All Forum Posts by: Jeremy England

Sounds like it may be expensive Getting all those new permits and inspections. Just depends on how much you are paying for the property to begin with. As an investor, and not an owner occupant, you may also be required to hire a GC if any structural changes need to be done in order to get the property where you need it to be. You say there is not enough height in the ceiling, could mean you need to create height. Means paying to have the roof altered. All things can be corrected with money, so it just depends on what kind of deal you are getting. 5k won't cut it.

Correct my max is 3% sellers concessions, seller is willing to cut 30k off the price we agreed upon originally but still uncertain as to how much everything will cost once permits are pulled

Id start with contacting a gc and see if you can get some hard numbers to work with

1 Vote

Quote from @Drew Smith:

3 - Gulf Shores (AL), Orange Beach (AL), Pigeon Forge (TN)

Agree wholeheartedly with the above advice on just jumping in. You will learn soooo much more once you get into the weeds on setting up your property, guest/cleaner communication, etc.

A couple nuggets:

I'm glad we purchased a smaller cabin in the market that I didn't know (great smoky mountains) as it's occupancy is much higher and I have a pretty good idea of what income will be each month.

Our 2nd beach condo is across the street from the beach without beach access (you have to drive or walk .25 a mile). I wish we would've saved up and bought directly on the beach. Our 1st is directly on and it crushes.

How did you purchase 3? Like what kind of financing? Down payment? Or did you pay cash? Congratulations on your success

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San Diego, California

Quote from @Brittany Stradling:

Quote from @Jeremy England:

I saw this and wanted to ask how its going? Are you getting the income you thought you would? Any unforeseen expenses?

People are being pretty respectful of the space. No crazy expenses, but it is an older space and needs renovated so my cleaner keeps me updated with what needs to be done which feels pretty frequent. My occupancy is great. Income is nice but a little under what I expected. I need to work on my pricing a bit but I get nervous because of the airbnb and bust noise in the news. I'm still unsure of how high I can charge without it impacting my occupancy rate. I was told charge lower and increase prices as I get more reviews, so I'm not too upset about the income being lower than expected.

Thanks. It is quite expensive. I want to purchase one, i have the same concerns you do.

Is this your first str? Any books you would recommend on the topic?

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I saw this and wanted to ask how its going? Are you getting the income you thought you would? Any unforeseen expenses?

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which city in east tn? How did you find the deal?

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What did your 2022 numbers look like? Ive heard from others vacancies going up

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Sounds like an unethical deal. Her family will probably take legal action. I would.

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Ive also been looking in Blue Ridge. Pricing seems to have appreciated even more than other markets. Like 300 pct increases from 2019-2020

Although from what i can tell they are coming down. But will they come down enough to make it a good investment? Time will tell

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A gc can be a home builder. But a home builder cant be a gc. Depending on which state you are talking about. In the REI space they use the term GC synonymously with builder.

A gc can build apartments or commercial buildings. But a home builder can only do sf or small multi fam

Some states have very little Requirements to get a builders license. Others have strict requirements like Florida.

Kb homes is a production builder. They arent any different from Any other licensed builder just do alot more homes at once

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Austin, Texas

All Forum Posts by: Jeremy England

Jeremy England has started 21 posts and replied 278 times.

Post: Rehab done with no permits!

Post: Rehab done with no permits!

Post: How many STR do you have and what have you learned in your journey?

Post: STR Smoky Mountains

Post: STR Smoky Mountains

Post: smoky mountains cabin

Post: Smoky Mountain STR (3rd investment, 1st STR)

Post: Deal of a lifetime - Bought from ailing elderly neighbor

Post: Blue Ridge experience?

Post: Average Home Builder Commission?