Possibilities for Low Priced Log Cabin Investment in the Great Smoky Mountains Region
The real estate market continues to provide an atmosphere for low costs for vacation and second home log cabin properties in the Great Smoky Mountain region. Cabins located in Sevier County near Gatlinburg, Pigeon Forge, and Sevierville are still providing in this market excellent rental revenues. The log cabins are located in an area that is one of the most visited vacation hotspots in the country. In today’s real estate market, particularly with the distressed property seen in all parts of the nation, these log cabins may be among the best investments that are available in real estate. When all of these factors are combined with the fact that the local economy has not been hit as hard as in other regions, log cabin investment for private vacation or for rental property may well be one of the more desirable options at this time.
Low Prices with Positive Cash Flow for Rental Cabins
As this article is being prepared, we are offering a group of log cabins at a little above one-half of the appraised value, or 80 percent of the last advertised price by the bank-owner. As an illustration, one of my favorites in this group, the seller will take $184,000. It is listed for $230,000, and the tax appraisal for it is $330,000. The rental income last year (2009) was $45,514. Revenues for the group ranged from $24,000 to over $45,000 in 2009. These log cabins are being offered at a very attractive price yielding positive cash flow. Obviously, by the time this piece is published and you have read it, this group of log cabins will be gone. However, there will be more log cabins on the market that should offer similar appealing financials.
Exceptional Setting of Smoky Mountain Log Cabins.
Millions come annually to the holiday attractions of Sevier County, Tennessee, and they continue to come. The number of vacationers to this destination has held up well during the recession. They may not spend as much as in the past, but they do have to spend on a place to stay, and log cabins are a part of that sector. The Great Smoky Mountains National Park is the most visited national park in the nation. A lot of cabin properties are next to, or are very near, the park. Dollywood, the exceptional theme park, is located in Pigeon Forge. In fact, the Dollywood theme park won the 2010 Applause Award, which was received by Dolly Parton in Orlando in November 2010. The county abounds with restaurants, entertainment locations, and shopping opportunities for just about everything, and has all you want in terms of mountains, lakes, golf courses, and parks to allow visitors to get outdoors and enjoy hiking, rafting, boating, fishing, or just picnicking. So, any log cabin investment you make is going to be protected substantially by the wonderful gift of nature that exists and the outstanding investments people have made in the area.
The Great Smoky Mountains region is a place of magnificent beauty, gracious neighbors, low cost of living and sensible government. It really is the perfect location to work, raise a family, retire, and just simply enjoy life. This place is a little slower, a whole lot friendlier, not as restrictive, and way lower when it comes to taxes. If you enjoy mountains and lakes, along with first class attractions, you should enjoy coming to the Great Smokies for your holidays. If you like it enough, it may make sense to acquire your own cabin and, in reality, “Own your own Vacation”. You can purchase your log cabin at this time while prices are low, put it on a rental program, and allow it help pay for itself. Eventually, you may well move in permanently, or just for a season, while you try the place on for size, or look for your final residence in the mountains.
A Great Smoky Mountains log cabin investment is easy to carry out.
Buying a log cabin is actually similar to purchasing a home, either primary or second – you have the cabin inspected, obtain a loan or pay with cash, and the cabin is yours! You will have normal utilities just like any other house. You will have to perform some standard upkeep and maintenance. You can place your log cabin in a rental program if it not situated in a resort with a Home Owners Association that takes care of maintenance. There is always obtainable a management organization to take care of cabin maintenance, either the rental company, the homeowner’s association, or a maintenance business.
Now, what about renting your log cabin if you purchase one? Nearly all owners select a cabin rental company to perform this for them. The rental company typically equips the cabin with sheets, towels and consumables such as soap and paper towels and napkins. The rental company also advertises your cabin, books reservations, performs all the billing, check-in and check-out, cleans the property, and gets it prepared for the next tenant.
What about wear and tear on the rental cabin? Many new owners will be anxious about harsh treatment of their log cabin by renters; but, in actuality, there are few problems with damage. Most tenants that come to visit here have paid good funds to do so – they look forward to enjoying “their” log cabin, and they like being in it and everything about it. Therefore, they generally take decent care of your log cabin while they are here. Also, log cabins age gracefully – the timber logs and interior decoration of the cabins wear well.
A log cabin investment is an attractive opportunity, notwithstanding the economy.
A log cabin is indeed an investment you may want to explore at this time, despite the protracted healing of the economy. As I have noted, there are several factors why they are appealing right now as an investment- low cost, rentals holding strong, and location in a well-liked holiday destination. A log cabin investment in the Great Smoky Mountains region is an opportunity you might want to research at this time, despite the protracted restoration of the economy.
Log cabins are coming to the marketplace regularly, and are being offered at very appealing prices. Deborah Korlin, real estate broker and co-owner of Century 21 MVP in Sevierville, Tennessee, is very familiar with the home and log cabin investment market in Tennessee, especially in the Great Smoky Mountains. She is, consequently, a very good source of information and expertise. Get more facts on real estate investment possibilities and available real estate in the Great Smoky Mountains and Knoxville, Tennessee by contacting Deborah using the contact form on this site or call 865-765-6157.
