All Forum Posts by: Brian Harris

Hey everyone, I am 100% new to real estate investing and was hoping to get some advice. I started looking for a STR opportunity in TN or NC that is near my mom (to visit sometimes!) and Sevierville caught my attention. The Airbnb calculator estimated higher returns than in most places I've looked, as did local property managers. So I wanted to ask: has STR revenue decreased as bad as it looks, particularly in 2023? I see that many of the places in Sevierville were purchased in 2022, listed 2023, sitting for 100+ days. This really creeps me out, despite claims that there are tons of opportunity (mostly from real estate agents).

Example:

List Price: $699,000

Airbnb Calc: $92k/yr

Property Mgmt Est: $85-95k/yr

WOW!

Articles: Sevierville -49% YoY
OH NO!

I have a trip planned for next week to go view properties, and I'm sort of thankful that my wife put insurance on the tix! Please let me know your thoughts about the area, real experience in '22/'23 and this year super appreciated. Thank you very much and good luck hunting excellent opportunities!

Thank you so much for the detailed response. I think we are holding off for now, the timing is a little bad, but may continue looking into mountain cabins.

Hi everyone,

My wife and I have been wanting to buy a place in NC for STR / personal use a couple times a year to visit my family. We saw an off-market listing on Facebook in a local market type of group. 2 red flags right there, but wanted to see how people would deal with this. My mom spoke with the guy (she lives near there, I'm on the other side of the USA) and was going to meet with him tomorrow. He claims he's selling for his friend who has medical issues. This feels like a major scam, but is a super nice looking property so I'm torn. Of course I told her don't give him any money, we'll find a way to verify that this person can sell the property.

Sketch scam or protect ourselves and find out?

Thanks so much, I am new to all this and don't want to waste time or money.