All Forum Posts by: John Carbone

I am interested in exploring purchasing a motel in the smoky mountains and wanted to make some other connections down there who have experience in doing this. I currently own a STR in Sevierville but want to expand in other areas. Thanks!

I just am in the process of finishing a renovation on a small motel like property. Message me if you want to discuss.

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Knoxville, Tennessee

@Collin Haysis the Cosby whale.

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Atlanta, Georgia

Quote from @Robin Simon:

Quote from @Parul Bhasin:

Hi, I am trying to find STR in smoky's under $200,000 with 2BD and great views. Market is too hot right now so I am ready to wait for a few months to get a good deal. I have heard TN is a better option than NC due to low taxes. Can you recommend good areas within Smoky's that are in my budget?

I am a newbie so any help/recommendations are appreciated. Thanks.

Yes taxes are important, but you really shouldn't just writeoff North Carolina vs. Tennessee due to "higher taxes". There is a lot behind the argument that East TN is oversaturated right now, I'd recommend being more openminded by state

East Tennessee gets the tourists though and it always has. I think places like Bryson city are getting over saturated and there’s just not enough demand.

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Atlanta, Georgia

Quote from @Reagen Natho:

@John Carbone is Jennifer your sister?!

Yes she is.

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Atlanta, Georgia

Quote from @Reagen Natho:

A 2 bed in the Pigeon Forge/Gatlinburg/Sevierville area is going to roughly run you in the $550-$650k range. With a killer view, you will probably be looking a little north of that.

I do like what @Collin Hays said above. I had a client get a super cute studio cabin in Cosby under contract for around $250k recently. It could be a great place to look, especially if you want a view.

I agree! I referred my sister on that one. The roi should be great on it! Collin turned me on to Cosby a few years ago.

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Atlanta, Georgia

Quote from @Parul Bhasin:

I am a newbie so any help/recommendations are appreciated. Thanks.

Mid 300s now for that, and probably no view.

1 Vote

Atlanta, Georgia

@Michael Baumhi Michael, would you mind sending to me as well? Thanks

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What happens if you start a brrrr and use 0 percent cc for the rehab materials causing credit score to decline from high utilization rate? I assume need to pay the cards off and won’t be able to refi and pull the money out?

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Quote from @Luke J Nelsen:

Quote from @Melissa Kirk:

I would not walk away over a slight increase in the rate. I would however be shopping for a better loan. Three points is crazy...I haven't seen anything more than a point with any client for years, even commercial or vacant land. Find another lender!

What rates are you seeing quoted for investment properties? I've reached out to several and they all seem to be charging 3 points for mid to low 6% rates

Tennessee state bank has 6 percent, I think no points fixed for 5 years.

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Did you ever start this?

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All Forum Posts by: John Carbone

John Carbone has started 38 posts and replied 1079 times.

Post: Purchasing a motel in Eastern Tennessee

Post: Buying STR in Smoky Mountains

Post: Buying STR in Smoky Mountains

Post: Buying STR in Smoky Mountains

Post: Buying STR in Smoky Mountains

Post: Buying STR in Smoky Mountains

Post: Direct booking or VRBO contract for STR

Post: Refinancing low credit score

Post: Keep the deal or walk away due to rates? Smokies

Post: Property Management Fee - % of Net Income