All Forum Posts by: Mike S

 LOL, I hear you. I'm looking at 5 to 700k for 2 and 3 bedroom cabins thinking "That's reasonable". Idk, takes money to make money.

 You don't think the cabin would sell for $400K today?

I fully plan on managing it myself as I have done with my LTRs for the last 7 years. So I'm looking at 2 bed cabin style houses and they seem to be in the range of 500k. If I average $200 per night that's $64,000 gross. If I can put down 10% (which I hear is doable but I could do 20%) my mortgage is ~$2,500/month or $30,000/year. That's half of my gross right there before utilities, maintenance, etc. Let me know if I'm wrong on something or missing something because I would love to invest and own property there. We love the area.

How can I find this data? I have looked on AirBnb and what I'm seeing is almost everything is under $200 per night. I have been going to Gatlinburg since the 80s and I don't think I've paid much over $200 per night for really nice 2 bedroom cabins. We are actively looking to invest in the area I'm having a hard time justifying it. Seems like the average all year is about 200 to 225 for 2 bed units and my mortgage on a $500k property would eat up almost half of my gross revenue.

I was just going to post this same question. Was looking in the GB/PF area and everything is crazy expensive to the point that the mortgage would eat half of the gross rents. Cosby looked like a much better alternative.

A collapse in the dollar (which I don't think is likely) will increase rents via inflation while my fixed rate mortgages get relatively cheaper.

If only because it has a professional sounding name. 

eRentpayment.com

I use 10% each for vacancies, repair/capex, and maintenance.  This would be a pass for me. Even fully rented it would barely break even.

I've looked at landlordlocks but I like how I can pick up Kwikset stuff locally.