Updated about 6 years ago on . Most recent reply
First Time Investor Gatlinburg Area
Hi All!
My name is Kelsey and I am just beginning my journey in the real estate business alongside my husband Michael. I am 26 years old and currently work as a public elementary school teacher. I see real estate investing as a vehicle for long term wealth and financial freedom and plan to quit my teaching career and manage/grow our investment portfolio long term.
We are looking to enter the market in short term rentals in the Gatlinburg, Pigeon Forge, Sevierville area of Tennessee. Our primary residence is just outside of Washington, D.C. so this would be managed remotely. We are looking to invest in the $200,000 - $300,000 range and would like to acquire 2 properties per year for the next 3 years. We also plan to invest in long term rentals in a cash flow positive market using the returns from short term rentals.
I would love to connect with anybody that has experience in this market and can offer some insight!
Thanks so much!
Kelsey Ferguson
Most Popular Reply
@James Rowe if I had it to do over I would have started with larger. But I was in the same boat as you when I started. I didn't have enough capital to get a big one, so I bought what I could afford as soon as I could afford it, so I could get cash flowing now. All of mine are 1 and 2 beds, and their cash flow has bought me 10 properties in the past 2 years. So they are doing exactly what they need to do. Is bigger a higher ROI and more efficient? Yes. Is small a wrong decision? No. There is no wrong way to do it!