All Forum Posts by: Kurt Baltutat

Just purchased a 3/2 for a light fix n flip and considering adding a 4th small bedroom/office in the laundry room. The dimensions are 6'x11' with a small window and closet that takes up 3x3' of that space. I could move the water and gas line (for the water heater) to the other side of the wall which is the garage. I know some ladies will love the indoor laundry...but they may also love an extra bedroom or office more? There are not many 4 bdrms in the area. and the jump to a 5 bedroom is about $100k (TN). Thoughts?  Thanks!

Great discussion all! Does it make any sense to simply convert your MTRs to LTRs over a year or so as you want to pull out equity? Bank the higher cash flow until it makes sense to refinance and then convert to LTR to make the bank happy?

All, this is likely an easy one, but I am not seeing this spelled out in all the posts I have read so far.... I just want to confirm that the bank holding the mortgage would allow the property to be sold or lease-optioned to a buyer. I want to know if this is an option if I arbitrage with a landlord owner and down the road decide to make an offer to buy it without bank financing (no W2), would lease option be an option or should I do a wrap, etc. Thanks! 

New host-In an effort to fill my calendar and get reviews I am starting with aggressive pricing (using Pricelabs and Base price of $505). However, my ADR on VRBO is showing a default price of $699 (until you enter dates), defeating my low-price strategy when a guest scrolls by my listing. My ADR for the next 2 months is closer to $540. Anyone know how VRBO calculates the ADR (3 mo./6mo/12 mo avg) or how to change it?

Agreed. Our cabin has a bit of your strategy and Robin Simon's: Luxury and in the Smokies. I just see a ton of folks jumping into the STR market and may not be thinking about the part of the cycle we are in. Sorry to say, but anytime there is this much FOMO for something, many that didn't buy right (financing, uniqueness, etc.), could wash out in a few years. I am excited about this space, but don't want to be one of them.

 Thanks Chase. I'll dig into the forums.

How are you Super and Angel Hosts thinking about the next 3-5 years? I follow many well-respected economists and am convinced a recession is coming (or is here) and the questions are how long and how bad. I know the smokies weathered the 2009 crisis quite well based on park visits and other data. But how do you think a recession and potential job losses, etc. will affect STRs? I have one and am planning on getting 2 more in the next year, but don't want to buy into a 30-40% occupancy market. Thanks for your advice!

Thank Michael for all the detail. I will pass this on to my bride. We have a few good options now!

Thanks Luke! You are up early!