All Forum Posts by: Mark Berardi

Hey John - I appreciate your initial reply. I wanted to check back with you after some time to see how’s the gatlinburg market now? I see some cabins with a pool. Do you have any experience with an in house pool? 

I was wondering how the Gatlinburg market is these days? I see lots of cabins for sale but I’m concerned if the market is strong. I would appreciate any feedback from people who own property there. 

that is a beautiful cabin! Thank you for sharing.

Thank you for that. 

I am scheduled to close on a property here locally in the next 1.5 weeks. After that, I need to find some time to visit the area. The last thing I want to do is waste your wife's time, but if she has any properties that she would recommend for STR, I would be interested to see them.

Hello Neil - 

Thanks for the great response. Your properties look fantastic...very appealing! Well done on the photos!

It's good to hear firsthand experience on the Blue Ridge area. The properties look very attractive on-line, and prices seem to be a bit below Gatlinburg. I just wasn't sure if the area drew a lot of visitors. I guess next steps for me would be to find time to visit first hand and look at some cabins.

Thank you again.

All - I like the properties I see in Blue Ridge GA. However, I don’t know the area very well. Can anyone with property in Blue Ridge share their experience with the income generated from their property there? 

I'm not sure...there may be some accumulated losses to carry forward but it wouldn't be much. 

I sold the TN property for $1.85M. Depreciated cost basis was about $390K (Original price $580K). Closing costs / commissions were about $120K. I roughly estimated capital gains of ($1.85M - $390K - $120K) x 20% = $268K. I know this is a rough estimate.

New property in OHIO has about $250K in improvements that qualify for accelerated depreciation. Therefore, I was hoping to only owe about $18K or a bit more in capital gains for the TN property sale.

    In 2022, I sold a multi-unit property in TN. Also in 2022, I bought a rental property in Ohio. Can I use accelerated depreciation on the new Ohio property to offset the capital gains on the sale of the TN property?

I appreciate everyone’s feedback. Thank you for your time and for sharing your experience, suggestions, and knowledge. 

I have several multiple family properties that have gone up in a value a lot (IMO). Is there a legit formula or equation people use to determine when is the best time (or makes the most sense) to sell? Thank you!

Ex 1: 20 units Knoxville; Purchased $570K; Owe $350K; Local Broker thinks $1.6M may be possible.

Ex 2; 6 Unit in Indianapolis; Purchased $310K; Owe $187K; Recent RE Agent MKT Analysis = $700K.