Bargain hunters: New construction near Gatlinburg being auctioned off

[Collin Hays]

3871 Holders Grove Rd, Cosby, TN, 37722, USA (auction.com)

A few thoughts.  While this wouldn't be my number one choice of locations, all I care about is making money.  If this can be bought for $200K or less, it's a winner.  I will probably bid on it myself.  

I'm not sure whether the bank is selling the property, but I suspect so.  Opening bid is $150K, although there may be a reserve. 

We are finally starting to see indications of some deals in the Smokies.  Another poster told me of a cabin in Townsend that is approaching foreclosure.  For those of you that are holding cash, you may score a really good deal in the coming months.

[Collin Hays]

Quote from @Matt Mertz:

Quote from @Collin Hays:

We have a builder friend with a few 1 bedroom cabins in Cosby also making about $40k/yr.  I'm not sure what his cash investment was, but he built them himself so he's probably pulling a decent ROI like you and was pleased with their performance.

Anecdotally, we saw a big, new cabin on Little Bear Rd up the road from there that was for sale.  It was a modern, new build and I'm assuming the remote location was preventing them from getting the ROI they were looking for.

Yes the Cosby guest is seeking a different vacation experience than the Gatlinburg guest. I was drawn to Cosby for privacy and fly fishing in solitude.  I usually fly fish Cosby Creek, and have seen 2 other fishermen on that water in 19 years.  My kind of place.