All Forum Posts by: Mike Sebastian

I had a similar one in Ellijay. There are so few affordable long-term houses in those markets that I was able to turn it into a "by room" long term rental and it's doing better than STR ever did. I just left it furnished to increase the LTR revenue a little bit. Might look into that.

1 Vote

Gatlinburg/Pigeon Forge, Tennessee

Just make sure they're vertical rails, not horizontal. Lot's of insurance companies don't allow horizontal anymore.

0 Votes

Upstate New York, New York

100% a good idea. We have one at almost all our cabins. Just launched one on a cabin we've had for months and it's 30% higher ADR with higher occupancy than it's ever had. I also discuss this in a free call each Monday/Friday that I host about STRs. DM me if you're interested to dive in deeper.

0 Votes

New Orleans, Louisiana

Hi all, I'm looking for the best RV park reservation systems. Can you share any recommendations?

1 Vote

Spokane, Washington

Quote from @Dave Rav:

BP just featured an excellent article by Paul Moore regarding this. Intersection of interest rates and cap rates.

https://www.biggerpockets.com/...

This is a great article, thanks for sharing!

1 Vote

Quote from @Joseph Matsushima:

Hello Investors! Is anyone interested in showing our their cash flowing properties to the BP Community? Our BiggerPockets YouTube team is going to be filming tours of cash flowing properties with real estate investors (Think ‘Deal Deep Dive’ but on camera) in 2023 and we want to feature YOU and YOUR property.

This is a great opportunity to get your name out there to the real estate community and potentially earn a guest spot on one of our podcasts! If you’re interested — or know someone who would be interested, please fill out this form and we’ll reach out to you for next steps!!
https://docs.google.com/forms/...

I'd love to be a part of this if you're okay doing it on STRs.

0 Votes

Quote from @Aidan Richard Connly:

Hello BP! I have the vision to create tiny home communities and am looking for those interested in the same thing! While I understand the laws are inconsistent from state to state, I believe it is a problem that if solved, could be a huge opportunity in the future. Please let me know if you are interested in Tiny Homes too so we can chat more! All the best!

I've been working on a project with this for 2 years. Lots of research done & am in the process of closing on an RV park that has space to expand this. I'd love to chat more.

1 Vote

Quote from @Sawyer Scott:

Hello Bigger Pockets. I am attempting to get a deal under contract for a mobile home park, however I am struggling with how to evaluate it.

Using the standard MPH evaluation formula found in the BP forums prices the property extremely low because it is not currently profitable. I asked the realtor if the seller would consider an offer significantly lower than asking and he laughed and gave me the classic "hell, I'd buy it myself if it was priced any lower!"

I know he's got it priced high and when I asked how he got that number, he just said he "knows someone will buy it for that price" I know the seller is in danger of foreclosure soon as well.

The problem is this specific MHP had horrible management coupled with a natural disaster that hit the area a few years ago causing homeowners in the area to move away. So this property is not profitable at all. However, the area will be in demand in the next year or two which is why I know it is a great investment for the right price. I just don't know what the right price is.

I've got similar questions about one that I'm looking at. I'd love to see any info you're able to collect if you're interested in sharing. I've received no response to my post about this topic.

1 Vote

Is there anyone here that would be willing to hop on a call and review a spreadsheet with me for a potential RV park purchase? I've got quite a few numbers that I think look good, but want to bounce them off other people that have done more investing than myself. Message me and I'll provide a Zoom link. I can keep it under 15 min if you're willing.

1 Vote

Seattle, Washington

I am with them on 5 rentals. Love working with them!

4 Votes

All Forum Posts by: Mike Sebastian

Mike Sebastian has started 13 posts and replied 49 times.

Post: Negative Cashflow - STR

Post: Best outdoor deck railing for short-term rental vs. resale vs. aesthetics

Post: Hot Tub? Good Idea?

Post: RV Park Reservation Software

Post: Current Capitalization Rates

Post: Share with Us Your Beautiful Cash Flowing Property!

Post: Looking for people interested in Tiny Homes!

Post: Evaluating non-profitable MHP

Post: Review a spreadsheet with me?

Post: Has anyone used Obie Insurance?