All Forum Posts by: Zachary Cain Humphrey

Do you own and or manage any other STR investments in the Smokies?

Are you still planning to have the december 6th meetup? 

Hello,

My name is Zach Humphrey, owner of Bluegrass Rentals of Eastern KY LLC. We operate short term rentals via Co-Hosting and personally owned assets. I have two rental arbitrage units now and we (I and my wife) are having built a 1700 sq foot Modern A frame cabin in the Red River Gorge of Campton KY, a very strong STR market in the state of Kentucky. We purchased 3 acres in Campton (Victory Falls) to build at least 3 ground up construction cabins for the purpose of build and sell OR build and hold as full time STR's. Have you considered STR in Kentucky? The Bourbon Trail, Land between the lakes, Red River Gorge, Mammouth Cave National Park are all excellent STR areas in the state and we are always looking to connect and even partner with other investors. STR's will definitely provide you a bit more diversification and strong cash flow. Feel free to reach out to me anytime: 1-606-923-2788

Would anyone be looking to partner with new construction ground up or short term rentals? Have any LTR units/homes you would like to try as a short term rental to increase your cash flow a bit more strongly than LTR? We could design and manage the property for you while you retain ownership! Have a great day. Check us out on instagram: bluegrassrentalsofeky

Markets of interest to me:

1. the markets already mentioned above

2. Ashville NC

3. Gatlinburg Tn

4. Branson MO

5. New River Gorge WV

Types of Investing:

1. STR - co hosting, rental arbitrage, property management

2. BRRRR then convert the BRRRR to STR especially attractive in high purchase price areas like Gatlinburg TN

Home Types of Interest

1. 4 bedrooms and up

2. Turn key purchases on creative finance terms

3. properties in need of rehab with a view that could be zoned for STR

Outside of real estate I have been a Registered Nurse for nearly 10 years, 800+ credit score, strong financial record/DTI and Im honest/serious. I am a member of Robuilt's (Rob Abasolo) Host Camp program. Going all in on investing to escape the W2 world and create a better future for me and my family. Thank you for your time and I look forward to connecting with you.

 That is so exciting for you all Amy! Yes lets connect. Also I need to attend one of those KREIA events in lexington next time they meet together. Do you have any advice for investing in Stanton? Best locations to do so? Places to avoid?

Hey River Sava, we are investors working largely in Kentucky! I have 3 acres in the Red River Gorge of Campton KY. We are currently building a 1700 sq foot a frame (see our progress on instagram at: Bluegrassrentalsofeky. We want to do at least two more ground up constructions builds and are seeking private money lender options to complete these builds for either the purpose of building and selling them and or building and holding as full time STR's. Right now build costs averaging 150-250$/sq foot. our current build is around 175$/sq foot. Our current build is through a traditional construction loan with a bank for 300k. Our pre build appraisal coming back at just around 400k. Its a great market for buying land (around 55-85k / acre on average) and building new for purpose of turn key sales or hold as STR's. Occupancy and ADR up year over year and this market is rated one of the best up and coming in the nation! Kenny Bidwell, STR statistics analyst rates Red River Gorge as one of the top 5 markets he is keeping his eye on in 2024. Please reach out to us! WE would love to discuss private money options with you if your interested! Have a great day

I know this doesnt particularly relate to your overall question, but in Campton/Slade/Stanton KY area "Red River Gorge" which is very STR friendly and a long standing market, a 300k purchase price cabin in decent location with average interior design and hot tub can do around 45-60k gross. With added amenities like a putt putt golf, disc golf course, nice game room etc I think expecting 60-70k gross on lets say a 325k purchase price isnt out of the question. I personally consider that great numbers. However this market is very low inventory, nearly anyone investing in this particular area tends to buy land and build new. Check us out on instagram at: @bluegrassrentalsofeky

I started rental arbitrage January 2023. Put 20k down on furnishings of 2 investment properties in Ashland KY. We are set to gross 55k this year on that 20k investment. Im blown away by how good its done and thats obviously a huge return. Yet ultimately my goals are ownership where you then capture all the upside of being an investor! Good luck and happy hosting. Check us out on instagram at: @bluegrassrentalsofeky

Hello I and my wife are building short term rentals in an up and coming market of Red River Gorge Campton KY. We are seeking PML or HML to loan of 50,000$ to complete a custom window project. Will refi in October to pay back money lender so turn around time will be quick.

Our current loan amount is 260k. Pre build appraisal is 335k. So we anticipate equity to pay back money lender upon refi. 

We are doing two more builds on acres we own so would like a long term relationship with money lender on new construction. 

Thanks!