Collin HaysPoster
#4 Short-Term & Vacation Rental Discussions Contributor
Property Manager
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#4 Short-Term & Vacation Rental Discussions Contributor
- Property Manager
- Gatlinburg, TN
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Gatlinburg: $1000 psf
Collin HaysPoster
#4 Short-Term & Vacation Rental Discussions Contributor
Property Manager
Pro Member
#4 Short-Term & Vacation Rental Discussions Contributor
- Property Manager
- Gatlinburg, TN
I figured this day was coming. A good friend of mine just bought two-500 sq ft rental homes in Gatlinburg for $1 million. Granted, these are near downtown and right on the Roaring Fork River.
This isn’t an out of state speculator; he’s a seasoned local pro, and said the numbers on this work quite well.
Still, incredible.
- Collin Hays
- [email protected]
- 806-672-7102
SMOKY MOUNTAIN FALLS INC.
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Nathan Gesner
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- Cody, WY
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Do you actually know the numbers? If each unit rents for $175 a night for $300 nights a year, that's only $105,000 before expenses. A good long-term rental will earn 1% of the purchase price monthly, which would be $10,000 per month or $120,000 per year. So the earnings are quite a bit lower than a long-term rental and that's before considering the additional expenses (utilities, lodging taxes, landscaping, etc.).
- Nathan Gesner
The DIY Landlord Book
248 Reviews
4.7 stars