With all the price increase is it still worth investing in smokys

[Rajkumar Theagarajan]

Hi everyone, I'm looking to invest in the STR market in Gatlinburg/pigeon forge area. The price that I've been seeing for 3bed cabins are ranging from 500k - 580k. 2 years ago these cabins were sold in the 350k - 400k range. My question is although the cash flow for most of these properties will be great (annual gross >65k) is it still worth the ROI because of the rising cost of these cabins? Would love to hear your suggestions 😊

[Corby Goade]

I don't know the market in the Smokies, but I've been doing this for a long time and I understand the mindset behind this question- these boards are littered with "should I wait" posts. The reality is that you should be asking questions on these boards about process for sure, but from a financial standpoint- every person has different goals, resources and risk tolerance. To complicate things further, every market offers differet returns, tenant profiles and feasable exit strategies. 

Only YOU can decide if a deal works for you. I am a full time investor and I can tell you that if I posted ANY deal I've done on these boards, I'd be torn to shreds. Yet here I am, travelling with my family when I want, going out to eat when I want, living a life I never thought possible for me. 

Anyone can do this, but you have to be prepared to be uncomfortable for a while. There's no two ways about it. Your first few deals with be scary and stressful- not because they are bad deals, but because you are stretching and learning. 

Don't wait for a homerun deal, find a decent deal that works for YOU and jump in. You can do it, 100%.

Good luck!