All Forum Posts by: Mike Anderson

I don't know much about the Blue Ridge Mountains, but there are a couple STR host/investors from that area, that meet up once a month in Atlanta. Here is the next meet-up link.....The STRategic Investor. If you go to the next event, tell Kyle I sent you. :)

Thank you for this info! If anyone is interested in a meet up in Blue Ridge please reach out!

I might consider coming over the mountain if you have one in Blue Ridge. Like you, i have ZERO interest in going into Atlanta. I'd rather not make money than ever deal with that again.

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Atlanta, Georgia

Tons of info on evolve if you search here or any one of the facebook groups. I live in North GA. Tough market these days in general in most areas. Hope things work but i'd strongly encourage you to self manage.

1 Vote

Quote from @Henry Clark:

The only solution to inflation is the executive and legislative branches. Stop spending, turn on keystone pipeline/coal/nuclear, cut off illegal immigration, tune up immigrant work visas, tune up white collar immigration.

Say it louder... MUCH LOUDER...

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Phoenix, Arizona

Yea it's worth it great book one of the better ones.

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Westchester County, New York

Quote from @Ryan Bunting:

Good Morning Mike,

Did you see the RV lot in Motorcoach Resort that is now asking $305k? - Currently active on the market - Lot #70.

Regarding using them as a STR, you can utilize it to help cover expenses of ownership, but as you said your efforts may be better spent finding a STR villa or home. Of course this is also all dependent on how much money you would be putting down - if it was an all cash purchase it is redundant of me to say but it would cash flow - but with 20% down and 80% financed as an example - you would need high occupancy to cover your expenses. It becomes much more a "lifestyle" and "pride of ownership" buy at the above listing price for the right buyer where STRs are more of just a "perk" of their purchase.

Regarding the question of "why" they are similar to prices of a condo - a simple answer is supply and demand. Granted there are more factors at play but distilled down you can't increase the land supply on Hilton Head as we are an island, and the demand for location on the island remains extremely competitive. You are just as much buying the location and Hilton Head as you are the physical property whether it is RV lot, villa, or a home.

There are strong investments close to this price line in the Hilton Head market with strong rental returns such as condos and villas where you can have higher rental rates. As an investor I would recommend taking a look into these if we are strictly speaking from a number perspective.

Hope that helps!

Sincerely,

Ryan Bunting

I mean you can ask anything you want for a property doesn't really mean anything. Some of the spots in there have significant stone work, and outdoor kitchens, so i get the higher prices on some of those.

The hilton head one in particular is even more questionable to me as honestly I'm not heading to the coast of the carolinas in Jan/Feb. I'm heading to Florida so the key months i want to get out of the mountains here of GA and get some warmer weather I can't at Hilton head. I'm still headed south for that.

The HOA dues are very high too considering again its a lot, just a small patch of ground with a stamped concrete pad. I guess you might be right that some people see it as a pride of purchase thing (another way of saying status symbol) but really it's just hard to see the value in it when all things are considered and i say that as an avid RV'er my wife and i both work remotely.

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My wife and I are avid RV'ers and we have looked into this pretty heavily. There are places that sell lots, and allow you to put them into their rental pool. You basically need to pay for power, and their hoa dues. They do take 20-40% of the income as their split most of them. We have run the numbers on those and realized that it will be about break even with the HOA dues where they are at. Sure we would be able to use it, but then we are locked into one location. We had that opportunity to buy a lot in Hilton Head Motorcoach resort for about 150k, that lot just resold for 250k about 3 years later now. There is a place in North GA called river vista that people buy lots too, but they seem to turn over about yearly. Ultimately after we looked at the numbers, we realized we could get better return on investment elsewhere. Some of these lots are not up around the price of a condo in the area and it really makes you question why.......

