New to Real Estate · Washington, D.C. · Member since 2019 · 4 posts · 4 votes
Hi All!
My name is Kelsey and I am just beginning my journey in the real estate business alongside my husband Michael. I am 26 years old and currently work as a public elementary school teacher. I see real estate investing as a vehicle for long term wealth and financial freedom and plan to quit my teaching career and manage/grow our investment portfolio long term.
We are looking to enter the market in short term rentals in the Gatlinburg, Pigeon Forge, Sevierville area of Tennessee. Our primary residence is just outside of Washington, D.C. so this would be managed remotely. We are looking to invest in the $200,000 - $300,000 range and would like to acquire 2 properties per year for the next 3 years. We also plan to invest in long term rentals in a cash flow positive market using the returns from short term rentals.
I would love to connect with anybody that has experience in this market and can offer some insight!
@James Rowe if I had it to do over I would have started with larger. But I was in the same boat as you when I started. I didn't have enough capital to get a big one, so I bought what I could afford as soon as I could afford it, so I could get cash flowing now. All of mine are 1 and 2 beds, and their cash flow has bought me 10 properties in the past 2 years. So they are doing exactly what they need to do. Is bigger a higher ROI and more efficient? Yes. Is small a wrong decision? No. There is no wrong way to do it!
I’m also a “outside of DC” resident investing in the area. Set to close on my first cabin in 2 weeks with the help of @Avery Carl and @Parker Borofsky. Hoping to 1031 into 2-3 more this spring. We’ve got a growing group here! Can’t wait to get going!
Following up, just listened to Avery’s podcast. We are putting %20 percent down to avoid Pmi. Listening, it sounds like I could do 10 and potentially buy another in a year after generating some income. Also, do you recommend a minimum number of days for a stay and doesn’t his voice art does urging the the year? I’m thinking we may try self managing first after talking. To a few people a and reading some of these posts! Thank you all!