Real Estate Q & A for the Smoky Mountains
Coming to the Great Smoky Mountains for a vacation is like no other you may experience. First of all, this is a driving destination. Our closest airport is about 50 miles away. Second, the Great Smoky Mountains are within a days drive of 1/3 of the nation. And Third, we get over 9 million visitors yearly through our towns, county and great National Park. Now that is a lot of tourism!!
When you decide to come here, the allure of renting a beautiful log cabin with a view and in the mountains is most likely a prime target for your lodging needs. This is a fantastic area to fulfill that particular dream for your romantic weekend or the weeks’ vacation with the entire family.
That cabin you are renting for the week belongs to someone, and they have contracted with a rental company to maintain it, service it, and keep it occupied on the preface of receiving a good return on their investment. Here are a few things you should know if you were thinking about investing in the Great Smoky Mountains…
Q: The cabin I am staying in is with ABC rental company, do I have to keep it with them?
A: No, you do not. There are an abundance of cabin rental companies in our area and you are the only one that can make the judgment call on where to place your cabin after you have all the financial details and history of your particular future investment.
Q: The cabin that I am staying in is for sale, and I noticed that there are a lot of for sale signs on cabins here, why?
A: What you experience here is investment homes or second homes rather than residential and when the depreciation tax schedule has expired or is at its end they sell and often buy another property to take advantage of the depreciation tax schedule all over again, about every 3 to 5 years. Additional information on this topic should be discussed with your tax professional.
Q: I love the cabin that I am staying in but the drive here is on a very winding road and I would like to purchase one that may be on a better road.
A: Because most of our cabins are located on the mountain side, the road getting to them can be a bit curvier; however, there are plenty of properties here with flat straight roads that you may purchase.
Q: What costs are involved with putting my cabin on a rental program?
A: Each rental company sets their own pricing or split and that should be discussed with your desired cabin rental company so you have all the facts and answers.
Buying an investment property that you plan to put on a rental program is a fantastic opportunity for you to get your feet wet in the real estate market. What better place to enjoy this comfort than right here in the Great Smoky Mountains of East TN.
Great Rental Properties for Sale:
3 Bedroom/3 Bath/ 2,223 square feet
Rental Income for 2013 – $38,427
3 Bedroom/3 Bath/ 2,688 square feet
Rental Income for 2013 – $31,665
3 Bedroom/3 Bath/ 2,082 square feet
Rental Income for 2013 – $39,079