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MUST KNOW RULES FOR RENTALS!
Please email us for our free "Rules for Successful Overnight Rentals". This document will give you the most important factors to consider when purchasing a Gatlinburg or Pigeon Forge area vacation home that will be used as an overnight rental. To learn more about our Gatlinburg/Pigeon Forge area overnight rental industry, click below. What is an Overnight Rental?
For more information, please email us by clicking here.
COMMUNITY VIRTUAL TOUR! Looking for information about our area? If so, please checkout our new virtual tour of the Sevier County area (filmed by our daughter Brittany Schoenfield) featuring information about Gatlinburg, Pigeon Forge, and Sevierville by clicking here.
INVEST IRA FUNDS IN REAL ESTATE!
Did you know that you can purchase a Gatlinburg vacation rental property with the funds in your IRA account without a tax penalty? For more information, please contact us by clicking here.
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| Chalet Rental
Pro-Forma |
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Assumptions
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Average Daily Rate
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$124
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Number of Nights
per Year
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220
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Rental Mgmt Expense
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40.00%
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Operating Expense
Rate
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9.68%
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Purchase Price
|
$120,900
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Down Payment
|
$30,000
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Amount Financed
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$90,900
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Annual
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Monthly
|
|
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Mortgage Payment
(P&I only)
|
$7,368
|
$614
|
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Home Owner's Association
|
$240
|
$20
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Insurance Allocation
|
$500
|
$42
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Utilities (Elec.,
Phone, Cable)
|
$1,500
|
$125
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|
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Property Taxes
|
$400
|
$33
|
|
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Mortgage (PITI)
& Fees
|
$10,008
|
$834
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Results
|
|
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Annual Gross
|
$27,280
|
$2,273
|
|
|
Less Management
Fees
|
$10,912
|
$909
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|
Net Pre Operating
Expenses
|
$16,368
|
$1,364
|
|
|
Operating Expenses
|
$2,640
|
$220
|
|
|
Net Available to
Service Mortgage
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$13,728
|
$1,144
|
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Mortgage Obligation
(P&I Only)
|
$7,368
|
$614
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Net after Debt
Service & Expenses
|
$6,360
|
$530
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Repairs & Maintenance
|
$1,000
|
$83
|
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|
Net pre-tax
|
$5,360
|
$447
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| In
addition to owning your own Smoky Mtn getaway, there are tax
advantages as well. Please
consult a tax professional for details. All houses are different,
and not all properties perform this well. Remember, past
performance does not guarantee future results. |
| Mortgage
rate & terms are subject to availability, this example assumes
7.25%, 30 year mortgage. |
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FOR PERSONAL SERVICE AND/OR INFO ON ANY
SEVIER COUNTY PROPERTY,
CALL JEFF OR KAREN AT
1-800-818-8133 or E-mail us!
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Each RE/MAX
Office is independently owned and operated
All Rights Reserved Jeff and Karen Schoenfield
Web site design and graphics © 1999-2008 Prism Designs |
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Foreclosures!
NOW AVAILABLE - Free area foreclosed real estate listings information on all Gatlinburg and surrounding area bank owned properties. Email us at Jeff@GatlinburgHomes.comto get the current list of foreclosure properties listed by all area firms!Gatlinburg Real Estate Blog! Our area's real estate market is changing and you can learn all about in our blog! To keep ahead of what is happening with Gatlinburg real estate and the rest of the Great Smoky Mountains including Gatlinburg, Pigeon Forge, Sevierville, Kodak, and all of Sevier County, check out our Gatlinburg Real Estate blog!
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