All Forum Posts by: Leslie Anne Morris

I just did a huge remodel of my house in Pigeon Forge. Curious to know what you all have done to stand out in your STR market! Please share, because I own another house right down the street and am contemplating doing it next!

Here's the house:

Themed Out! Over-the-Top Pink Dolly Theme Project in Pigeon Forge, TN (biggerpockets.com)

4 Votes

Start with your original lender first...then branch out. Let them know everything you've done...create a huge list of stuff with associated costs. You may need to pivot lenders, it may involve your loan rate increasing. If the new property purchase underwriting can offset that increase then you are in the clear and you should definitely do it again!

0 Votes

I don't know Norris Lake, but I know Douglas Lake...I own a cabin there. It performs a little under your typical Sevierville cabin...it's about 25 minutes from Dollywood. Happy to share details.

0 Votes

Quote from @Taylor Pyles:

Quote from @Leslie Anne Morris:

All of my STR were found on MLS. I haven't gotten too fancy.

What is MLS?

Multiple listing service. It’s get an agent and find a property. I’d recommend getting a real estate agent who is also an investor in the market you’re shopping in.

0 Votes

It goes up and down based on what you type in. I looked at it previously and thought it was low for my market. I’d talk to other investors, realtors and do your own research versus just relying on one source.

1 Vote

Ownerrez supports Squarespace and they have widgets you can imbed on the site. Super easy. I’m rebuilding my page now and it should be live within the week.

1 Vote

All of my STR were found on MLS. I haven't gotten too fancy.

0 Votes

Quote from @Bill Denney:

Quote from @Leslie Anne Morris:

Quote from @Bill Denney:

Quote from @Leslie Anne Morris:

I still believe in the Smoky Mountain market and am still active here. I’m seeing ‘deals’ all the time and saving the hot ones. Deals in quotes because the market is different now. Cash on cash around 10-20% in most cases. Also I’m a fan of the 2 bed / 2 bath with those killer views of the mountains and they still perform well. It enables you to get last minute bookings for a couple looking to get away. I hold quite a few in my portfolio and lots of my clients go for that size too.

That’s why I am still leaning towards the smokies. Obviously it varies depending on the property - but I’ve read that it’s best to stay under 550k for a 2/2 with a view - otherwise margins get pretty slim. Do you agree from your experience?

The view properties have been upwards of $600k. $600-800k is a typical budget. The wait and watch method might get you one below that but I haven’t seen any.

I appreciate the honesty that helps us set our plans and expectations. I’ll keep an eye out on the fringes for reduced price deals - I hear wears valley and Townsend are ok but to avoid Cosby.

Wears Valley is my primary target. I own 3 there and I’m building one. Townsend I own 2, but I wouldn’t recommend that market for your first few cabins. Tourist haven’t totally moved that way yet. Rate per night is less.

0 Votes

Knoxville, Tennessee

All Forum Posts by: Leslie Anne Morris

Leslie Anne Morris has started 3 posts and replied 1252 times.

Post: I just did a huge remodel of my house in Pigeon Forge

Post: I just did a huge remodel of my house in Pigeon Forge

Post: I just did a huge remodel of my house in Pigeon Forge

Post: Got my first STR property, need guidance for next one

Post: Looking for Cash flow - wondering the expenses on STR

Post: STR Newcomer Searching

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Post: What is the best MTR/STR Direct Booking website host?

Post: STR Newcomer Searching

Post: Gatlinburg maybe? Where to invest 50-70k investment for 80k + return