All Forum Posts by: John Carbone

What is the best way to organize a 4 bedroom in the smokies? I’ve seen some just do 4 king size beds. It’s 4 bedrooms plus an office and game room, the office needs to be an office because it connects with the master bedroom. 

I was thinking king,king,king, and 2 bunk beds with a sleeper sofa in the game room to sleep 10. 

Any recommendations on what is optimal?

I think the problem with putting a dollar value of the risk of that happening is impossible for someone to quantify. You could  diversify your other assets as a “hedge” like short the home builders or buy oil. 

The properties in the smokies now are priced to perfection, assuming a best case scenario where Covid rally continues. If you bought 2 years ago or more, sure it’s wise to keep your holdings and collect your rental income, but it’s not a time to buy at these levels, it really can’t and won’t go much higher from here. 

How about insulation on a rancher with a quad plex? 

That was my thinking too, I think it would cost maybe 3k per unit and then probably 2k more in furniture since they would be separate room. Just wondering if anyone has data points on if 1b rents much better then a studio. 

Where are you building multi family in Gatlinburg? Yes, if you can scale out like that it will work. Most existing inventory being sold now is selling at a 10x revenue multiple though using 2021 rental income, which is up from pre Covid. 2 years from now you could easily be underwater just breaking even on your expenses, if your lucky. 

Currently rehabbing a quad-plex. They are all 500 square foot studios, but I could add a bedroom in each to make them 1 bedroom units. The layout is doable. Is it worth the cost to add the official bedroom? Looking for short term rentals in national park area.

I’m in the process of rehabbing a quad-plex for short term rentals. Each unit will be about 450-500 square feet. Currently they are all studios, but given the size of the rooms could easily put up walls to make them 1 bedroom units. Does it make sense sectioning off the units to have their own “official” bedroom or am I better off keeping them as a studio?

I’m looking at purchasing a tri-plex, which the listing agent says that each unit has its own deed. How will financing work for this? Could I do the fha loan?

It’s one building with 3 townhouse style “condos” all attached. 

You don't be able to do this. You will need 20 percent down, LLC, and a partnership.