STR Beginner Stories

[Brittany Daubner]

Hi fellow STR investors!

I finally purchased my first STR in the smokies in Oct 2023. It's a 3/2, new construction, and I went live just before Thanksgiving. It rented my first day live! Very exciting! So far so good, Jan/Feb were/are super slow (expected). I chose not to buy a cabin for my first purchase so that I could have a couple exit strategies just in case so I'm ok with how things have turned out so far. I turned the master closet into a small game/arcade room. I just added an EV charger and I'm extending my side deck to add a firepit and hot tub in the next couple weeks. I'm super excited to see how my first full year does and to learn more along the way!

I'd like to hear people's STR beginner stories for any/all markets if you'd love to share your story. NO judgement here!! We're all learning everyday. Please feel free to message me directly if you do not want to post here. I'm looking to create relationships and listen to how beginner STR investors are doing in today's market. Maybe we can learn something from each other.

One thing I am learning/going through right now is taxes and what comes with that. Nothing crazy so far, but sort of learning as I go while also trying to educate myself. Calling the county has helped answer lots of questions, they are also very friendly and helpful. I'm also in the process of trying to find a good CPA to create a relationship with to grow my business with.

Hopeful to hear fellow STR, or even MTR, investor's stories, what PMS or programs they're using, and how they landed their first property or what they're doing to get into one! If this is you, feel free to reply or message me!

Hope all of your business goals are thriving!

[Ken Boone]

Congrats on your first STR. It is very exciting! I am also in that market and you are correct the folks at Sevier county and in Pigeon Forge as well as the state folks with TNTAP are very helpful when it comes to figuring out all of that tax stuff.