1 Vote

Quote from @Casey Millsaps:

Quote from @Mitch Davidson:

@Casey Millsaps I would definitely use the tools that @Gerald Pitts mentioned to see where the opportunities are, and also to manually comb listings. The region is very hard to get help in, and that shows in the listings. Meaning you'll see a higher frequency of lousy looking listings here compared to markets that have more infrastructure and population. Another concern of mine would be the fact that Robbinsville appears pretty depressed financially. What was the downtown is full of vacant old buildings. Meaning your guests are going to travel far for the things they want...again unless you bring some of that to them. And that's something to consider with your exit strategy...meaning the audience that might want to someday buy what you build. And I personally wouldn't theme the place for bikers, as they're a seasonal audience (many of which don't ride in the fall due to leaves on the roads). I also suspect that glamping wouldn't do too well. We have a glamp site down the road and it's nearly always vacant, perhaps because the region is quite full of campsites. I think I'd focus on what you mentioned above, meaning a tiny home, very unique, with things to do/enjoy on site.

You would be correct on the financial situation of Robbinsville. It’s not as big and booming as Bryson or Waynesville. It is 100% a niche market. I appreciate you sharing what you did about the glamp site because we considered that… I think right now, as long as the research we do supports it, we would do a congregation of tiny homes as we have a lot of land to work with. But start with one.

It’s tricky because I don’t wanna fit a square peg in a round hole. And also you’re right about this region being a little lousy in terms of having some rinky dink listings that people just slapped on airbnb and hoped for the best. It would seem to me that those would bring the ADR down compared to the nicer stays.

I go through that area all the time as I fish in that area. Honestly i'd avoid that area, better options in WNC. If you did do it, and have land i would gear the entire thing towards the bikes and cars that go up there for the dragon runs. It's not something i would normally recommend but I think in that area you would need to create a bit of a draw.

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Western NC, North Carolina

Quote from @Joseph Kirton:

Quote from @Mike Anderson:

I think Sky Valley has a ton of potential due to proximity to Clayton and Highlands, but nothing pencils out.

Nothing Pencils out almost anywhere in this county right now, especially considering you can get a guaranteed 5% in CD's or T Bills with no work.

I can find deals in Western NC and on the cost that pencil out.

I agree that WNC has some deals that pencil out better. I said "county meaning Rabun county" not Country meaning the entire US.

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I think Sky Valley has a ton of potential due to proximity to Clayton and Highlands, but nothing pencils out.

Nothing Pencils out almost anywhere in this county right now, especially considering you can get a guaranteed 5% in CD's or T Bills with no work.

2 Votes

Quote from @Brian Barch:

Quote from @Joseph Kirton:

Quote from @Mike Anderson:

As a local and an investor, unless you are closer to the lake or find a really amazing place i'd not do Tiger especially without a view or some draw. I'd defiantly assume the lower end of the revenue numbers these days. Honestly Sky Valley would be a better option than Tiger, or closer to Clayton proper. I can also tell you that the local government is cracking down on STR''s in Rabun county.

Blue Ridge is a mess right now, I'd be over in Helen or Dahlonega area if you are wanting to buy right now and it's strictly an investment assuming something pencil's out which is hard right now. The north GA market doesn't see as much activity as a pigeon forge area less traffic overall.

I think Sky Valley has a ton of potential due to proximity to Clayton and Highlands, but nothing pencils out.

Just my own bias have been there several times…. Sky valley lacks proximity to amenities, while being a very dated looking resort. I’d rather be secluded and close to town without the association fees

I actually agree with you honestly. Somehow someway there there are a bunch of people that love it up there. I think they want to show up, be close enough to highlands without the costs of highlands and just relax and golf. It's a nice golf course overall, but i talk to and see people all that time that are just sky valley zealots mostly Florida people. It's weird and i didn't realize it till i moved here but it's been a surprise. They did just put a dollar general up close to entrance of the resort, otherwise like you said its void of amenities. The "resort" is actually an old failed ski resort. Now sky valley does have the golf course amenities, pool/spa and such which a Tiger cabin wouldn't. It's an older crowd in sky valley but a lot of people come back and spend time there every year for years and years for a few weeks. Like i said, it was a surprise to me too but it is what it is.

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All Forum Posts by: Mike Anderson

Mike Anderson has started 2 posts and replied 165 times.

Post: Blue Ridge GA Short Term Rentals

Post: Experience using Evolve?

Post: Anyone have an idea where the market is headed?

Post: Is Rich Dad Poor Dad Worth reading?

Post: STR RV Lots?

Post: STR RV Lots?

Post: Robbinsville, NC Market

Post: Any North Georgia STR gurus here?

Post: Any North Georgia STR gurus here?

Post: Any North Georgia STR gurus here?