All Forum Posts by: Ryan Moyer

I'm pretty sure they're banned in LV proper, but legal in Henderson, right?

I don't think I could say with confidence right now that an unthemed 5br townhome in Davenport would do 70-80% occupancy at $275/night.

People are giving those places away to guests right now.  And granted, it is very much the slow season in Disney, but it's not like last year where "slow season" was actually just "slightly-slower-than-high-season season".

On question #2, you can write off pretty much everything other than the principal paydown as an expense that limits your taxable income, so you wouldn't owe anywhere near $20,000 in taxes on that amount.  Assuming $70k in income, $20k in principle paydown, and $40k in other expenses your taxable income would only be $30,000 (multiplied by whatever tax bracket you fall into to estimate what you would owe).

I just signed up with TrueBooks, which is Ryan Pineda's (featured on a few BP podcasts) company.  He's not a CPA, but it's the CPA company he created to do his taxes.

It's expensive, and I am just getting started so I can't say good or bad yet, but throwing the name out there as they are very real estate focused.

If it's out by the Braves stadium I think that's a pretty decent place to be.  But I'm not sure if there's a demand for that large of a place out there or not.  Would be interesting to dig into.

Is this subject to all the new STR restrictions going in place in the area or are those only for Atlanta proper?

You can self manage at Encore, but your guests will not have access to the resort amenities.  For that you need to use one of their preferred managers.  I'm not sure what they charge but you can bet it won't be cheap.

Any reason you're set on Encore?  It is the nicest of the resort neighborhoods, I'll give it that, but I get the impression the returns are a fair bit lower there as the home prices are a good chunk higher for roughly the same thing.

I agree somewhat, but it's situational.  So far the touristy areas have held up much better than the fringe areas that got popular during post-covid revenge travel.

Houses in the Smokies and Destin are still selling for close to what they were in the peak.  I've got a place in southern Utah that blew up during post-pandemic revenge travel.  Houses there are already selling for 50% less than they were at the peak, and the revenue decline matches that.

Obviously there are places that haven't turned like this, but I think a lot of these fringe markets that blew up when everyone was forced into them are going to really take a beating.

And of course, those kind of areas are much more vulnerable to future regulation.  Gatlinburg isn't going to wipe out all STRs overnight and leave the owners holding the bag.  Some fringe town in Texas or Utah could.

 He's talking about Rabbu as a PM, not getting revenue info.  Rabbu provides the revenue tool for free and uses it to try and upsell property management.

The one I linked to I own and self-manage myself.  I also manage a few other homes for other people.

Self managing is definitely the preferred method around here and I totally agree with it if you have the time and energy.  A year ago I would have said self-management was a complete no-brainer because during the post-covid travel boom because most of the work could be automated and there wasn't that much to it other than putting your listing up and collecting the money, and a PM really cut into profits.

Things have changed some since then where complacency in hosting leads to empty calendars after travel has cooled some.  Still totally doable, and I would still recommend self management if you've got the time/desire for it.  It's just not as set it and forget it as it used to be.  You need to be involved, constantly updating your listing/pricing, listing on more platforms, collecting emails and doing email marketing, etc.  Whereas a year ago just throwing it up on Airbnb/VRBO would net just as many bookings as an active PM and you were basically just throwing away the PM fee to save yourself 5 hours a week, now I do actually think an active PM can bring in more revenue to somewhat make up for their fee in the current market where active listings are booking up better than passive ones.

So really it just depends on how passive you want the investment to be.  During the boom you could get the best of both worlds and be ALMOST passive (less than 5 hours/week per property) while still saving the PM fees.  Now there's more value to it, but if you can swing self management and have the time to invest (it's still not a lot, nowhere near a full-time job or anything) it is still the best approach.  It's just not for everyone.

As for themed vs. unthemed, my personal opinion is I wouldn't do Orlando without at least some level of pretty decent theming.  There are 40,000 nice houses with nice furniture for rent in the area, and the only thing to compete on in that bucket is racing to the bottom on price, unless you're able to compete on the experience (themes, arcades, theater, etc).  Other people feel differently and I know some have had success with unthemed places, but they typically bought in with much smaller mortgages.

Linda where are you getting your estimates on the electric cost being thousands of dollars just for the heat?

We have a pool in Orlando and we run it every day year round and the highest our electric bill has ever been was $750, and that was for everything (9br house included), not just the pool heat.

Granted it's a fairly small pool, how large is your pool?

Okay but snakes under the hot tub would legit freak me out.