Originally posted by @Jeff Kehl:
@Robert R. I took a look at your places on VRBO. They look great and you must be doing something right with all of those good reviews. Couple questions if you don't mind. How many nights on average are you booked over a year? Your calendar looks pretty booked out over the next 3 months but I'm curious what it is over the course of a year in a place like Gatlinburg.
Do you carry loans on them or own them free and clear? Are there any HOA costs on cabins like those?
I'm thinking that would be a great retirement strategy, get some VR properties owned free and clear and live off the income. Do you just own in the mountains? Ever considered adding a beach property?
All 3 are in the mountains here. We booked 250 days on each last year and are ahead of last years pace at this time. They will each gross between $25,000 and $30,000 this year. All 3 have the dreaded hoa's. 2 of the hoa's are in great shape and the other can be a drain at times. We do manage them ourselves on vrbo, etc. Real estate taxes here are about 1/2 of 1% of value. Very cheap. The cabin companies here charge 40%. Yikes! That would be a recipe for cash flow killing.
We hire out a cleaning company and do most of the maintenance and handyman work ourselves.
We would love to own a beach property at some point and were just talking about that last week. Any suggestions?
