All Forum Posts by: Matt Castle

Knoxville has been a hot market for several years now. 

Anything downtown near UTK, the hipster districts near Fourth & Gill, or just general south Knoxville is red hot for flips. 2+ unit properties are very hard to find but we see them occasionally. 

Just get ready to fight dirty, throw elbows, etc. 

I work the Smokies STR market only and it's rare for any of our investors to see their property before closing. They might visit after closing but I'd say 80% or more never see it before closing.

Even if they fly/drive into town, chances are slim investors can even view it b/c most cabins are booked at 80-90% occupancy. We can occasionally sneak them in during the check out & cleaning period b/n guests but it's a 4-6hr window, or they can buy during the semi-off season we have from Jan to April. 

@Arpit Guglani great idea! Inventory is tight but if you're willing to renovate, you have a lot more options available to you. 

I've worked with several investors near UTK. Many of the homes near campus could use a renovation. Your biggest competition will the be large multifamily complexes with 50+ apartments that are new or newly renovated. Tons of opportunity though. 

I'd also consider a few areas in Old City Knoxville, Fourth & Gill, as well south Knoxville. Lots of opportunity for growth but also lots of competition. 

Johnson City, Chattanooga & Knoxville are hot spots for long term rentals but get ready for competition on anything LTR b/c you'll be competing against other investors and home buyers. 

Smoky Mountains are well known for short term rentals, but the long term rentals are in high demand as well. The service & tourism industries, from what I've heard for the last 6mo, are in dire need of affordable & quality housing. 

If it's already a triplex, why not build another similar triplex on the available land? Rehab the current triplex, build another and you have 6 units. Obviously check with zoning dept before taking on something like this, make sure you've checked everything else possible, then collect those rent checks! Lots of people moving into Maryville looking for affordable housing so sounds like a great opportunity for you. 

I'm with Avery's Short Term Shop. Reach out if you still need assistance. 

Welcome to Knox. It's not NYC, but 40 will resemble the L.I.E on occasion. Throw a rock in any direction and you'll probably hit a realtor so pick one who has a long list of investor work on their resume. 

@Ayana Morali not legal advice here but I would send a demand letter by registered mail so you know they received it. Give a 5-10 business day reply based on your needs.

You can also try filing a complaint with your local BBB if they will allow it. Call them up and ask. They'll let u know if HOA complaints are allowed.

Lastly, hire an attorney. If you’re sufficiently angry now and you want heads to roll, skip the above steps and start here.

Any STR Gatlinburg cabin owners gotten their hardwood floors refinished? If so what was cost?

@Clay Bradley I'm in Knoxville and work mainly with investors. It's a good mix of both appreciation and cash flow, although, cash flow is not what it was. Most owners are savvy enough to know what they have and they're asking premium prices for homes that haven't been updated since Nixon was POTUS. 

I keep a list of potentials so look me up if you want to see a few.