Gatlinburg vs Holmes Beach Florida

[Mike O.]

I currently own 4 LTR in my home town and I am looking to venture into a STR. I have roughly $550k in available cash but probably would only feel comfortable spending $400k of it. At this point the most important thing to me is location which unfortunately is going to cost me $$$$. I should be getting my taxes back this week and at that point will contact my bank to see what kind of loan I will be able to get. It looks like a decent place in Holmes Beach will cost me around 1.2 million which I'm not even sure I will be able to afford, Gatlinburg on the other hand looks to be more affordable. Either way I will be managing long distance and hope to get hooked up with a great cleaning company/handyman. There is also the option to potentially get a smaller property in each area. Im not stuck on either of these locations but my grandparents have a place near Holmes Beach so that area would be ideal and Anna Maria island looks to be out of my price range. Ive also heard great things about Gatlinburg. Any advice would be greatly appreciated. Thanks

[Luke Carl]

10% down one in each. Although never heard of that beach so better make sure it's STR Friendly! Get one in Coffeeville while you're at it @Paul Sandhu