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All Forum Posts by: Xumin(Cassie) Ma

Xumin(Cassie) Ma has started 6 posts and replied 17 times.

Post: Appraised Rent for Cabin

Xumin(Cassie) MaPosted
  • Investor
  • Chicago, IL
  • Posts 18
  • Votes 3

Does anyone finance the cabin at Smoky Mountain using the future rent income to offset the debt? How much is your appraised market rent for the cabin? Can you leave the comments with the area name, how many bedroom and size?

Post: Smoky Mountain Cabin

Xumin(Cassie) MaPosted
  • Investor
  • Chicago, IL
  • Posts 18
  • Votes 3

How does everyone structure their deal? Second home or investment property or commercial loan?

Post: Smoky Mountain Cabin

Xumin(Cassie) MaPosted
  • Investor
  • Chicago, IL
  • Posts 18
  • Votes 3

Originally posted by @Joshua Strickland:

Yes they are overpriced, but yes you can still make great returns. It’s never too late. You just may need to put more cash down in order to cash flow. (Not that you need to right now.) 
It all cash flows if you pay cash!

 

Compare to Florida, do you think it is better to invest in Smoky?


Post: Smoky Mountain Cabin

Xumin(Cassie) MaPosted
  • Investor
  • Chicago, IL
  • Posts 18
  • Votes 3

Hi all who are investing in Smoky Mountain area (Gatlingburg/Pigeon Forge/Severville)! Is it too late for me to try to get into the game? Are those cabins overpriced? I just saw one cabin had a price cut $100k...Is it normal?

It looks like to get a decent (not updates needed) cabin in 1b1b needs to be at lease $300k and above. Is it worth it to invest in 1b1b cabin around 500sq?

Any of your opinions would be really appreciated!!

Post: AirBNB rental financing

Xumin(Cassie) MaPosted
  • Investor
  • Chicago, IL
  • Posts 18
  • Votes 3

@Eric Bilderback can you pm me the lender you use?

Post: Upper Peninsula STR

Xumin(Cassie) MaPosted
  • Investor
  • Chicago, IL
  • Posts 18
  • Votes 3

I am new to Michigan UP area. Right now we are looking for properties to do short term rental/airbnb around Porcupine Mountain and upper north to Copper Harbor. Any investors here can provide some insights of the market there? How is the regulation? How is the occupancy rate and peak season?


Originally posted by @Rachel Kokosenski:

@Greg Moore - I have an STR in Western Michigan. It was a rough beginning to the season since we could not rent until June, but since then I've been having a great year! One key factor seems to be that I switched my cancellation policy from super strict to super flexible. This made me nervous at first, but even when someone cancels, I seem to get a replacement very quickly.

I just started to look at the STR in Michigan. Where in western michigan will you recommend to do STR? I heard there are more and more restrictions on airbnb there.