All Forum Posts by: Mark S.

@Bill Brandt Absolutely correct! Thanks for providing such a clear, concise summary.

@Duane Gunkler In addition to all the other expenses mentioned, you have state, federal and FICA taxes. By the time you add everything up there isn’t a lot left on $20k.

@Mark S. She, not he

@Bob Stevens That response is really is of no help to someone who is relatively new to purchasing real estate. He obviously doesn’t hav a team in place and is trying to determine what he may be dealing with.

@Carlos Ptriawan That won’t help if the property was underinsured. Unfortunately a lot owners do not keep adjusting their coverage limits as replacement costs go up.

@Bruce Woodruff And take whatever your rehab number is and increase it by 20% because you WILL run over budget.Don’t forget to include holding costs (although those may be minimal in this situation)

@Collin H. I certainly wouldn’t be purchasing a ‘look alike’ cabin in a Smokies development where they are side-by-side. Nothing to make them stand out and believe those will be the last to book, if and when they do.

@Collin H. Same here. Premium cabin priced right is doing well, look-alike but very well appointed and private is down about 20%.

A lot of people have been mislead and have been convinced there is great wealth in STRs. There was - up to a couple years ago.

@Donny Frusciante Not a rude question at all. You may want to talk with several advisors from

different disciplines - an experienced CPA, a financial advisor you can trust, etc. Make sure they understand you financial situation and goals. Then balance out what they suggest and see what feels right. And if nothing appears clear to you, take a conservative approach, rather than aggressive. You don’t want to do something that gets you into a spot you have trouble recovering from. That is for people who have a much higher tolerance for risk than you may have.

And there it is - advice from another stranger on the internet!! 😊

@Donny Frusciante Do NOT take advice from strangers on the internet who know nothing about your personal financial situation or goals. It is irresponsible at best for someone to say ‘ you should …..’ without knowing your entire situation, unless perhaps suggesting to be very conservative if you are an uneducated investor.