All Forum Posts by: Rich French

Thanks Dave. It’s near Shelton. Water view when we get rid of a few trees.

The property is a couple of acres and I don’t *think* the neighbors would have complaints. It’s more that it’s a hillside with only so much flat land. I think we will probably keep it as a garage for now, but am leaning towards picking up a few arcade games or pinball machines if I can find them cheap enough. 

Remodeling a 5/3 to turn into a STR. Has a 2 car garage. In the garage are the furnace and hot water heater as well as an electrical panel and emergency generator. Parking is not great on property for such a large house.

Should I keep the garage for parking, there are only enough spots for 3 cars outside the garage. 

Or do I add a game room which is what I’m leaning towards, or put in a large hot tub? Also interested in other ideas. Not looking to sink tons of money into a conversion .

Quote from @Brian Barch:

Quote from @Matt Schreiber:

@Ryan Moyer Yeah I agree about it being deal specific. My point was mostly, you could say if you find something in the Poconos that's Lakefront with decent amenities, it can do around 100k and those properties are pretty close to 500k in that market. I spoke with another investor the other day who said the Lakefront 4 bedrooms in Hot Springs, Arkansas can do around 100k but those are closer to 600k. I was trying to see if anyone had examples of a certain type of property in their market that could reach those kinds of numbers around that price point. The mountain markets seem to be 50 or 60k for a 500k house but would love to hear from anyone who is seeing better numbers with a link to their Airbnb. 

in many of the mountain markets, you have to have size, I’d say the ability to sleep 14+ to do 100k. 

Ironically, In my market, I almost think you’d have a better shot of doing $200k for a $1M cabin than you would $100k for a $500k home if that makes any sense. 

I do about $55k on a $320k cabin and I’m super happy with that.

I also think if you bought land and built the right kind of home (container, treehouse, etc) you might be able to achieve this. 

I know of a market where this is true. $1-2m homes that are doing 200+. 

my wife and I recently bought a rural 5bed house that airdna has at 90k per year for 500k. We will have it up and running early next year, so we will see how that close it comes.