All Forum Posts by: Chuck Kramer

#1 market in the USA is the Smokies. Despite a run up in prices, good returns can still be had. Contact @Avery Carl here on BP. She has a good program and her podcast lit the fire under a lot of people regarding STR investment.

@Kyle Smith If cabin is on septic and/or well, consider that too. Taking a "heads in beds" approach can be rough on a cabin's plumbing and mechanicals. 

The more people you add, the higher the wear and tear on the cabin, furnishings, decor, etc. Also consider the amount of parking you have. 

If you are in Gatlinburg city limits, crossing that 12 people mark means extra regulations (sprinkler system for example) and a change in zoning to an R1 or R3.

I have always done well with TN Land Title in Sevierville. Good people and reasonable costs.

The only odd thing to me is the disbursement fee. The rest is somewhat in-line. Every local title company is swamped these days and all have raised prices because...why not? But that looks too high. If you have time, you CAN shop it. You are the buyer and can choose.

2 different markets there. 4/3 is a family thing whereas 4/4 opens up more rentals to "friendcations".

Both will do well in the Sevier County market.

Glad to hear and thank you for your service! Wish I could get my enlisted offspring to focus like you did!

It is extremely hard this year. With no work visas issued, that reduces the workforce by about 2,000 people, and we have a record numbers of visitors. Cleaning companies are overwhelmed and even many independents have become unreliable as they are overworked. You already mentioned my recommendations and the few independents I know are eaither quitting or not taking on new cabins.

Keep checking. There are some very good Facebook groups you can join and ask as well.

It does with Airbnb, if you choose. I keep most of mine in email at present with just a "Thank you for booking" message via the platform.

They are not yet integrated with Vrbo platform messenger.

@David Goodman Once things reopened here in Sevier County on May 1, people flooded back in. According to local governments, occupancy is around 90% or more (measured by tax revenues). Nearly every business is packed and short-handed on staff. Mahor exceptions are dinner shows (still closed voluntarily), water parks, and Dollywood. People are opting to come but apparently don't want to be in areas where crowding is a potential issue. The mask mandate probably takes some blame too as it has also been *hot* this year.

@Avery Carl is right about bookings and rates. Many owners using pricing tools are seeing 50, 60, and even 100% higher rates book quickly this year. Our own cabins are booked at about 90% even in September, which has tended to be a slower season in the past. 

So, in short, "it's hopping"!

Since you will not be renting it yourself, you might be better off closing in your own name and getting higher liability protection. The rental company will take most of the brunt in case of a legal action.

Ultimately, your accountant and attorney should be consulted.

TN has been tight with the FONCE exemptions over the last year and have rescinded at least several issues to LLCs. The exemption was originally intended for personal ownership.

Having property in your name, at least in Gatlinburg (city) will also avoid their City Gross Tax.