Atlanta, GA · Member since 2014 · 240 posts · 130 votes
Hello BP!
I wanted to introduce myself. My name is Josh, and I have been investing in long-term rentals in Atlanta for four years. The market's on fire here, so I thought I'd try a new strategy -- vacation rentals in Gatlinburg / Pigeon Forge!
Thanks to Lucas and Avery Carl (top contributors in this forum), I have acquired my first cabin, and we have our 7th guest staying there right now. It's been an exciting journey, and though I am a little nervous about it, I'm also enjoying the ride.
So, just saying 'hello'! Please reach out -- I'd love to connect with you, especially if you are renting cabins / condos / etc. in this area.
Welcome @Joshua Feit and congrats. I have two and looking for #3. Spent last night doing the books and my ROI has been incredible. Couple of suggestions if you don't already know -- have Avalara MyLodge handle your local occupancy tax submissions ($20/mo). Use OwnerRez.com for consolidated messaging, rates, email automation, and more. Wix.com for a website if you want to take direct bookings and save on fees, keep your cleaners happy (pay them well and tip at Christmas, etc), join the Smoky Mountain Owners Facebook group which is chock full of helpful people.
Oh, and if your HVAC unit is more than 6-7 years old just replace it. HVAC has been my #1 problem.
Welcome @Joshua Feit and congrats. I have two and looking for #3. Spent last night doing the books and my ROI has been incredible. Couple of suggestions if you don't already know -- have Avalara MyLodge handle your local occupancy tax submissions ($20/mo). Use OwnerRez.com for consolidated messaging, rates, email automation, and more. Wix.com for a website if you want to take direct bookings and save on fees, keep your cleaners happy (pay them well and tip at Christmas, etc), join the Smoky Mountain Owners Facebook group which is chock full of helpful people.
Oh, and if your HVAC unit is more than 6-7 years old just replace it. HVAC has been my #1 problem.
Just wanted to say hi to the other cabin owners. I have 3 that I've acquired since May, and am happy I jumped in. If it's worth doing, it's worth overdoing.
Welcome @Joshua Feit! We live in central Illinois and manage some units in Branson, Missouri from afar (about 6.5 hours away). It's so easy if you have the right team in place on the other side. Our next STR search has us checking into Pigeon Forge, as well. I'll definitely be speaking with the Carls when the time comes! I have a cousin who owns some STR's there, too. Congrats on your purchase!
@Cassandra Mack Yes! I have another one under contract right now in Wears Valley. I plan on seeing how these two go, and if all goes well, then yes -- would consider more STR acquisitions in the near future.
@Dave Homyak Hi! Good to meet you. Where are your cabins? I have one in Shagbark and another under contract in Wears Valley.
Wears Valley, one in Gatlinburg, and one 10 minutes east of PF.
@Dave Homyak How well does your cabin do in Shagbark? I'm looking at one for sale there, but nervous about being so far out. I have a 6br right in PF and guests often rave about how they liked being to close to town
@Tim Schroeder I have the cabin in Shagbark. I had messaged Dave to let him know that. I'm not sure if he has one there too.
I've only had mine listed since December. So far, December booked up very quickly. January has been mostly long weekends with a couple of midweek trips. About 12 vacant days. Same for February. March is filling up fast, and Apr/May/June are looking on track to be very full months too.
From the guard gate, it's really only five miles to The Island / Kroger / mountain coasters. It's not nearly as close as yours, but it doesn't feel far. I also really like the feel of the neighborhood. I think it appeals to people that like a more nature-oriented mountain getaway.
Here's hoping that the cabin does as well as everyone tells me it will. I'll let you know once I have some more experience under my belt.
Hey @Joshua Feit, I came across this thread as my husband and I are in the process of purchasing a STR in the Smoky Mountains. This will be our first, and we are excited to take the leap, but looking for a good buyer's agent in the area. We were pointed to one by our mortgage company, but the communication has been lacking. Do you have one who has worked well for you? Thanks!