Log Cabin Blog

Wouldn’t we all like to do that- drive a Mercedes for the price of a Saturn? These are interesting times but along with the challanges there are opportunities and as far as owning a premium cabin in the Smoky Mountains the answer to the title question is Yes! Read on to find out how.

Legacy Mountain Resort is among the best resorts in the Smokies. Its location is in proximity to the highest drawing attractions, the cabin designs and construction quality is second to none, the amenity complex was designed and built to significantly increase the value and income of every cabin in the resort and the views are absolutely spectacular. The major drawback from an investment perspective was that at the height of the market in 2006 and 2007 they were priced so high that, even at full occupancy their potential return on investment was less that many investors were seeking.

Having had a 20+ cabin purchase belly up after the cabins had been completed, Legacy hit the down turn of the market with a large inventory of completed but unsold cabins. Consequently, three of these cabins are available as foreclosures and several are available as short sales at discounts from 25% to 47% from their original prices. Due to all the factors previously mentioned coupled with the virtually at-cost price available, these cabins represent the best opportunities I’ve seen since I started selling cabins in 1992 and will certainly be among the premier investment opportunities for the long term.

If you would love to own your own premier cabin in the Smokies but have been waiting to get the biggest bang for your buck, it will never get better than this!

If you would like detailed information on these and other opportunities, please email me at will@willquinn.com and I’ll send it to you.

P.S. Deals like these won’t last long so get the details and see how one of them will work for you.

When presenting information to a potential cabin buyer, I provide estimated income / expense statements as well as estimated averaged annual return on investment estimates. With an increased interest in investment cabin purchases due to the advent of short sales and foreclosure sales the following is the cover attachment I send with my estimates. It explains the criteria I use  for those financial figures I have to estimate.

“With the apparent bottoming of cabin sales at the end of 2008, short sales have become a factor (though a small factor) in the Smokies. Since the beginning of 2009, I have been analyzing short sales / foreclosure sales as they appear on the market.  While on paper the prices are very attractive, when these properties are analyzed for their investment potential, one thing becomes painfully clear; most of them were bad investment decisions when they were purchased and remain poor options even at their reduced prices. That having been said, I have found several choices that are extremely attractive options.

In preparing the Cash Flow and Averaged Annual Return on Investment estimates for these properties I have attempted to be conservative as far as any necessary economic assumptions. The income estimates for the next 7 years were obtained from the best management company for each property assuming that rental rates and occupancy would maintain the 2007 / 2008 levels which are relatively lower than the previous 5 years. This obviously assumes no rapid or dramatic recovery of general economy and each management company feels confident in their estimates.

With regard to the estimated average annual appreciation rates, 3% to 5% is a conservative estimate for these rates over the last 30 to 40 years in Sevier County according to appraisers I have consulted. Frequently, after a significant downturn in a real estate market, appreciation rates exceed their traditional averages for a time. While that could well be the case in these circumstances, I have not taken that possibility into account in my calculations.

For the vast majority of buyers I deal with, purchasing a cabin in the Smokies is a major economic and emotional decision. For my part, I am providing you with conservatively realistic scenarios so that should you decide to make such a purchase, at least in part based upon information provided by me, that your actual experience will be satisfactory and could reasonably exceed my estimates. “

That’s how I do business. If you are curious about owning a cabin in the Smokies for investment and personal use go back to www.willquinn.com and contact me.