Investing In A Smoky Mountain Property
Investing in Gatlinburg cabins can be fun and profitable. However, buying Gatlinburg TN homes for sale and Smoky Mountain Vacation Home for Sale are not the same as buying cabin for sale in Gatlinburg TN. If you are buying a Gatlinburg home or Sevierville Tn Homes For Sale then this article is not for you. To maximize your return you have think like an investor. Forbes Magazine has an article that names Sevierville TN as the top location to invest in overnight rental properties (Smoky Mountain Gatlinburg Cabins.) Please click Forbes to read the article.
As a Smoky Mountain cabin investor you have to think not about what you like but what the guest who is renting your cabin whether its in Gatlinburg or Pigeon Forge wants. As the old saying goes Location Location Location does matter.
For example one of the most successful overnight rentals is a house converted into a cabin located 1/2 mile from downtown Gatlinburg. The house is very well maintained. It has mid range stainless steel appliances. It has four bedrooms and three bedrooms. It has a basic cabin decor but that could use some improvement. The house stays rented every night. Why? one simple reason LOCATION. This property recently came on the market and was offering an amazing 13% return. My client refused to buy it because it did not have a cabin feel. This property was offering almost twice the return of a traditional cabin and with a few tweaks even more. The reason my client did not buy it; he was thinking about what he wanted in cabin not what that most guests wanted THE LOCATION.
Another cabin I recently viewed for a client was a very nice looking on the exterior Pigeon Forge Log cabin for sale. The outside looked very nice and was very well maintained.
The cabin was for sale because the owner was only getting about fifty percent of the rentals he should have. Once you walked in the cabin it was obvious why no one wanted to rent it. The cabin was decorated with memorabilia that was not suited for a cabin. The owner was not thinking about his guests wanted. He was thinking about what he wanted.
Another cabin I recently viewed was located in one of the better resorts. The cabin was for sale because the owner was not getting the return she expected. The rental rates on this cabin were low. Once you walked in, you saw the torn carpeting. In the kitchen you saw an oven with a missing door. The sofas had tears in the fabric. The furniture looked as if it had come straight from the used thrift store. The management company practically was giving away nights because of the condition.
The profits from investing in Smoky Mountain cabins can be very lucrative. My favorite is cabin in Pigeon Forge with pool. This is an article in Knox News about a very young man just out of of college making six figures a year by renting out Gatlinburg cabins. My take is he can not be that sophisticated or knowledgeable about homes for sale Sevierville and stumbled into the Great Smoky Mountain vacation home market after the Gatlinburg fires. This is a link to the article in Knox News
One of the most important lessons in buying cabins for sale Smoky Mountains is to think like an investor. Think about what people want in the cabin they rent: location, nice amenities, they want to feel special. They come to have fun. Renting the Smoky Mountain log cabin for several days is a big event to them. Please review other pages about buying a cabin. This one is very helpful Successful Cabin Traits