All Forum Posts by: Jim Stutzman

Hey @Matt Merriott. Ok, so there is quite a few things I see that need to be updated.

First, you need better photos. Frankly, they are terrible. Get some pro photos done. Many are blurry.

Before you do that, you need to get some more decor in there. The place really needs it. There is hardly any art anywhere. Very bland

Also, it isn't a lake property. It is 2 miles from the lake. You don't sell it like a lake property so that isn't a problem

Looking at AirBNB shows about 20 properties in the same area. I will tell you that AirDNA and others will not give a accurate result. There really aren't enough places to pull good comps.

From what I can tell $150 a night isn't that far off in the summer. There are other places cheaper and yet others more expensive.

So, you really need to update the house. More color, art etc. Get pro photos and post on AirBNB.

Thanks I appreciate it! If you haven’t already, be sure to view the STS’s “estimated returns” data for the area here and do a thorough analysis of the numbers: https://theshorttermshop.com/e...

My 2 cents on investing in BB? Right now I manage a one-bdrm cabin and 3 five-bdrm cabins in the area. Imo the absolute best investment in the area is a 1 bedroom cabin. Our occupancy is insanely high, meanwhile the larger cabins are very easy to book for weekends, however the weekdays sit empty on the big ones. And if you have enough cash to buy a 5 bedroom I suggest simply getting multiple 1 bedroom cabins. Plus the small cabins are so much easier to maintain since it’s mostly couples coming in and out.

5 mins to town & near water sounds like a winner to me. 

Are you working with an agent? These are good questions for a agent who knows the area.

Talk to Cathy Craig, she’s the local realtor there that works with the short term shop. She knows the ins and outs of the area very well. But that being said most of the surrounding area will be a good investment. Here’s a link to our cabin in BB check out the location, it’s south of Hochatown but we’re still killing it (on pace for $100k gross revenue in a 1 bdrm cabin):

https://abnb.me/0OpD5D0gNxb

Being directly in Hochatown is a plus I’d say, but by no means an absolute must.

My 2 cents @Jim Stutzman. Water is always a plus. Lake, ocean, river, creek...people love 'em.

The biggest issues I have been reading about BB is financing. Apparently there is some difficulty in getting mortgages based on location. Some lenders won't finance if it is too rural vs suburban. That is not a thing I have heard of before but there was a few posts about it recently.

You can't be everything to everyone. Some will love secluded, some want to be near the action.

Seeing as the area is known for getting away from it all to the country, I would suspect a more secluded location would do just fine.

Best bet would be to look at other rentals in the immediate area to see what they are charging for nightly rate, what their calendars look like and what amenities the offer. That will give you a good idea how to proceed.

I am also considering this. I think the market will continue to grow with the casino coming to BB. I think prices for cabins are softening likely due to higher interest rates. I feel like if I can buy right it should be ok. You could always refinance when rates come back to earth.