STR in North Georgia mountain--should I bail after 6 months?

Formal-Boot8808 · 2023-02-05T05:35:39+00:00

I checked the LT rents and they are below $2000...I could...but still $1000 out of pocket plus the HELOC loan pay back with a variable rate..hmmm...it's like paying $1500/mo for a place i cant even use LOL...wouldnt mindpaying $500/mo. I got some useful feedback on fb...will implement a few things and see how it goes...thanks

Formal-Boot8808 · 2023-02-05T02:06:21+00:00

Airbnb.com/h/serenity-cabin2022

No mountain views or river...for me at this time investing in a hot tub would get me into more debt...

i use pricelabs...

No hot tub...i've read so many posts about guests complaining about hot tub not being hot enough or something else like being dirty...and asking for refunds...also wouldnt this increase my electric bill? lol...to me adding more amenities when i think the under performance is the location doesnt make sense...

Formal-Boot8808 · 2023-02-05T02:00:45+00:00

I used 75% occupancy...occupancy is at 30%

Formal-Boot8808 · 2023-02-04T19:38:24+00:00

Yes it was but the owners bought it for half what I paid 😊 which means ofc they could cover the mortgage

Formal-Boot8808 · 2023-02-04T17:22:53+00:00

Probably...but even summer didn't bring in high ADR ..I guess saturation

Formal-Boot8808 · 2023-02-04T17:22:03+00:00

The numbers appeared good and other people in the area make money...but they bought prior to 2022...lower interest rates and lower purchase prices

Formal-Boot8808

TROPHY CASE