Buying a Top Performing Investment Property in the Smoky Mountains
I own 10 top performing cabins in the Smoky Mountains. Here’s what to look for when buying an investment property in Eastern Tennessee.
If you’ve decided to buy an investment property in the Smoky Mountains, you’ve made a great choice. This vacation destination hosts close to 14 million guests each year simply because of the beauty of the mountains and the fact that the national park is free to visit. Eastern Tennessee is also home to many wineries and distilleries, even moonshine can be tasted locally! Fun for the whole family can be found at places like Dollywood and Anakeesta. With all of this in mind, where do visitors want to stay? How can you be sure your chosen investment property will perform well? Read on for what it takes to have a top performing investment cabin in the Smoky Mountains.
Investment Property Type
First and foremost, you must make sure the investment property is a cabin! It needs to look and feel like a cabin to perform at top dollar. All travelers to the Smokies are coming to stay in a tried-and-true cabin. These discerning tourists are looking for that non-camping, luxury cabin vibe. They want to know and feel like they are somewhere special. Tourists will be reminded of the cabin theme as they visit many local restaurants and attractions – which all also give off that same cabin vibe. Could a non-cabin perform well here? Yes, they absolutely can, however you will not get the same nightly rate that you could by offering a cabin.
Next, your location is the second most important factor for you to consider. Your vacation cabin should ideally be located within a 20-minute drive to three key destinations which tourist love to visit during their time in the Smokies. These three destinations are Dollywood, Ripley’s Aquarium and The Island. These three tourist attractions represent the three corners of what I like to call the Smokies triangle. Within these boundaries lie the majority of all tourist attractions that visitors will want to see while they are in Eastern Tennessee.
The last important factor when considering a potential investment property are the amenities you will be able to offer guests. The main amenities that are sought after in the Smokies are hot tubs, pool tables, and mountain views. If you are able to offer all three amenities you’ve got what I’ve dubbed the Smoky Mountain cabin trifecta! Congratulations, your cabin will rent like crazy, and you’ll barely be able to visit it yourself.