All Forum Posts by: Scott Simmons

@Joshua Messinger, thanks for the kind words.  Admittedly, a portion of timing the market was luck, but I'll take it.  At this point, I'm moving on to long-term buy, rehab, and hold (currently investigating the Oklahoma City area).

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $415,000
Cash invested: $41,500
Sale price: $769,000

Bought this short-term rental (new construction) following a tip from a friend for $415,000 in October 2020. Had to deal with some growing pains (primarily construction related), but was able to net $32,000 in calendar year 2021.

In February 2022, I put the property on the market, and received nearly 20 offers in the first 24 hours. Ultimately, I sold the property for $769,000, turning a $354,000 profit.

How did you finance this deal?

Financed via bank loan (10% down).

Does anyone have a Home Inspector in Memphis with whom they have been particularly pleased?  Thanks!

If you are only given one question you can ask a short-term vacation rental cleaning company you are interviewing for hire, what would it be?  I'm conducting interviews, and want to make sure I cover my bases.

Incredible -- thanks!

Thanks for the feedback, @Luke Carl! You mention the calendar feature -- if you don't use TurnoverBnB, do you recommend an alternative app to align and manage your cleaning calendar?

I'm intrigued by what TurnoverBnB offers, but wonder if any of our folks have any reviews or experience using the platform?

This is a great thread. I've just purchased a cabin in Pigeon Forge, and was looking for a recommendation for a good cleaning service. Any suggestions? Thanks!

Thanks @Account Closed!

New investor here, trying to determine baseline ARVs for several areas in my local market (Chattanooga). Any thoughts on the easiest way to economically gather this data?