All Forum Posts by: 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. 

Lifestyle assets I can use myself. Pretty much always available to me in just a few days. Obsessed with cabins. 

I’m here now. Deep diving in tourist activities. Same amount of people circling for parking at Local Goat. GPS still having me avoid the parkway and bumper to bumper on back roads to cabins with out of state drivers holding me back from speeding to get to mine. This was last night. Line at Alpine Coaster longer than anytime I’ve ever been there. I’ll see what this week holds. I’m headed to Townsend and River Rat today. 

Really hard to say. Not all communities are created equal. Price for Mountain View properties is also higher. 

1 bed 1 bath cabin about 600 sq ft would be in tiny house territory and not totally created equal to your competition in your own neighborhood. Also some land in Tennessee will have restrictions based on the subdivision the land sits in even though it's not in an HOA. This market is better to buy turnkey cabin rentals since the building process takes a long time. I don't recommend building - I'm building right now. Hasn't been very fun LOL.

You don’t need vacancy if you’re using actual occupancy which for Smokies can be 65-80%. Seconding to look at expenses closely. Your agent can get historical expenses or help you estimate to a relatively close level. 

8-12% is usually good for most investors in your situation. So sounds like you’re looking good. 

Schlage Encode. We have combo boxes installed that have physical keys if any issues arise. Amazon has those fairly cheap.