5 Best Cabin investment strategies in Gatlinburg and Pigeon Forge.
You may be ready to expand your portfolio and you are wondering what are the Best Cabin investment strategies in Gatlinburg and Pigeon Forge are? In this blog I am going to give you a couple of tips and insider information to help you choose the Best Cabin investment straggles in East Gatlinburg and Pigeon Forge.
- OCCUPANCY IS KING! When you are choosing to purchase a cabin you plan on putting on the overnight rental program or if it is already on a program occupancy matters. The competition out there is extreme and supply and demand says that there are fewer 4+ bedroom cabins then there are 1 bedroom cabins.One of the most wonderful things about the Gatlinburg and Pigeon Forge is it is not only a place for families but a place for MULTIPLE FAMILIES! I not only own a couple cabins myself on the rental program I manage several others and I can tell you that most people are traveling with 2-4 families. It is not uncommon to have multiple families in a single cabin. So when you are choosing what the Best Cabin investment strategies in Gatlinburg and Pigeon Forge are you have to keep that in mind. A good rule of thumb is to think a minimum of 6 person occupancy.
- ROADS MATTER – Let me address the obvious statement……you usually cant have both. If you want an amazing God in your face view, it is going to usually take a very steep curvy switchback road in order to put you at the cabin. I love cabin views. Absolutely love them. However I will probably never purchase another one for view only. I will tell you that during my first 2 years in the business I only had cancelations during the winter from one property – The one with the amazing views. Remember that even though you may have a 4×4 the average family coming from Ohio or Florida does not and even though we do not get much snow in East Tennessee, we do get some and if your road is incredibly steep or narrow it will effect rentals. One of the Best Cabin investments in Gatlinburg and Pigeon Forge are going to be the one that is easily accessible. If you decide to rent your cabin on your own or use an agency to rent it for you the question is going to come up often on how difficult the roads are.
- DITCH THE TUBE – Please everyone…..its 18+ years into the new millennium. You can purchase a 50 inch LCD Television for under $400 now and I think they give away 32” at checkouts now. Yet there are cabin companies that have tube televisions in their cabins. If your wanting to know the Best Cabin investments in Gatlinburg and Pigeon Forge then don’t come across cheap. If you have a $25.00 television in the bedroom what kind of sheets would you have? Having outdated electronics gives the guest the impression your running a sweat shop and not putting comfort first.
- CLEAN IT UP! Most guests are very easy going that visit this area which works in your favor. However nothing is going to make them upset quicker then if they get into bed and the sheets do not smell freshly washed or there is hair in the jacuzzi tub.We have in the industry what is know as a “turn”. That means that someone checked out in the morning and another guest is coming in the afternoon. Most of the times this is a 6 hour turn around time at best! That means the family of 10 that stayed for a week needs to be completely erased from the cabin’s memory in just 6 hours and the average cleaning company could have 2-4 turns in one day! Make sure you are vetting your cleaning company thoroughly. Another one of the Best Cabin investment strategies in Gatlinburg and Pigeon Forge I can give you is be sure to check the reviews of the cleaning crew. How do you do that? Easy….get a couple names of cabins they service and read the reviews. You will know right away if the cabin is clean or not. No news is good news.
- SOAK THE NIGHT AWAY – OK, this should have been #1 but I will tell you that you must have a hot tub. Your property has to has to have a hot tub. Every area is known for something. Smokey Mountain cabins are known for hot tubs . There is nothing like soaking at the end of a busy day after tooling around the mountains.
I hop this has been helpful for you and you learned a couple of the Best Cabin investment strategies in Gatlinburg and Pigeon Forge and maybe you are one step closer to making that investment. As someone who has been in the Real Estate industry for over 15 years and have weathered Real Estate ups and downs I would love to help you.
I am an East Tennessee transplant relocating from Ft. Lauderdale, FL in 2007 to pursue real estate after spending a couple of vacations here. I purchased my first rental cabin about 5 years ago and just did not leave. I own several rental cabins and I am very familiar with the area and the insides of the industry. When picking an agent its important that you have an agent that is doing what you plan on doing. I would feel uncomfortable ordering from a waiter that does not eat at that restaurant. Same theory would go for an agent that does not engage in what you are interested in doing.