Huge Profit on STR in Pigeon Forge, TN

[Scott Simmons]

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $415,000
Cash invested: $41,500
Sale price: $769,000

Bought this short-term rental (new construction) following a tip from a friend for $415,000 in October 2020. Had to deal with some growing pains (primarily construction related), but was able to net $32,000 in calendar year 2021.

In February 2022, I put the property on the market, and received nearly 20 offers in the first 24 hours. Ultimately, I sold the property for $769,000, turning a $354,000 profit.

How did you finance this deal?

Financed via bank loan (10% down).

[Scott Simmons]

@Joshua Messinger, thanks for the kind words.  Admittedly, a portion of timing the market was luck, but I'll take it.  At this point, I'm moving on to long-term buy, rehab, and hold (currently investigating the Oklahoma City area).