people’s perception of what they consider profitable.