All Forum Posts by: Joshua Strickland

@Jason Fitzwater do find guest care more about being closer to the town of Blue Ridge and attractions like Mercier’s Orchards, or is Cherry Log/Mineral Bluff/etc. area still good?

I wonder if splitting properties into multiple LLCs would solve this? Possibly do a quitclaim deed to transfer properties into individual LLCs that way even if you sold and made a cool $250k, etc. it would be under the $400k max and keep the long term capital gains tax rate. (I’m not a tax pro though, so maybe that doesn’t make sense.)

@Account Closed where I am now looking for something at PCB and can echo the same types of concerns. I don't think there is a wrong answer between the 2 markets. The first doesn't have to be the best deal, just don't let it be the last!

@Dustin Turner I am set to close on my first STR in Pigeon Forge next week and planning to buy more barring any unforeseen circumstances. If the data provided from the seller and airdna are correct I will be looking around a 30% CoC return and potentially a lot more as I ran my numbers conservative. When I was looking there were a lot of over priced cabins, but the good returns are still out there. If you find one that looks right, just ask the seller if they will provide their rental history data and ask how it was listed. Sellers seemed fine with giving out that info and if they had it listed with one of the local companies like Cabins USA or another local property management company and not on Airbnb/VRBO then it could likely be undervalued in nightly rate and/or occupancy.

Welcome to BP @Sonya Serna. I am from Athens, GA as well and am new to BP. This community seems great so far! Let's connect!

@Brenden Mitchum You have a good point. I should probably at least have the conversation with my tenant. Unfortunately without letting them know up front I'm not sure the conversation of raising rent 15-20% will go over well. Definitely learned my lesson on this property and will always make it known to future tenants that rents can, and most likely will, increase on a yearly basis.

I haven't previously checked meetup.com. Thanks for the reference to this site!

Hi @Brenden Mitchum. I would typically prefer to HELOC or cash out refi, however the numbers would not work for this property if I did so. It is slightly under market rent. Rookie mistake of mine, but my current tenant has lived in it without missing a payment for the past 5+ years and takes excellent care of the property so I haven't increased rent. If I were to HELOC or refi @ 75% LTV I would have a slight negative cash flow on the property. Cash flow is my current goal so I can hopefully get out of the corporate world in the next 3-5 years.

Do you know of any meet ups in the Gwinnett Area? I've been to one in Athens, which I really enjoyed, but the way Gwinnett County is growing it seems like the place to be!

Hi Everyone,

I am a new BP member from Athens, GA. Excited to be part of this community and get rolling with REI. I currently have 1 SFR rental in my portfolio and am looking to add more. (Especially anything that would allow me to BRRRR!) I currently work out of Atlanta in the property development department for a large car rental company (Enterprise), and recently while negotiating a deal with an investor realized I should be sitting on the other side of the table.

I look forward to connecting with other RE investors, agents, wholesalers, lenders, etc. in the northeast GA area. Mainly interested in Clarke, Jackson, Hall, and Gwinnett County.

I currently have 1 paid off rental property that I am looking to sell in order to reinvest into multiple other properties. Mainly looking for SFR, but not opposed to cash flowing multi-family. My wife and I are also looking for another property to house hack in the Gwinnett County area.