Updated over 5 years ago on . Most recent reply
TN Cabin in Smoky Mountains
Investment Info:
Single-family residence buy & hold investment.
Purchase price: $615,000
Cash invested: $36,000
Contributors:
Jordan Grigg
Rental Cabin in the Smoky Mountains.
What made you interested in investing in this type of deal?
The cashflow to support other investments
How did you find this deal and how did you negotiate it?
Found it on Realtor.com. negotiated with our realtor to theirs.
How did you finance this deal?
Vacation loan of 10% down.
How did you add value to the deal?
Staining, updating all decor, added smart locks, LED light bulbs, repairs, new AC and deep cleaning.
Lessons learned? Challenges?
Don't skimp on the little things as it will cost you more money to replace once you are up and running. Buy something of quality.
Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?
Gennifer Mix! Rockstar
Most Popular Reply
We are working with Avery too, i also have a partner that we would like to go half on a cabin with. I was always curious how that gets structured. My goal is to wind up with one im in half on and 1 that is just under my name by the end of the year. The paperwork and legal splitting on the joint one has raised some questions.