All Forum Posts by: Matthew Stallings

Hello everyone. Strongly considering greater Disney World/Orlando area for STR specifically in Champions Gate/Windsor Hills areas. I'd love to hear only from investors currently with STR's in those areas. Looking to purchase a 7-9 bedroom house in the $375-550K range with my dad and want to get a reasonable expectation of yearly gross income precovid times. Someone who has maybe had a STR there for the past 2-3 years pre and during covid. Ideally, looking to gross in the 80-100k plus range but not sure if my expectations are just not realistic.

Obviously, numbers I'm sure are way down currently compared to if Covid wasn't going on right now. But I'm just trying to get a sense of gross earnings to expect on these larger homes for when things do start to normalize hopefully by next summer or so with international tourists coming back and not having to do the whole 2 weeks of self quarantine, etc. Thanks again and happy to share numbers with anyone on my STR TN rental property purchased almost one year ago in case they have an interest in that market.

@Brian Gerlach Yea, they definitely can be a few times per year. I just want to buy a few more so I can quit my w-2 job and give me more freedom in my life.

@Luke Carl now that’s a beauty. @Matt "Roar" Gardner have anything like this in inventory? Seems like a house would be better to avoid the high condo hoa fees and probably command higher nightly price.

@Luke Carl. Yea I know there is a guy Paul who crushes it there I believe. I think his is more hands on and I’d probably have to move there in person to manage what he does. Hopefully I’m wrong though and could do remote.

@Joe Prillaman. I’ll send you a message soon if you don’t mind.

@Avery Carl That's awesome. I haven't ventured or really researched outside of STR but a 12 unit sounds damn nice. I don't question your experience as an investor nor realtor and sorry if you got that impression. My main goal was to see if there are markets out there in the STR world where my gross/house price expectations would be met. It seems like there are based on some inbox messages on here from a few folks so my post was a success. I'm curious to hear your Destin numbers after a full year or so doing STR with it. Might not be fully accurate though year 1 due to Covid. I was looking there and PCB for a bit but halted around the time Covid first started. Good luck with the 12 unit as that sounds like a nice play!

@Avery Carl thanks for the reply. I think some of my post was a little unclear. I was looking for success stories in some of those other markets listed in my post that may fall within my gross/house price expectations. Would be happy to share my success numbers with others in return. Really wanted to find out if there were any markets that weren’t on my list that I may have not heard of before. Not trying to reinvent the wheel for sure. With you being a realtor in the area I first bought, of course you’re going to pitch that market however high the prices go. I was just trying to see if there were other markets that might be a better play for now. No knock on the smokies, I just feel it’s too inflated. Can still make money don’t get me wrong, just make less the higher the prices keep going.

@Brian Gerlach. Yes that’s a good point because STRs aren’t fully passive and yes it’s usually an hour or two of work each week. 7 bedrooms and sleeps 20. I guess in this case, $200k appreciation is better over 5 years but if you don’t 1031 when sell, owe a lot of tax money right?

Any good markets? Would really love to find a market where one can expect gross income of $80-100k plus in the house price range of $400-650k. I am trying to look at places besides the Smoky mtns. I already have an STR there that does great but market is super inflated now Similar cabins to the one I bought a year ago are going for almost $150-200k more. Any other markets where you can still see good returns and aren't as inflated? I've been googling and found the usual suspects of Destin, PCB, Orlando, Hilton head, outer banks, big bear, coachella/Palm Springs, Scottsdale, and Hawaii. Any success stories in some of these other markets with numbers I posted at the top of this message?

@Dan K. I think it depends how much cash flow it produces compared to how much it appreciates. If I have an STR that nets me $40k yearly In cash flow which I have. That's essentially the same as me buying a house that appreciates $200k over a five year period. Which situation is better? Would I pay less tax on one of them vs the other or is one method better than the other? I'm not sure so is why I ask.