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All Forum Posts by: Richard Lee

Richard Lee has started 4 posts and replied 73 times.

Post: Hello from East TN, first time post

Richard LeePosted
  • Rental Property Investor
  • Knoxville, TN
  • Posts 74
  • Votes 43

welcome, Brian. We should definitely touch base!

Post: Did Paul fall into a Coffeyville sinkhole?

Richard LeePosted
  • Rental Property Investor
  • Knoxville, TN
  • Posts 74
  • Votes 43

Don't forget *curmudgeonly* mayor. :)

Post: Need advice about investing in Sevierville

Richard LeePosted
  • Rental Property Investor
  • Knoxville, TN
  • Posts 74
  • Votes 43

@Greg Gibbs Definitely don't want to hand off 30-50% of your profits, so the game is to manage it yourself. As you hinted, technology is a big help here. But don't undersell the value of having good systems in place and building solid relationships with real people with boots on the ground in your STR's local area. All three things there are vital legs for that STR tripod you want to set up. Happy to answer questions as a neophyte STR owner and semi-local.

Post: Rentals in Gatlinburg Tennessee

Richard LeePosted
  • Rental Property Investor
  • Knoxville, TN
  • Posts 74
  • Votes 43

This is work, for sure. You will have headaches and you will (likely) curse. But is it a demonstrably successful way to make money and expand your REI footprint? Absolutely.

Are there folks who are looking to benefit from the interest in the area? Hell, yeah. (I'm one of them! And psssst. so are you if you're looking at picking up a STR property!).

I urge everyone to closely examine the value proposition of any business opportunity / pitch.
  Of any book, any podcast, and any service.  Make sure there's value for both sides... that's the kind of deal you can trust to be more genuine than any get 'rich quick scheme' or some pitch where the person promises huge gains for no work and no risk.

For instance, do I have to travel a bit to get to the Smokies and photograph someone's cabin? You betcha.

Can i pass on the entire cost of that travel time to the customer? Nope (some, but not all by any means)...

But do I benefit from having boots on the ground more often than most STR investors in the area?   If I'm conscious about my activities, my observations and my goals, then YES.   Can I pass that benefit on to others in a win/win fashion? Again, YES if I think about it and design a conscious, equitable service.

Don't discount someone's message because you think they might be trying to make a buck - that's why we're all here. But do conduct your own research and make sure the value you are likely to receive is worth the asking price.

Post: Rentals in Gatlinburg Tennessee

Richard LeePosted
  • Rental Property Investor
  • Knoxville, TN
  • Posts 74
  • Votes 43

@Karen Chenaille is that the deal if you were part of the Dollywood cabin program, I take it? Ouch

Post: Rentals in Gatlinburg Tennessee

Richard LeePosted
  • Rental Property Investor
  • Knoxville, TN
  • Posts 74
  • Votes 43

Smokies is still a great area to invest in for sure, you just have to learn what's available, the different sub-areas and their pros and cons, and then compare your budget, goals, and comfort level with the risks and rewards. @Avery Carl is who I'd recommend to talk to to get into the datastream of listings and ensure you're taken care of during the search and purchase process.  

I'd be happy to give you insight from many years of REI and closing in on a year of managing our cabin in the Smokies on tap to clear 45k gross as a 2br/2ba with 50+ reviews and a 4.9 star rating as a Superhost. We also photograph a number of new owners' cabins coming online as they acquire them and learn the ropes.

Post: Long-Distance Investment in Rental Properties

Richard LeePosted
  • Rental Property Investor
  • Knoxville, TN
  • Posts 74
  • Votes 43

As a Knoxville native (pretty much) I heartily endorse the area, of course I'm biased! :).  North Knoxville is coming into its own and has a number of cute little communities. It also has some not as nice areas, so your mileage may vary and it's a good idea to have boots on the ground you can trust (who aren't tied to your purchase and be 100% honest with ya).


Good luck, and let me know if you have questions.

Post: Hot Tub Servicing Sevierville

Richard LeePosted
  • Rental Property Investor
  • Knoxville, TN
  • Posts 74
  • Votes 43

I recommend Outdoor Spas. Honest, and good work. 

Post: Buying STR in Smoky Mountains

Richard LeePosted
  • Rental Property Investor
  • Knoxville, TN
  • Posts 74
  • Votes 43

Another thing to think about is the need to really differentiate your listing(s) and your hosting profile. Do this with quality service of course, and very responsive feedback to guests prospective and booked... and have solid, clear descriptions and amazing photography in your listing - this is a must!!!

I'm a big fan of as many pictures as possible, interior and exterior.. and if your property has ANY kind of a nice view OR has a geographical context that provides value (think PRIVACY, WOODED buffer from other cabins or roads) then aerial photos tell that story really well.   

Avery will hook you up with options for support team members, vendors to use, etc. 

Post: Sevierville Electrician and Furniture source recommendations

Richard LeePosted
  • Rental Property Investor
  • Knoxville, TN
  • Posts 74
  • Votes 43

I'm planning to just pressure wash and then spray paint my rockers and bench swing over the summer.. any recs on paint, folks?