All Forum Posts by: Ruth Blue

 We lived in Orange County Ca for 13 years and My mom started investing first in St George UT then Huntsville, AL and then in the Sevierville TN area. Having  people to work with that you trust is Paramount. There have been struggles in the journey that I'm sure people are all telling you about the horror stories. BUT rest assured Not all stories are terrible or there wouldn't be tons of people doing exactly what you are researching. 

WE gave it a try STR in Huntsville, AL but ended up having TDY visitors mostly who wanted 3 to 6 months so we ended up just letting our PM there take over and she found us Great Long term rentals.

My Mom @Rhonda Blue started investing when we lived in Orange County, Mission Viejo CA. Her moto was driving distance in a day. When she started looking it was a choice from Phoenix, Las Vegas, or UT. It was about 6 months of research then she bought 2 - 3/2 bath homes in St George, UT. The second one was a short sale and took about 3 months. 

We were planning to move back to her hometown so after about at year she did a 1031 exchange and bought 2 properties in Huntsville, AL and 2 here in Sevierville, TN that are located in between Gatlinburg and Pigeon Forge. Less then a year later our whole family moved back so we officially are not managing from afar BUT 

We do recommend for first time managers it worked for her to be driving distance so that she could go and do rentals and only have to drive. NO Flying involved. 

 For us it includes of course Gatlinburg, Pigeon Forge, Wears Valley, Townsend, Kodak, Sevierville BUT also Tellico Plains, Coker Creek. There are so many hidden jems that allow for awesome Biker and Honeymoon stays. Such beautiful hiking trails, water falls, etc. For rentals Guests are looking for new and exciting things to do. 

Quote from @Marie M.:

Hello!  

What are my fellow BP member thoughts on this language? Does it specifically prohibit short term rentals? I'm not seeing that it does and I am living in an ideal situation to move out and STR. This is not an HOA, it is just a very old set of bylaws on a subdivision.

I don't put a lot of stock in attorneys, and I have worked in lawful counsel capacities for myself as well as for attorneys, so please don't recommend one 😄 

The way I'm reading it-- as long as it's the entire property being rented, which it is, and it's not for more than one family, which it isn't, then it's pretty vague if it wanted to prohibit STRs.  Any thoughts?  Thanks in advance!

We get this question all the time. "Transient accommodation" is STR specific. You may LONG TERM rental it only. One item not specificized is LONG TERM does that mean 3 months or 6 months or 12 months qualify?

Good LUCK

 WE own in Destin as well as the Smokys as well as in city Huntsville AL. If I could only own in one location it would be the Smoky Mountains. We are the Vegas of the East Coast. Honeymooners travel here year round. Plus small family weekend trips, family shopping trips, et. This location has year over year been more profitable. 

 We work with many partnerships. We also are apart of a partnership for the most recent purchase we have in Sevierville city limits. It is an adorable 2 bedroom home that was fully updated and let me tell you it stays rented. The monthly payouts are less then ours we own personally BUT The pros.... The risks are less personally and positive cash flow is positive cash flow be it $300 or $3000. Plus we are all helping each other out. I definitely would try it if you all find the right property.  

There are definitely key items you want to agree on moving forward. Who is responsible for what as well as who has final decision as well as financially. For us we have one partner who financed the deal as banks are not fond of lending to LLC. We also have one partner who does all the management, One who does the tie breakers. LOL It works for us.

Suprisingly, I have noticed many friends moving out to TN from California so I would consider Knoxville over the Bay area. With a lower barrier to entry and multiple units, if one tenant moves out you will not be at much of a loss until you find a tenant. Much less risk vs. reward. 

I would definitely go with someone local to the property itself. I Property Manager & would not be able to preform the essential functions if I were in a different state. 

Hi Kyle!

I am always happy to connect with another investor & discuss investment strategy! If you ever want to chat, my mom Rhonda & I live in Loudon/Lenoir City.