Don’t do this when Buying a Rental Cabin
In this article we’ll go over what smart investors look for and avoid in their Smoky Mountain Cabin rentals. So you don’t buy a property with zero income.
Thinking about buying a Cabin Rental in the Smoky Mountains but don’t know where to start?
Whether it’s going on AirBNB, VRBO in Gatlinburg, Pigeon Forge, Wears Valley, or Sevierville...
In this video we’ll go over what smart investors look for and avoid in their Smoky Mountain Cabin rentals so you can be sure to get the biggest return possible on your investment.
If we haven’t met before, My name is Lucy Hood and I’m a top producing Realtor that specializes in investment cabins & homes here in the Smokys.
Watch for zoning in Pigeon Forge. You always want to look for R-2 or higher, Avoid R-1 Zoning in Pigeon Forge. If the home is zoned R-1 it is not allowed to be overnight rented. This is a law that the City of Pigeon Forge passed in 2018 and not many people know about it. I actually represented a client that had to sell a cabin 2 months after she purchased it because the Realtor she used to purchase DIDN’T KNOW THIS RULE, and she got an unpleasant letter from the city asking her to cease and desist her overnight renting.
Check out the steepness of the property & take a look at it from Google street view when possible. Many homes especially in Gatlinburg can be on a one lane road going straight up the side of the mountain. Some you need a mountain goat to get to. When it gets snowy around here you don’t want guests to avoid your cabin because of the roads they’ll have to take to get to it. Also, Take into account how important a yard is. Were you hoping for a firepit or hot tub? Amenities like this can really help your Cabin Rental Shine.
Double check the water and sewer situation. These are some of the most expensive fixes a new investor can have. Many homes, especially in Gatlinburg, have trouble getting water way up on a mountain top. If the well is deeper than 500 feet or is shared with another property you could run out of water. Also check the septic permit, a home can only be advertised for resale for as many bedrooms that the septic is permitted for.
For example, if you have a 4 bedroom house, but the septic is permitted for 2 bedrooms, you have to advertise it for resale as a 2 bedroom house that also happens to have 2 bonus rooms. - - - You can check out Sevier County Environmental health for more information on utility information on the investment property you’re interested in.
Having trouble deciding whether you should self manage your cabin rental Or hire a Pro?
In my next video we’ll go over the pro’s and cons for each and help you out of indecision purgatory.
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