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We Bought a Cabin in Gatlinburg

by Allen Perry

Our family bought a cabin in Gatlinburg. This sounds like something only wealthy people do to show off, but the reality is that this is something we are using to get to retirement more quickly. It is a must for what our goals are for our family long-term. It’s not a glamorous place. It’s a simple cabin that makes financial sense.

Here are the numbers:
• $820K Purchase Price
• Gross Rental Income for 2021 is $118K
• Mortgage is 15-Year Fixed at 2.25%
• Monthly Gross Rental Income is $9,833
• Monthly Expenses are $3,146
• Net Rent is $6,686/Month = $80,232/Year

Our plan is to redo the floors, the kitchen, the bathrooms, and the decor. We will spend $50K to make it nicer, and raise the rents in 2022. The ultimate goal is to get it to $150K minimum in gross rental income with these updates.

Bottom Line: Let us know if you want to do something similar. We have been helping quite a few families do the same thing in the Gatlinburg/Pigeon Forge area. Call or message us today if you want to talk about this as an option for yourself and your family.

Office: (615) 760-5393 | Keller Williams® Realty: (615) 425-3600

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Allen Perry

We can’t count the number of times per day that AP asks one of us, “Anything else?” We certainly can’t accuse him of not being thorough! He is passionate about perfecting our website, staying on top of social media trends, and most importantly about his clients. Allen got into Real Estate initially as an investor. Eventually, he started helping his friends buy and sell Real Estate and worked to get his license. Since then, he has won too many awards to list (but if you’re curious, click here) for being a top agent, closing record numbers of transactions, and having a top Real Estate Team: Nashville on the Move. You can see exactly how he works with clients in clips from his appearances on HGTV shows in our media section. Allen is also proud to be a Dave Ramsey Endorsed Local Provider. Check him out on the cover of December 2018’s issue of Top Agent Magazine, and as the Cover Story Feature and Article in Nashville Real Producers Magazine in April 2021, and he is ranked in the Top 1% of the over 15,000 Middle Tennessee Real Estate Agents! On sunny weekends, Allen likes to get out on the lake. He’s involved with many community service projects as well, including Habitat for Humanity, Ellie’s Run for Africa, Young Life and more. “Anything else?”

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