All Forum Posts by: Rhonda Blue

@Richard Haug Sorry but there is a lot of misinformation out there. This is from the KNOX.com news

After months of stops and starts, the Knoxville City Council approved the city’s proposed short-term rental ordinance on second reading Tuesday. The vote brings oversight to a growing business that had gone unregulated for several years.

The ordinance takes effect Jan. 2 and will allow short-term rentals (STRs) in owner-occupied homes in residential areas and in any nonresidential district so long as the renter is properly permitted.

This is in the city limits. Other cities have similar programs. My understanding is they want the Owners to be registered in order to collect the proper taxes. 

Also

Sevier County big for Airbnb

""But far and away the biggest draw was Sevier County. Cities there have a total of 790 Airbnb hosts, who saw 106,000 guests and made $12.9 million, according to the company. Knoxville, Gatlinburg, Pigeon Forge and Sevierville are all among the top 10 home-sharing markets in Tennessee, Airbnb reported.""

New ordinances are being voted on every day and I do not for one second say I'm the expert but I do read the local news for the areas that I invest in to make sure try to stay informed. 

knox.com is a great resource as well as the local Greater Smoky Mtn Real Estate Association. 

I own and rent both Long and Short but also am an affiliate broker so It's definitely important to make sure I am sharing accurate information. BUT hey I am definitely NOT a tax professional. 

@richard Haug 

My Short term rentals are not in Knoxville proper? Im sorry you were told information that does sound discouraging. 

I listed a triplex in the marketplace in S. Knoxville for a fellow agent. I also know of 2- 4plexes in Huntsville that are not listed but available for a great price. 

To answer your question my vacation rentals are in Sevierville. I will PM you. I really love having the Long term rentals in Huntsville and the Vacation rentals here. We are also looking into a commercial space soon. 

Have you thought about Knoxville?, East Tn is absolutely Gorgeous and there are great returns to be found here.

@Matt K. For me its what your comfortable with regarding travel expense. A few times instead of driving I flew to vegas for $50. Then rented a car and drove to St George. Signed leases and did walk thrus then returned car. Flew home same day. Less than $200 expense for 2 year lease. O so many adventures.

Great job, always good to hear success stories!

Sorry you have had that experience. My PM in Huntsville, AL has been exceptional...

@Emmanuel Fortune That is what I did as one of my strategies, Also While we lived in SoCal I bought in Huntsville, AL areas I already knew. Its always easier to buy what ya know.

Out of state investing. When I first started it was the same as it seems to be now. Sadly. So I blazed my own trail. LOL because in SoCal where we lived my small 40K wasnt going anyplace. I decided to invest within driving distance of a day. 8 hrs and so bought 2 properties in St George UT. Rented them right away and made solid 15% return cash on cash. I also bought 2 Long term rentals in Huntsville,Al and have those with a PM sight unseen. I worked primarily off the numbers. Now flash forward 5 years and Ive sold the original investments for a hefty profit and exchanged those for 6 in East Tn and 2 more in Huntsville. Im still always looking for the next deal. My advice. Dont listen to NA sayers. Know what you want, do your research, know your numbers, make connections. Reach out dont be afraid to ask questions. For every one person who pushes you back there will be one there with a life line. PM me anytime

Destin, FL.... Absolutely beautiful and the water is always warm.