STR Costs Not Including Mortgage Each Month (Sevier County TN)

[Thomas Bass]

Hi, I am trying to put togetger a performa for an STR. What are your monthly costs outside Mortgage, would love to see numbers. I want to make sure I am not forgetting anything. This STR will be in Sevier County TN so similar locations would work as well.

Thanks so much for your help!

#Sevierville #Gatlinburg #PigeonForge

[Chris Watson]

@Michael Baum @Thomas Bass I have built and am building in the market for buy and hold for $130-$150 a square foot. Finding a lot with a view is key. The difference in price is more due to customization, well depth and driveway length. If you want instant cash flow buy an existing and if you want to control your product then build. As for price per night rarely does my 2 bedroom go below $219 a night and as high as $529. My 5 bedroom goes at $475 a night mid season and as high as $875 a night. My others are in between. Just like there are different quality and prices in hotels there are different qualities in cabins. We charge higher, give a higher quality product, attract higher quality guests and get a higher return. With the cost of a lot it is close to the same in building vs buying existing. Decide your strategy and either buy a cabin or buy a lot, but either way get to it!