Updated over 2 years ago on .
Gatlinburg Cabin Development
Investment Info:
Single-family residence other investment.
Purchase price: $500,000
Cash invested: $500,000
I am building a cabin in Gatlinburg for short-term rentals.
What made you interested in investing in this type of deal?
SHort term rentals are booming and the Gatlinburg area is strong.
How did you find this deal and how did you negotiate it?
I am a professional realtor and searched for a couple months and negotiated the land purchase down from $115k to $84k.
How did you finance this deal?
Cash
How did you add value to the deal?
Projected the cost to build and furnish then I checked the comps for similar houses in the area.
Lessons learned? Challenges?
It is way faster to buy an existing structure and remodel than to build from scratch.
Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?
Michael Keith Team michaelkeithteam.com
