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Updated about 3 years ago on . Most recent reply
New Smoky Mountain STR Investor Opportunities
I just started researching the Smoky Mountain area after reading the STR Long term Wealth book and listening to the BP podcast. It seems like a phenomenal market for short term rentals.
For those who currently own and self manage, I am curious what your experience has been like so far. Any surprises? Any recommendations for someone looking to get into the market? Are appraisal gaps needed to land an offer these days? Are Pigeon Forge, Gatlinburg and Sevierville equally desired?
It seems there are a number of sources to estimate revenue. What about resources to estimate expenses, accruals for capEx & maintenance and so on?
Most Popular Reply
@Ben Pileggi, as others have said -- that market is WILD right now. Do you homework. Get connected with a great agent. Learn how to do your analysis FAST and be ready to go when it's time. And I mean ALL your ducks in a row: lender, cash, agent, your criteria. All of it. Then when you see something you want, pull the trigger. There is no "wait and think about it" in that market right now. I have three there and a fourth under contract. Do your numbers, and act only if that makes sense to you. Good luck!