All Forum Posts by: Joshua Strickland

Hospitable(messaging), Pricelabs(pricing tool), Stayfi(capture guests emails), touchstay(guidebook), ring outdoor camera

Honestly, I’d happily pay a premium to stay within walking distance of downtown Gatlinburg. Parking is a headache and Mountain View’s are a dime a dozen. I’m jealous of the river view.

3 rules of real estate: Location, location, location

Every time I start to think this market is tapped out it surprises me.

It’s a valid question that no one knows the answer to. Like you mentioned, my PCB condo has doubled in value since last year. (I thought I was overpaying at the time.) 

Also depends on if you are buying all cash or with a loan. We know rates are going up so at an increase in rate, values could fall significantly and you’d still have the same payment.

For example: a $700k condo w/ 20% down at 5% - principle and interest payment would be $3,006.20. If rates go to 7.5% that condo could fall all the way to around $537k and you would still have the same payment. About a 23% decrease in price which in historical terms is a big crash.

Pick your poison. Have good investing principles with ample reserves and you’ll be fine. If not, you’ll get crushed.

Run your numbers based off annual revenue, not monthly.

Save profit from the busy season to use to pay your mortgage in the slow season. Example: I’ll make $15k profit off my beach condo in July, but I’ll loose $2k in February. Numbers still work annually.

Mike Sutton - https://mikesuttonjr.com/

Harrah’s Cherokee casino is just up the road and Great Smoky Mountain Railroad is a draw. They do a Polar Express ride close to Christmas which brings a crowd. It’s the quieter side of the Smokies.

Play around with your minimum night stays and pricing on weekdays versus weekends. A two night minimum with increased weekend pricing can net you just as much as a three or four night minimum and you’ll show up in more searches on Airbnb and VRBO

Strategy - self manage

Location - any vacation destination (for the most part)

Price point to gross $100k - $800k+
Price point to NET $100k if only putting 20% down - $2M+ probably 

 Local Facebook groups work best