All Forum Posts by: Joseph Shuster

Thanks for so much detail yea I agree! Glad to have all of you provide so much input and confidence!

This is really great insight, thank you. This property is in Sevierville (Shagbark).

Feel free to text me today and maybe we can find a way for you to help me out.

Although I can relate to this feedback quite a bit. I think just wait it out and slowly keep making improvements to the property.

It’s listed can’t find any buyers right now

Thanks all this is good insight I’m feeling the same about holding.

And for marketing to weddings we are trying but having trouble, any insight on that would be very helpful.

@chris of course I did. Plans only work until they don’t… due to a ton of unforeseen costs in a major renovation and revenue targets not hitting even our conservative metrics it doesn’t cash flow.

Chris, I recommend taking your questions elsewhere. You’re not helpful.

As you should be a disciplined investor. There is major value add potential on the land itself with more amenities to build. 

It would move immediately at 1.89M. Going to see if I can get over $2M for a bit first though. 

Someone that can come in with high % equity (maybe 1031) it would be great long term and short term cash flow with a lower loan amount.

I’m in the realm where I can afford it not a big enough dent where my life is being changed at all really. So it’s not a big deal. 

$1.45M loan on a $2.2M property at 7.125%

Trevor, we've thought of wedding venue. Do you have any experience with that? How do you go about marketing that?

WOuld love for people to have weddings there... it has a 5 acre beautiful grass field that can easily be used. 

Thanks all, only clarification is I’m making money in Summer, and apologies for miscommunication - I meant on average (annually) I’m losing 5-10k so realistically will lose $75k on it first 12 months operating (but created about $800k of equity).

That said, I think all the points still stand. And that’s with issues and that pop up, however it’s brand new so probably won’t have too many items to fix in short term.

Sounds like I should list it. 

Just started a few months ago so with more reviews I’m sure I’ll gain some more revenue but it’s high end luxury fully amenitized sleeps almost 30 people (so not much more value I can add that I can think of). 

Took out a bit more debt than I should have because my rev projections were a bit too high (at least for year 1). 

Prob losing approx $5-10k/month (on average)