All Forum Posts by: Laura Casner

There's so much good info here! I have been wondering about the land size and if it is enough and been thinking I need to be on the land to know if it feels big enough. Also an interesting perspective on the size - I had the impression that they were not as common as they are maybe. I wonder how much style matters - I am planning to do something aesthetically that is not common in the area but definitely need to do a deeper dive into potential competition. I have also thought about doing each of the 3 unites in varying sizes targeting a couple, a family of 4, and a solo traveler given I'm trying to provide a retreat vibe. Has anyone completed a build? What did you feel you did right, and what would you do differently?

I'm looking for 3-5 acres to do 3-5 tiny houses (built into foundations) in the greater Knoxville area for STRs. Any advice on what to look for in land??? Any recommendations outside of MLS to search for land? Anyone build these types of units before and have any advice?

@Michael Smythe  This is something I knew with logic but didn't have the terms to support. Thanks!

@Mathios Yonan Thank you for the input!  Confirms my thoughts and that I'm on the right track. 

@Travis Biziorek Thanks for all those details!  It all confirms where my head is at. When you say "I generally use 20% for capex, maintenance, and vacancy" Do you mean you budget 20% total of gross rent or 20% for each??  I assume total and I think this is where I'm making a mistake - when bigger pockets calculators ask for all three of those I add 10% for each which might be why nothing is working out...  

I am deep in analysis paralysis trying to find properties in my local market that will cash flow at least a little bit for a combined buy and hold + cash flow strategy. I know the market is not what it used to be, but it seems like I can't ever come out ahead.   I have one property that was a house hack that I kept when I moved out of state. It cash flows but because it is recently renovated there is little to no ongoing maintenance and I know exactly what cap X category things will need done in the next 10 year. But I'm having trouble gauging other properties with these things in mind. Even if I scored a deal for waaaaaay under asking the numbers just don't seem to work. What's a good real world estimate for these expenses?

Secondly, I don't understand how the 1% rule is such a standard if it doesn't account for what the mortgage is. Am I missing something?

@Jake Andronico  Thanks for commenting. We will see how long it takes to get it rented out and then I will send you dm if I need lawyer recommendations. 

Thanks for the comment - yes it's the 2nd part that scares me... "collecting on the judgement..." I'm wondering if anyone here has done this successful and how arduous the process was.... ?

I have a long term rental in Lake Tahoe (NV side). We had a tennant for a year, who renewed for another 8 months.  Two months after renewing she said her company restructured and she lost her job so she wanted to move back to Wyoming.   We immediately listed the unit, but with winter fast  approaching it is very challenging to fill the unit.  She moved out and has stopped paying rent. It's my understanding that a Tennant is responsible for rent until a new Tennant is found. 

Does anyone here have experience pursuing someone for unpaid rent in this manner?  She was an executive level at a Casino and owns a home in another state so I am sure the funds exists.  How difficult is it to recoup those costs?

Hi!  I'm hoping to make it to this event after work, and if not, I hope to join the next.