STR Cabin Pigeon Forge/Gatlinburg Area Help

Southaven, MS · Member since 2024 · 3 posts · 1 vote

Hey everyone. Newbie here. My hubby and I are looking to take the first steps towards purchasing a STR cabin in the Pigeon Forge/Gatlinburg area hopefully in the near(ish) future. He works full time, so I'm trying to handle the bulk of the research etc and feeling a little overwhelmed. Is there anyone out there who would be interested in setting me on the right path to get started? I could absolutely use the guidance of some experienced folks if anyone could be so kind.

Any and all assistance is appreciated! :)

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John UnderwoodPro Member

Investor · Greer, SC · Member since 2014 · 13k+ posts · 17k+ votes

Check with @Avery Carl.

She is an investor in the area as well as a broker/realtor.

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Mike Fingleton
Real Estate Agent · Scottsdale, AZ · Member since 2024 · 155 posts · 103 votes
1y
Hey Tracy,

I remember my first deep dive into STR (short-term rental) investing back when I was looking at areas around Phoenix for desert escapes.. felt like a full-time job with all the unknowns! Pigeon Forge/Gatlinburg is a fantastic choice.. those mountain cabins attract serious travelers all year round, especially with all the seasonal tourism. You're definitely on the right track.

A friend of mine actually went through this journey a few years ago.. she picked up a cozy cabin around Pigeon Forge after a few back-and-forths with local agents. What she found helpful (and I swear by this too) was really taking the time to understand the local zoning rules.. some areas are super-friendly to short-term rentals, while others could throw up unexpected roadblocks. From what I read in The Wall Street Journal, these little nuances can make a big difference.

One thing I always tell first-time investors is to connect with a few locals in real estate and maybe some in property management. These folks can help you understand what to expect for high and low seasons, and they’ll have some insider tips for staying booked up. For example, the winter season around Gatlinburg brings in families looking for a cozy mountain getaway, so making the cabin feel festive can boost those winter bookings.

Another thing is the financing aspect. It's worth checking in with a few investor-focused lenders who get the STR game. Some traditional lenders might not see the value in a cabin rental, but a lender familiar with STRs knows the potential income these properties can bring. When I got started in this, I learned the hard way that not all lenders view STRs the same, so finding someone in the know can save you some serious stress.

If you ever need an ear or just want to run a few ideas by someone who's seen a lot of angles in the STR market, feel free to reach out! This game is a bit like a puzzle, but you're going to love how it all starts to come together. Also, I'm obviously biased, but I do think you would have a greater upside with lower risk as an out-of-state investor looking in AZ just so you don't have both your personal home as well as your investment property in the same market - diversity is key in this game! Just a thought :-)
Take care, Pat & Jasper

Turning investment visions into REALITY in Phoenix, AZ - Ranked #1 for residential real estate growth and opportunity by PwC
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John UnderwoodPro Member
Investor · Greer, SC · Member since 2014 · 13k+ posts · 17k+ votes
1y
Check with @Avery Carl.
She is an investor in the area as well as a broker/realtor.
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Michael BaumPro Member
Olympia, WA · Member since 2016 · 8k+ posts · 7k+ votes
1y
I second @John Underwoods recommendation. Give @Avery Carl a call or message and she will set you on the right path. She has a lot of resources in that area.
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Tracy Wood
OP
Southaven, MS · Member since 2024 · 3 posts · 1 vote
1y
@John Underwood @Michael Baum
Thank you both for the recommendation. I have sent a message to Avery Carl here on BP and hope to get a response. Will graciously accept any other advice and/or recommendations in the meantime!
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Travis TimmonsPro Member
Rental Property Investor · Ellsworth, ME · Member since 2021 · 1k+ posts · 2k+ votes
1y
Unless you have a particular attachment to that market, I'd recommend doing some research to find something with a better cash on cash return. I don't know why, but it feels like a rite of passage for every new long distance STR investor to kick the tires on the Smoky Mts. It's a tough, mature market.
It has been a while since I have seriously looked there, but it seems to just be a bet on appreciation. Self managing an STR is a lot of work to not realize any real cash flow.
The easy money is gone as I see it in every market, but you can find an MLS deal in a lot of markets that'll get 12-15% cash on cash if you are patient and have some subject matter expertise.
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Matt Mertz
Leander TX · Member since 2020 · 179 posts · 150 votes
1y
Congrats on starting your journey.
We have a nice cabin that sleeps 16 in Gatlinburg. Started in 2021. We're happy with it.
Random advice:
Podcasts are a great resource and easy way to learn. Get Paid for Your Pad, Thanks for Visiting, Vacation Rental Success are all good. Plenty more out there.
The Smokies market is getting saturated so you need to stand out.
I know people with 1-2 bedroom condos. Those are not doing good right now.
Basically do what you're doing now. Reach out, learn more about STRs before jumping in. Sentiment seems to be cooling on the investment worthiness of STRs, but maybe there's opportunity hidden in there because of that.
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Andrew SteffensBusiness Member
Tampa, FL · Member since 2022 · 3k+ posts · 3k+ votes
1y
I would also consult with @Collin Hays He is an experienced PM there an can probably give you some tips and recommendations!
[email protected]813-563-0877
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Leora Merrell
Rental Property Investor · Member since 2019 · 276 posts · 235 votes
1y
I have a handful of cabins there. It's been great to us but we bought before the boom. I suggest you tread very carefully in the Smokies if you want to make money these days. Use a realtor that not only invests there but lives there.
That said, I learned everything from reading every page on this STR forum for days and by joining STR Facebook groups and just reading and reading. You'll learn a lot more and a lot faster than talking on the phone to someone for 30 mins.
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