All Forum Posts by: Ken Boone

It does have that unique look, but I would probably get rid of it because it is right in the middle of that space preventing you from using that space better. But if you do get rid of it make sure you know what you plan is for that space. 

@Collin Hays is right on. Price Labs like anything else uses an algorithm to decide on the best price. Of course this all depends on YOU setting the base rate and all the knobs and triggers most appropriately. It's the old adage of garbage in garbage out. It is is going to calculate the expected price based off what you tell it as well as what Price Labs sees in the local market.

I questioned myself moving to price labs after I had been doing this manually for several years. They have to be tweaked on a regular bases and most of the time it is due to it throwing out some crazy high ridiculous prices for some dates. Having said that, this is ultimately why I keep pricelabs, it gives me a structure to easily adjust prices via seasonality which I did not have before, it also continues my prices beyond the 12 month window - this helps if I forget to adjust future pricing and then the platform goes back to my default base rate kind of thing.

Having said that I am no master or expert of PriceLabs. 

You can use Canva as well. Very easy to make a nice looking guestbook.

Yes I think you are way high if you want it to sell in this market. Based on what you stated initially, your income from the property is 85k. From a 10x perspective that puts your price around 850k sale price. But based on the location and the market I am thinking that is probably still too high. You are competing with Cosby, Sevierville, PF, Gatlinburg.  And right now most stuff is not selling great in those locations either - even when their prices are close to reasonable.

Yea everything has changed since 2018. It is a different world now. You most likely won't find cap rates and ROIs to be anywhere near 2018. You need to do your research before you purchase.

I use hostfully guidebooks.  Similar to touchstay but it lets me collect guest emails prior to accessing guidebook.  I think you can let the guest optionally add an email with touchstay but hostfully has the option to force collection of email in order to access guidebook. 

We are not pet friendly. As long as I can get my target numbers without being pet friendly that is what I will continue to do. 

What I have found is that like cabins, one with a view and the other with a pool, that the pool cabin will significantly outperform the view cabin, all other things being equal. There will always be exceptions of course.

Yea I think the contacts you get from Facebook are the ones who want a "deal" and when they find out you are market price they move on.