Investing in a vacation rental property gives you the opportunity to create somewhat passive monthly cash flow however, the best deals are not always right next door. Investing in other areas can seem like a daunting task that comes with several common fears; how to handle maintenance, repairs and tenants. This is where having a “power team” on your side comes in to play. We would like to present a series of articles that take a deeper look at purchasing investment real estate and strategies such as the use of a Self Directed IRA to make your purchases. Today we will start with the importance of assembling a trusted group of people to assist, who should be on the list and why our team is a great asset for you when you are considering a Smoky Mountain investment purchase.
Having the right Real Estate Agent is the cornerstone of any strong network for investing. The agent should have a large network of contacts including title companies, contractors, inspectors and more. Finding an agent with great connections in place will put you several steps ahead in building your own network. Aside from this, it is very important that the agent you pick is VERY familiar with the process of investing in real estate, someone with the experience to guide you through buying in an out of area market. Our team has been in the Top 1% in the area for many years and we work primarily with vacation rental investments. We have a very large network of people who are involved in the business that are available to assist with a wide variety of things that may come in to play. I have been active in the market for years, successfully building, buying, selling and owning numerous investment properties myself while helping others to do the same. Our team can assist you with identifying turnkey properties, choosing a rental management company, obtaining expense information and we are also experienced in the use and creation of Self Directed IRAs for real estate purchases. We feel that an SDIRA is an option for purchasing with many potential benefits and will discuss this strategy in more depth in the next article in this series.
Other members of your team should include a variety of lenders;a great accountant;a solid financial advisor and we would add a great IRA administrator to the list as well. We can assist with putting together each piece of your team. It is important that the people you choose are familiar with the market you plan to invest in, respond quickly and have a great history with the type of transactions you are pursuing. We are able to connect you with potential members of your team for the Great Smoky Mountain area but are also members of a national network of top agents and are happy to put you in touch with a great investment agent in any area you choose to purchase in.
To get started why not take a little bit of time on our website and start identifying what type of properties may fit in to your investment plans. Once you have identified the key members of your “power team” and what type of property you are interested in; rental, land to develop or something to fix up, consider making an appointment with us for January or February. These are great months to view property in person as there are less vacationers in the area and a larger selection of homes are available to see.
Here Are A Few Of My Featured Investment Properties:
|87 Gently Rolling Acres Await 87 gently rolling mountain top acres with outstanding 270 degree uninterrupted panoramic views of the major peaks of the Great Smoky Mountains National Park including Mt. Cameror, Geyot, Webb, Greenbriar, and LeConte. Type: Single Family Home Location: Gatlinburg ,Tennessee Price: $1,750,000 Get more information >|
|Add Your Own Touches Here is your opportunity to create a mountain getaway with your own unique style and personality. High quality materials and construction are a great jumping off point to add your finishing touches. Type: Single Family Home Location: Sevierville,TN Price: $112,500 Get more information >|
|Consistent $$$ Maker At A Great Price!! CONSISTENTLY RENTED OVER 200 DAYS PER YEAR FOR THE PAST FOUR YEARS, WITH REVENUE RANGING FROM $38,000-$41,000! Wonderful and spacious 3-level cabin tucked away in Gatlinburg and only a short drive to the Great Smoky Mountains National Park! Type: Single Family Home Location: Gatlinburg ,Tennessee Price: $250,000 Get more information >|