Thoughts on buying a second home in Pigeon Forge? (Sevierville: to rent, neighborhoods)

[emelvee]

I do get suspicious when for sale ads tout how much rental income a property makes...if it's such a great income producer, why are they selling? If we were to rent it out, it would just be an added bonus, since we would intend to use the place ourselves at least some of the time. Our current second home gets used about 3 days a month on average (by us - it's not a vacation rental type place) - kind of a waste.

[hiknapster]

Originally Posted by emelvee

I do get suspicious when for sale ads tout how much rental income a property makes...if it's such a great income producer, why are they selling? If we were to rent it out, it would just be an added bonus, since we would intend to use the place ourselves at least some of the time. Our current second home gets used about 3 days a month on average (by us - it's not a vacation rental type place) - kind of a waste.

Also, take a look at how many of these are for sale. They are a dime a dozen.

[MrsMopar]

Originally Posted by emelvee

I do get suspicious when for sale ads tout how much rental income a property makes...if it's such a great income producer, why are they selling? If we were to rent it out, it would just be an added bonus, since we would intend to use the place ourselves at least some of the time. Our current second home gets used about 3 days a month on average (by us - it's not a vacation rental type place) - kind of a waste.

And another note; if you decide to use a rental company to rent your property, check their references and all they offer. Here's the reason I say this: prior to moving here we used to visit frequently. My in-laws have been residents of Sevier County for over 20 years, so we'd come and rent a cabin and bring all our kids. I couldn't tell you how many different companies there are to choose from, but what I can tell you is there are several who promise to keep your home in good working order, keep it clean, etc., and don't. One cabin we stayed at was filled with dead bugs all over the basement! Disgusting! We've stayed at nice one's and bad one's. Just have to be careful what company you choose.

A friend of mine cleans cabins and homes in Sevier Co and Knox Co. She works for a man who lives in Ohio but rents thre place's out on VRBO. Sometimes it's just best to do the rental end yourself and hire a local to clean. A good cabin cleaner should have verifiable references and be bonded and insured.

I think the cabin rental companies are 50/50. Some are a rip off, some aren't. I won't name company names here but we had one double charge our credit card for a week long rental. They admitted the mistake; however, it took them 6 months and the threat of legal action to get our money back! Ridiculous. It's important to note: NOT ALL CABIN COMPANIES DO THIS! But there are some out there that do. References are the best bet.

Best of luck to you!

[Lakehopper]

Originally Posted by MrsMopar

Like all have said, traffic issues are going to be your number one issue. Sorry to say...

... And for the record, being that I live here, there is only a tiny window of time where there aren't any tourists here...like the end of January. That's about it. There's always something going on here, whether it's a church gathering, a car show, a convention, etc. Traffic is an everyday issue; don't be fooled into thinking there is an "off" season. That's just the way the cabin rental companies try to make it seem!
I wish you the best on your decision, I know it's a tough one. Happy house hunting!

So, with this information, Jan 4-10 would be quite a busy time traffic-wise??? Found Pigeon Forge Best Western Hotel rates on the cheap side and was hoping it was only due to "off season" issues... I was hoping to do a bit of driving and see it may be better from another area then, correct?

[Beretta]

Originally Posted by Lakehopper

So, with this information, Jan 4-10 would be quite a busy time traffic-wise??? Found Pigeon Forge Best Western Hotel rates on the cheap side and was hoping it was only due to "off season" issues... I was hoping to do a bit of driving and see it may be better from another area then, correct?

Not busy at all. Come on down!

[Lakehopper]

Originally Posted by Beretta

Not busy at all. Come on down!

So, you are saying it is kinda off-season then? I am actually trying to check out Knoxville but want to cover a larger area as well... and I actually do like to drive more than I should sometimes! I don't want to stand in a three lane parking lot though like we did back in May... Thanks for info.

I didn't want to steal the thread from subject, but figured what I wanted to know was already here but wanted clarification.

[Beretta]

Originally Posted by Lakehopper

So, you are saying it is kinda off-season then? I am actually trying to check out Knoxville but want to cover a larger area as well... and I actually do like to drive more than I should sometimes! I don't want to stand in a three lane parking lot though like we did back in May... Thanks for info.

I didn't want to steal the thread from subject, but figured what I wanted to know was already here but wanted clarification.

Yes, it is off season. Things are quiet until spring break.

[timothyjames14]

Bizarre....Dosent anyone ever look at a map anymore?? There a more than a few routes to get around PF, Sevierville, Gatlinburg...etc...etc.

If you are sitting on the parkway for 3 hours...its your own fault. I lived in Sevierviile and worked in Gatlinburg for 4 years. MAYBE 5-6 times did it take more than 30-35 minutes to get to work. Which was on the National park side of Gatlinburg.

[creeksitter]

It doesn't seem to make sense to buy a home you will only use 3 days a month.

The only way i see this working is if you have friends and contacts back home that will rent from you. Maybe go VRBO and undercut the competition.

Coming from NC you might look into a cabin in Cosby. Look for a gated community if you are in Cocke county as crime is a bigger concern there.

[emelvee]

This was just an idea we were kicking around - getting a second home in Pigeon Forge. Hadn't really thought about it since I started this thread earlier this year. Though we might get the itch again, as we'll be visiting PF again next month.

It's probably not practical to buy in PF for a home we'll use about 10% of the time. My wife isn't thrilled with the idea of renting it out when we're not using it. We still have our second home outside of Raleigh, which is of course a much larger metro area, and also closer to us than PF. What got us thinking out selling the Raleigh home is that they are building closer to us of late, and we like being a bit secluded for a weekend place. We did try to sell that home this past year, with no offers.