All Forum Posts by: John Carbone

 1 bedrooms went from 30-40k to 50-60k?

Does sevier county have minimum square footage restrictions?  also, what if it’s a tiny home that’s placed on a slab?

Does sevier county have minimum square footage restrictions? 

Great information here. Does PF or Sevierville allow more than one per lot? If you are outside city limits with no restrictions can you do literally whatever you want or do you still need approvals?

I understand that the math currently works out to bigger is better, I just don't trust these valuations long term. Not saying it's going to happen, but recession comes and the bigger units are going to get hit the hardest initially. I still think in a worst case scenario having a modern 1 bedroom will still have a floor of close to $100 even in a recession. It's also targeting different groups. Post Covid will the top 5% income travelers continue to come to the Smokies, or will they do more Caribbean/city/international travel. that is a risk I'm not willing to take in this market. I do think though that there will always be the subset of people that will always go to the smokies for the nature and the park/trails, and those people tend to be couples 20-50s that want alone time in a modern cabin, in a nice natural setting, and they will always choose that over even a nicer hotel room. 

And it may be the case that I am wrong, but its a hedge to me. At record valuations, I'd rather have more properties at a lower pricing point with a good product. 

Also, I think the "floor" for lodging in general is going to go up significantly and will probably never dip below $100 again. The amount of inflation and wage increases at the lower end is only going to increase. $15 minimum wage is pretty much baked in already and that wage inflation is not going away. This means more people having the means to travel and I want to be able to target this new group of travelers. 

i came across this from gatlinburg zoning

503. ONE PRINCIPAL DWELLING ON A LOT. Only one principal dwelling and its
customary accessory building may hereafter be erected on any lot, except for Planned Unit
Developments approved by the Gatlinburg Planning Commission.
504. REDUCTION OF LOT SIZE. No lot shall be reduced in area so that yards, lot area per
family lot width, building area, or other provisions of this ordinance shall not be maintained.

does this mean that you can not build multiple cabins on the same lot even if the lot is 3+ acres? 

I see where you are coming from with the building a 6 bedroom vs single bedroom, but IMO I think there is a big recession risk with the large units, plus having a lot of kids and potentially doing more damage. I know people are crushing it with the big 4+ bedrooms but it isn't really for me. I kind of want to focus on finding a lot geared towards couples or people who want to be near the national park and the trails. I am also going to be living in the area to manage it so doing more units (as long as they are on the same lot) is not an issue for me. 

I am thinking building 4-5 small cabins on a lot with city utilities.  How difficult are permits to get in Gatlinburg? 

How strict is zoning and building permits in Gatlinburg city limits? Could I stack 3-4 cabins on a 2-3 acre lot?

also Josh, what size did you do/price per square foot did you get in PF?

I am looking into the Gatlinburg area and obviously it appears there is not much value left on existing cabins. Is it worth building new construction here, specifically in the Gatlinburg city limits? What is the smallest cabin structure that is allowed to be built and does it need to be built on site? Maybe build multiple cabins on a single lot that has city utilities so you don't need to worry about the septic, especially in areas that had damage from the fires.  I'm just thinking at these prices, building new seems like the only way forward sine everyone is competing for existing inventory (which is so low now.) 

Also when I say building new I am talking about couples cabins 1 bedrooms in a good location that would rent out in the $125-$175 range a night. 

Does this area cash flow a lot during the summer months peak season? It seems like this area is in high demand during the summers.