First Investment in NC Smoky Mountains -Smoky Bear Lookout

[Alissa Cole]

Investment Info:

Single-family residence buy & hold investment in Maggie Valley.

Purchase price: $270,000
Cash invested: $45,000

Smoky Bear Lookout is a 4 bedroom home in the Blue Ridge Mountains near Maggie Valley NC. We cleared the view after purchasing and had no idea we would have long range 40 mile views! We updated the kitchen with granite and tongue and groove walls and updated all the furnishings. It is currently a short term rental.

What made you interested in investing in this type of deal?

Listening to Avery Carl on Bigger Pockets podcast talk about STR's in the Smoky Mountains. This home is 20 mins away from the entrance to Smoky Mountain in NC.

How did you find this deal and how did you negotiate it?

We found it on the MLS when visiting the area. I am a licensed REALTOR in NC and was able to represent myself in the transaction.

How did you finance this deal?

Conventional Financing as a second home.