Cabin @ Pigeon Forge, TN
Investment Info:
Single-family residence buy & hold investment in Pigeon Forge.
2nd Home vacation rental.. Self managed
What made you interested in investing in this type of deal?
I was in the corporate world for 15 years.. just got tired of the rat race and decided it was time to start investing in real estate and planning our retirement strategy.
How did you find this deal and how did you negotiate it?
Found the property thru a realtor friend, and negotiated best price on it. Decided we would try the vacation rental to help offset the cost of owning a second home.
How did you finance this deal?
Financed as a second home.. 10% down, pretty standard.
What was the outcome?
The final outcome is we own the property.
Lessons learned? Challenges?
Buying in the vacation rental market is very different than buying a primary home. Its much quicker and you have to be ready to move quickly.
Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?
Yes. Avery Carl was the realtor and Parker Borofsky was the financial officer. Both did a great job, and I would highly recommend them. Both are members on Bigger Pockets.
