All Forum Posts by: Yitzchok Carmen
Yitzchok Carmen has started 7 posts and replied 88 times.
Post: Gatlinburg Pigeon Forge this Memorial weekend - webcams
- Posts 88
- Votes 55
To be fair, the time stamp on this webcam is only 1 hour before closing. Probably wouldn't be at capacity no matter what
Post: Games VRBO plays
- Posts 88
- Votes 55
The new trend they started a couple years back of arbitrarily needing to raise the annual subscription fee $100 each year to "provide the best service" would fit into this also
Post: Gatlinburg STRs and the recession of 2022
- Posts 88
- Votes 55
Quote from @John Underwood:
Quote from @Frank Borzen:
We just stayed at the cabin of someone who lives in our city.
3/2 with detached garage that they turned into a theater/game room (very nice).
House has a bad drive with no view. Teeny creek running through the back yard. To access the hot tub/lower deck you had to walk through a bedroom.
He bought it from 650k in March 2021.
LIsted it for 950k in March 2022. Sold for 975k cash to someone from California.
Even the seller was saying there is no path to profits.
And yet you still stayed there. What was the draw for you to rent it?
Just bc he rented it doesn't mean it was a good investment for the owner! He rented it bc it was a nice place that fit his budget.... That doesnt mean the rents he paid covered the operating expenses when the owner overpaid for the property...
Post: Gatlinburg STRs and the recession of 2022
- Posts 88
- Votes 55
Quote from @Bonnie Low:
I dont know what will be in 5 years from now. But I can say that I own 6 STRs in the smokies. If you're freaking out about the summer not being booked in April and lowering your rates, I dont think this game is for you. If your summer dates are booked now you are too cheap.
And if you nickel and dime your guest on every infraction you definitely wont be in this game too long. That is not the way a serious STR investor plays
Post: AirBnb manager in Indianapolis?
- Posts 88
- Votes 55
So that's what you're after:) You never reached out to me!
Post: Do you allow real (wood) fires in fireplaces at STRs?
- Posts 88
- Votes 55
@Luke Carl Any recommendation on an electric fireplace model?
Post: Do you prefer an Airbnb or a hotel when traveling?
- Posts 88
- Votes 55
Hotel. The whole hotel stay costs less then just the cleaning fee on a 1 night stay!
Post: Accounting software for real estate investors
- Posts 88
- Votes 55
I use rentalhero.io and love it. Has everything I need and not the stuff I dont need. Easy to learn. And its cheap, $119/ annualy
Post: Cashout refi or HELOC?
- Posts 88
- Votes 55
Originally posted by @Kerry Baird:
@Ben Lockspeiser, yes, with my experience with ownership in an LLC: you will have to use portfolio/commercial money, or you will have to pull out of the LLC and refinance in your own name and then put back into the LLC. This means transfer taxes for me in FL
You are not nervous of the due on sale clause?