Current STR markets of interest

[Kyle Smith]

Hello Team,
I'm ready to purchase a new STR but I'm not sure where to take my money. I've been following the Pigeon Forge/Gat market for over a year now and I'm currently building a cabin in Gatlinburg, however, I think existing cabin options have long sailed at these prices.
I’m not sure whether to build another cabin in Gatlinburg or seek properties elsewhere.  I’ve looked into Branson MS and it looks like the STR market should be great, but due to zoning restrictions and a lack of bookings for cabins under 4 bedrooms, I’m passing on this market. They average 160 nights occupancy compared to 225 nights in East TN.   I really wanted Branson to work out. What a strange market that is…. 9 mil visitors with similar attractions but the numbers aren’t even close. 
My next thought is Disney area in Florida, but I'm not sure if the occupancy rates favorably compare to PF/Gat. Right now, I'm thinking of build another cabin in Gatlinburg. The ROI can't be beat if you are investing somewhere other than California.
Any other thoughts or ideas?

Thanks in advance

[Joshua Strickland]

@Kyle Smith I like the idea of building again in the Smokies. So much so I actually just put another piece of land under contract today. Permitted for 6 bed septic so pretty excited. If you have a good builder that you trust you can have instant equity when the build is done as you probably know. It's like a new construction BRRRR deal.

It can be disheartening at times when you see others acquiring property after property and you’re still waiting on yours, but I think it’s worth it.

Other than the Smokies I really like the Florida Panhandle. Since it’s the off season properties are sitting longer because people don’t want to carry them through until next summer. I believe this market has a more limited supply also. My condo is in the first new development in PCB in a decade. Low supply + high demand = $$$.

[John Underwood]

PF or Branson would both be great choices. The prices are the new normal so just find a place where the numbers work and move forward.

[Kyle Smith]

@Joshua Strickland

You must have bought those dual lots just outside of PF with the killer view.

[Joshua Strickland]

@Kyle Smith Falcon View Way. Crossing my fingers due diligence checks out. I went in low expecting a counter but was surprised when they accepted. Win-win for both parties.

[Kyle Smith]

@Joshua Strickland yep. I put an offer in on that property back about 5 months ago but someone else won the bid. Then it was back on the market at a much higher price. It’s a beautiful lot. The water well costs isn’t as bad as I had thought. Probably get away with paying around $15k. The water table is not too terribly deep there.