Goal for this year…but a cabin in the smoky mountains

[Sean Starkey]

So I need HELO with creative financing solutions. My family does not want to invest in real estate they are too scared. I am not scared. I have one STR and have a blast managing it by myself from over 100 miles away. I want to buy a cabin in the smoky mountains and I only have 10k to invest. I'm going to need a lot more than that to buy a cabin. Can anyone help me with creative financing solutions to get my cabin this year?

[Ken Boone]

Yea I'm with @Leslie Anne Morris There are no deals in this market.  It is getting to a stand still.  Prices went too high too fast, newbies jumping in last year paying those high prices with 10% down loans and basing their analysis based on last years numbers.  What I see is that most folks that want to buy don't want to pay the high prices right now, and most folks that want to sell don't want to lower their prices because they saw how much stuff sold for last year and think they can hold out and still get that.  Then there are those that have to sell for whatever reason.. death, divorce, etc..  That is about the only place you are gonna find something and it still won't be "a deal".  What I think we are going to see, is those that bought cabins last year with a mortgage are going to find they will not hit the numbers they forecasted for making the deal work last year.  Then they are going to find out they are not profitable because they didn't buy right and after x amount of time, they are going to have to exit and exit at a loss.  Not everyone of course, but I think a good percentage.  And that might take another year or two to sort out.  But that's my 2 cents and that is about all that is worth ;)