STR Smoky Mountains

[Brittany Stradling]

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $425,000
Cash invested: $23,000

1 bedroom short term rental in the smokies

[Brittany Stradling]

Quote from @Doug Spence:

@Brittany Stradling Congrats! You gotta give us more info about it!

1. How did you find this deal?

2. How did you fund it?

3. Are you self managing or did you hire a company?

4. Does the home need any work to get rent-ready?

5. What will your next deal be? Are you looking for more of these in the smokies?

 Thank you and sure! 

1. I used a 5% down, no PMI vacation home loan from Navy Federal

2. I used my own cash for the down payment and asked sellers to cover most of the closing costs. 

3. Self managing all the way. At this point in my journey, I'd rather take the time to self-manage vs writing a check. 4

4. The home is outdated but will rent as is. I need to do a few minor updates like adding a smart lock and cameras before it's rent ready. I plan to completely renovate the place during the off season. 

5. I picked the smokies this time because it was safe. Next time, I want something with a little more cash flow and a lower purchase price. My next deal will probably be a mid-term rental in Indy (my next of the woods).