Deciding to sell or keep cabin in Gatlinburg

[Alexander Achim]

Hello BP, I’ve got a question I’m hoping some seasoned investors can help or give their insight . I just finished a pool cabin 4 bedroom 6 bathrooms . 4200 sq feet in gatlinburg with theatre , sauna , steam shower arcade indoor heated pool. Appraisal. Location is great , view is good and overall I like the cabin but the situation is :

950k mortgage at 8% . So mortgage sits around 7k without taxes .Just got our appraisal and looking at comps realistically 800-900 equity currently . We did the build ourselves so we saved alot of money but I don’t think I’d sell and build again just do to the headache of workers in the area . The lender thinks we’d get around 15-18k a month gross but I’d be hopeful to get closer to 12k average given current market conditions . 

Just had our first baby and looking to simplify my life a little so taking the equity and doing something back in Georgia is tempting . Thank you all for any insight .

[John Underwood]

I'd list it and see if you can make close to a million in profit if your numbers are accurate. 

It would take you many years to make this return on investment.