Questions for the Sevier County cabin rental cabal

[Joel Hollingsworth]

Hello world! First post on BP. Be nice.

First, a quick note about me. I'm a formerly-retired lawyer (UT-Knoxville law school) who is now practicing again primarily for the purpose of rebuilding an investment stash I lost in a recent business venture. I spent 2011-2018 trying to sell Tennessee Volunteers apparel in upper East Tennessee and literally losing all of my shirts in the process. (Pro tip: Don't try to sell fan apparel at a time when the team is in the midst of the worst 10-year streak in the 130-year history of the football program. Woo!)

Anyway, I'm wanting to join the STR cabin rental fray in Sevier County, and so I've been stalking @Julie McCoy, @Avery Carl, and @Lucas Carl, who intimidates me because he not only can digest thunderstorms, he seems to enjoy doing it.

I come with questions. Here are two to get started:

First, am I too late to the party? What you said about the recent appreciation bump in the area makes sense, but the higher prices are squeezing the cash flow numbers pretty good. How do you know if values are actually going up that much or if there are just too many competitors willing to overpay? Is rental revenue increasing accordingly? Okay, that's three questions already, but it only counts as one because I say so.

Second, property management vs. self-management. I know from following y'all (creepy, I know; sorry, but not really) that your take on this question is, "Hey, self-management is no problem, I can even do it remotely with no hands!" Well, maybe for thunder-crappers, but what about us mere mortals? And how in the world are all those PM companies getting away with charging 40% if it's not that hard? What all is involved?

Like I said, I have more questions, but those are the two biggest right now. Appreciate y'all being willing to share.

Am I supposed to sign these posts? I'm behind on my forum etiquette lessons. Whatever.

Sincerely,

Joel