All Forum Posts by: Ruth Blue

@Michael S.

We have decided to sell 2 properties this year. One is in South Huntsville in Chaffee area and one is in Madison. Both sold for a nice profit. We did a 1031 exchange into a condo in Destin, FL.

We felt since holding them for over 7 years it was time. We will again purchase when deals present themselves but LOVE the stability of the area.

@Gia LaForge

As a PM There must be a reason. If they are not responding to you. You need to find other service providers.

Our properties in Huntsville AL, We have with PM Dietrich Rentals. When our last tenant broke a lease it took about 3 weeks. Carolyn never listed the property, they went in and repaired all the maintenance items big and small. Painted replaced vanity, etc. Then she already had a new tenant lined up, They were moving into town and moved right in with a 3 year lease.

You should text or call and be in a position with your PM for open communication. It should never be a guessing game as to what they are doing.

@Jonathan Paz

This question comes up alot. When we were faced with this our only answer was PRO out of state. There was no other choice.

We lived in CA and it only made sense to invest out of state so we researched and read everything then realized invest Where you know. We used to live in Huntsville AL so we bought some long term rentals there. We would go to Pigeon Forge TN for vacation when my mom was growing up so we bought STR there. We also vacationed in St George UT and could drive there in a few hours so we invested there. You should be comfortable investing where you know. Find people to trust who are mentoring others and know your numbers. Don't be afraid to share also with local PMs. We work with Dietrich Rentals in Huntsville and they are now life long friends.

@Joshua Poitras

My Mom and I are a team here in the Smokies. Out of state investing is the backbone of our lives. When we lived in Orange County, CA, the only place to make good returns was out of state. My Mom started in St George Utah, an 8 hour drive with 2 houses for long term rentals. Next we invested in Pigeon Forge Gatlinburg. My Mom knew the area well from childhood and the opportunity was great. She bought 2 cabins sight in seen and started STR. We never looked back. Now with 6 cabins owned and managing for other out of state owners. If your lucky enough to have local opportunities 100% go for it. My Mom also owns Huntsville AL and those are still out of state but more local with family around. Basically don't be afraid but take the chance. Run your numbers and be ready for adventure.

@Valerie Budd

We have modular and site built cabins we manage here in the Smokies. Guests do not care. When renting for income potential guests only care about location, the view, and amenities. One is a tiny home and the quality is amazing. It is all about the builder and the location.

That being said regarding financing, and selling there are huge differences already mentioned.

@Stacy Helman

Where is your Airbnb? Evolve is basically a call center and they coordinate with local operators to perform tasks and cleaning just as a local PM.

You will still need someone you trust to keep eyes on the property.

@Brian G.

We bought just before the prices skyrocketed. Just did cash out refinance and pulled all my initial cash back out.

Never give up. With the current climate prices have ready leveled off and Cabins are just sitting. Prices will come down.

@Kyle Wise

Hi Kyle

My Mom has bought a condo in Destin. The cost to get into the condo was less then the comparable homes in the area. There is also HOA fees that eat into the profits. BUT, She says the income is still a better return then her AL long term rentals. Short term renting it also is not an issue. The Destin area has passed ordinances I believe not allowing large rentals. But small family locations I think will hold strong.

@Kate Jones

We have STR and something is always breaking and needing replaced. We use software 5hat the cleaners can immediately send pictures when items break. My Mom has Long Term Rentals managed by Dietrich Rentals and they always send pictures and estimates for cost of repairs when items break.

There have not been alot this past year.

@Jose Ortega

We use Guesty but to be honest. We plan to move away from it and use Resort Cleaning to manage cleaners and then use the built in processes for VRBO and AIRBNB.