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Updated about 5 years ago on . Most recent reply

User Stats

66
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66
Votes
Tom Donnelly
  • Rental Property Investor
  • San Diego, CA
66
Votes |
66
Posts

Would you buy this deal in Sevier County, TN?

Tom Donnelly
  • Rental Property Investor
  • San Diego, CA
Posted

I've been analyzing deals in Sevier County, TN for a few months (researching the market for a year) and am looking to pull the trigger on a deal soon.  Here's an off market deal I'm currently analyzing. This is what they owner has shared with me. Would love to hear who would and would not pull the trigger on this deal who has experience in the market:

Price point: $269k

Gross income: $39k in 2018 . $32k up to 11/30 in 2019 (missing December)

Taxes $836/year

Hoa $250/year

Cable $121/month

Phone $50/month

Electric $184/month

Cleaning supplies (?)

I'll be self managing through my company so I don't need to worry about getting overcharged or priority over other cabins in their portfolio.    Can anyone share what they're paying for vacation rental insurance or a ball park for insurance on a 2/2 cabin?  Am I missing any other costs that I should be aware of?  Would love to hear thoughts from those in the market!

Most Popular Reply

User Stats

909
Posts
1,612
Votes
Avery Carl
  • Real Estate Agent
  • USA
1,612
Votes |
909
Posts
Avery Carl
  • Real Estate Agent
  • USA
Replied

@Tom Donnelly Thank you! Glad it helped! I love Wears Valley. If it's doing 39k not on the major platforms then it can probably do SIGNIFICANTLY better once you get it on them! Without having seen it, I think I would go ahead and buy that one!

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