Italian Villa in The Great Smoky Mountains

[Kim Warren-Page]

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $250,000
Cash invested: $50,000

We purchased this property specifically as a short-term rental. It is an Italian Villa located one exit from The Great Smoky Mountain National Park. European patio with a hot tub and gorgeous view of the mountains keeps it booked!

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

We wanted to buy another short term rental in more of a tourist area. I mapped a two-hour circle around Greenville, where we live. The cash flow from our other airBNBs convinced us to buy another one.

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

I found this deal on the Realtor app. Then, I found a realtor who also managed short-term rentals in Bryson City.

How did you finance this deal?

I brought in a partner who financed it as a second home.

How did you add value to the deal?

My husband, a licensed builder, turned this one bedroom into a two bedroom. We also upgraded flooring, bathrooms, etc.

What was the outcome?

It is going GREAT! I receive a reservation for this property almost daily. It cash flows well, netting about $5,000/month.

Lessons learned? Challenges?

Covid-19 slowed the process to a crawl. It was difficult to plan when we needed to be there for the remodel.