Selling 3/3 bedroom cabin to buy non-furnished 5/5 in Gatlinburg

[Anusha Udas]

Hello All, 

I have reached this decision making point and looking for advice. I have a very well performing 3 bedroom/2 bathroom cabin 5 minutes from downtown Gatlinburg. A great opportunity for a 5 bedroom/5 bathroom, non-furnished has come up. I would have to sell the 3 bedroom to get this 5 bedroom and then furnish it. With the cost being so high, and also the additional cost or financing of the furniture, the projected difference in cash flow is very little. I am already under contract for a different 5 bedroom cabin. Having never tested out the market for a 5 bedroom cabin for the entire year, would it be wise to consider selling the 3 bedroom for a second 5 bedroom without seeing how one would do?

I don't want to sell a well performing property but that is the only way to acquire the new 5 bedroom property. 

Generally, what does it cost to furnish a 5 bedroom house in your opinion?

[John Underwood]

Find a way to buy the new one without selling the performing one

There is a way.

Equity partner

Private money or hardmoney loan for downpayment

Seller possibly carrying back second mortgage for downpayment.

Money partner

Equity line against another property for downpayment.

Don't just say can't,  find a way.