STR Crystal Clear Criteria - Smoky Mountains

[Aaron Akins]

As first time STR investors, my wife and I are trying hard to nail down our CCCs before reaching out to a real estate agent in our preferred market. I'm willing to be flexible if needed, but I'd like to be as clear as possible from the start. Although we are still trying to figure our which specific city in the Smoky Mountain general area to invest, I'd like to get the opinions of this wonderful BP community.

For those successful STR investors out there, what do/would you have as your CCCs if you were in my shoes?

Is there any other advice y'all would like to offer up?

Thanks in advance!

[Collin Hays]

Everyone’s idea of a vacation experience is different.  Folks go to the Smokies for a variety of vacation experiences.  I own cabins from Cosby to Gatlinburg, and all do well, though they appeal to a wide spectrum of guests.


Last spring, I had a gentleman call me and ask if I wanted to buy his beautiful 2-bedroom cabin near Cosby for $230,000.  I asked “why are you selling?” He replied “well when we bought it, the realtor said it was only 20 minutes to Dollywood, and it’s really 40 minutes, so we don’t think it will do well.”  I told him I could close the next week.

That cabin has done over $45,000 this year in rents - not including taxes and housekeeping fees.

Moral of story:  Folks are too caught up in the aura of Gatlinburg, Dollywood, and cabins with heart-shaped tubs and indoor swimming pools.