Rental Cabin can be both Investment and Staycation Spot for Locals

Have you ever thought about owning a cabin? Do you know that a cabin vacation home can be a great source of income for you? Of course, you can enjoy spending some time there as well!

Many of us enjoy the Great Smoky Mountains National Park! We live within an hour drive of such beautiful streams, high mountain ridges, breathtaking views of nature, circling Red Tail Hawks and little bear cubs with their mom hiding in the treetops.

For us locals, when we run away for a day to Dollywood or up to one of the many hiking trails, no matter how far we travel, we always come home. When push comes to shove, remember that we are hillbillies to the core. How many of us have grandparents with the same tools on display? How many of us have relatives hanging out and demonstrating the crafts? I know I don’t always claim to eat Aunt Mildred’s rhubarb pie, but I’m secretly proud of her for the fact that 90 percent of her food came from her garden and orchard. That was long before it was popular or smart to buy organic. It was just right and always tasty! I guess that is why we were always so doggone healthy! But I digress.

On your day-trip jaunt into the Smokies, you probably noticed when you were stuck in some traffic on Highway 66 that we aren’t the only ones who enjoy our mountains, Sevierville, Pigeon Forge and Gatlinburg. Last year more than 10 million visitors came to our area to visit the natural beauty and it is a secret, but even more people can be found at the Tanger Mall shopping. So what does that mean to you and me?

They are staying overnight! You and I can ride back home, though many times we choose to stay (like the time we visited too many moonshine tastings – just sayin’). So when vacationers to the area come, they want to stay in cabins – the cabins that are owned by you and me.

So how much can you expect to bring in if you own a rental cabin?

Well, a one-bedroom cabin can bring in an average gross income of $30,000. A “hot” one can do even better, earning as much as $55,000. That’s a lot of money! As a matter of fact, that is enough money to pay the mortgage, the utilities and give the rental company its cut and still have money left over to spend at Goats on the Roof. If you haven’t been over in a while you need to visit Goats on the Roof! We love it!

Speaking of price though, you can buy a good one-bedroom cabin anywhere from $129,000 all the way to a very upscale huge one for about $299,000. Do the numbers and you will see a cool investment can be had for something you can also enjoy. Imagine it – you take a quick trip over for a picnic at Metcalf Bottoms before ending up at your cabin chilling out on your deck listening to the babbling brook. Your very own staycation spot. After all, you should have a perk for putting up with all that tourist traffic! You’re a local for heaven’s sake.

But the point is that many of you would enjoy an investment cabin. You would enjoy staying in it yourself while you give your guest the privilege of paying the mortgage off for you. What’s more, you have a nice tax deduction for the interest you are paying on the mortgage (not to mention any expenses keeping up your cute log home).

We’ve put in a lot of work helping people pick the right investment cabin for them and helping introduce them to vacation rental companies that take care of and market the property for them. I’d love to sit down with you and show you how we can help you, too! Call my office at 865-429-2121 or 865-765-6157 to set up a time to meet.