[00:00:02] Speaker A: Welcome to Short Term Shopping, where we explore homes for sale in the best vacation markets in America.
Some homes we do like, some homes we don't like.
Brought to you by the Short Term Shop.
It's Short Term Shopping.
[00:00:25] Speaker B: I'm shopping for myself. So I'm not going to give you all my.
All your secrets.
[00:00:30] Speaker A: That's great. I love hearing that.
[00:00:32] Speaker B: I'm a deal in right now, right now on a fit on a Fannie Mae, one of the home path deals. I've never done one of these like a real estate owned, so I'll let you know how it goes.
[00:00:43] Speaker A: And it's something you're interested is it's in The Smokies?
[00:00:45] Speaker B: Yep.
71 listings in Sevier County.
[00:00:49] Speaker A: I'm say that again.
[00:00:51] Speaker B: They have 71 listings in Sevier county right now. The Fannie Mae Home path lots houses, like, you know, foreclosed on properties.
[00:01:01] Speaker A: Wow, that's very interesting. That something we would not have heard a couple years ago.
[00:01:06] Speaker B: It's different. So we'll see how it goes. I'm negotiating with. Negotiating with a computer.
[00:01:11] Speaker A: So, yeah, I closed on one this week and it's. It's been great. I mean, it's. It's been a really good experience. So I'm. I'm actually texting with Avery on the side right now about maybe another one. But anyway, so along those lines, I'm a buyer. It's almost March of 2026.
I want to buy a house in the Smokies. What should I do?
Are people buying things right now?
[00:01:36] Speaker B: Yes. So I think we're kind of feeling a little bit of a shift, so I ran a little data for us. I'm a data nerd before we hopped on here. So in December, There were over 300 properties that closed in December, which is the highest monthly closures that's been since December of 20.
[00:01:56] Speaker A: So.
[00:01:56] Speaker B: So that's a big. I mean, that's a big shift compared to like what we've been seeing the past couple of years.
[00:02:01] Speaker A: Hold on a second. You're saying the biggest December since 21 or the biggest month since December of 21?
[00:02:07] Speaker B: The big. Well, the biggest month since December of 21. But like, so. But that was like the last.
[00:02:12] Speaker A: So both, I guess.
[00:02:13] Speaker B: Yeah.
Just two different ways, but yeah. So, like, it's been. So, like I said, Over 300 properties closed in December. So it'll be interesting to see, like, are people just getting more hip to, like, the tax strategy? So we had a lot of people trying to get stuff closed, you know, for tax purposes in December. And so let's. It'll be interesting to see if, like, this trend carries on. Right. Like if January, February, March kind of continues over, you know, what the previous couple of years have been.
So that's good to know.
[00:02:45] Speaker A: December was the biggest month we've had in the smokies.
[00:02:49] Speaker B: Yep.
[00:02:49] Speaker A: In five years.
[00:02:50] Speaker B: Yeah. It's December of 21.
[00:02:52] Speaker A: You didn't pull January. Did you pull January?
[00:02:54] Speaker B: So it looks low, but I don't know if they have all the data in yet. Maybe.
[00:02:59] Speaker A: I see.
[00:02:59] Speaker B: I don't know, but I pulled that from rpr, which is like a software that we get from being a part of the national association of Realtors. But so, so look, things are looking good.
So inventory wise, so we kind of saw peak inventory hit last summer in July.
Like, they determine like months of inventory, so they have this complicated formula that tells them how long they think it should take to eat up all of the listings that are active. So it was 11 months in January of last year. So we're about 35% under that now. So inventory is, you know, is. Is decreasing. So that means properties are selling. And, you know, we're lowering that for buyer perspective. That means we're probably turning into a little bit less of the buyer's market that we were in. So we were in a dead set buyer's market with over 2,000 listings last year. So things are a little bit different, but there's still a lot of good inventory.
So, I mean, I think it's kind of, I think maybe moving towards more of like a balanced market here.
[00:04:08] Speaker A: And now we're talking, we're hearing possibly another rate drop. And. Yeah, see where that goes. But it's a weird situation right now because Trump's like, oh, the jobs market is fantastic. The jobs are the greatest they've ever been. Well, then why are we lowering rates? You know, so I don't know.
[00:04:22] Speaker B: Hard to even pay attention. I don't even.
[00:04:23] Speaker A: Yeah, it's best that we don't pay attention, to be honest. It's the. It's. Yeah, it's crazy out there, but I
[00:04:29] Speaker B: can make the numbers work at today's interest rates, then they'll just get better. So it's just.
[00:04:34] Speaker A: All right. So if I'm shopping right now, I. Is there are small houses more abundant or favorable? Favorable. Are larger properties easier to get any niche right now or just all across the board?
[00:04:47] Speaker B: I think it's kind of all across the board. Obviously, like, you know, smaller houses are going to have a lower purchase price, so there's More people that are qualified to buy at a lower price point, more people have the money saved up for a down payment for a less expensive home. So I think as far as like competition, you probably have a little bit more at the lower price points.
But I like a small house. You like a small house. Like the little, little cabins perform really well here in the Smokies.
So when they're, you know, cheaper to maintain, you know, cheaper to renovate, you know, here we've got a lot of competition.
We, you know, you can't just set it and forget it and rent grandma's cabin here in the Smokies anymore. So, you know, having to do maybe a light remodel on a smaller property is a little bit easy, you know, easier task to tackle, you know. But big properties perform well here too. And we've got people building, you know, I mean, resort style pool cabins with amenity, like golf simulator. Like there's like all sorts of crazy stuff and those perform well too. So it's kind of, I think, all across the board.
[00:05:53] Speaker A: Yeah, I think that is important to know and I do want to hit that a little bit here is that this is not the Smokies that we were familiar with five, 10 years ago. It's completely different now. We now have. I mean there's. What's that brand new one that's going in that looks like a Disney world resort?
[00:06:07] Speaker B: It's Smith Creek Reserve. That is the lazy river.
[00:06:09] Speaker A: Yeah, Smith Creek Reserve. This place is insane. It's got everything you can imagine. These homes are what, they're all 2 million plus, aren't they?
[00:06:17] Speaker B: Right under probably 2 million. But I mean, but they're all. I mean, I don't know how many pool cabins are in there, but I mean like million dollar properties like all
[00:06:24] Speaker A: over and you know, like back in the entire community back in the day, you know, like pre Covid and. And such.
This is not something we could ever dream of. If you were to tell, you know, both of us, either one of us, that they were going to build a resort with two million dollar cabins, we would have been like, what are you talking about? That's absurd.
[00:06:43] Speaker B: Who's gonna rent them?
[00:06:44] Speaker A: Yeah, but now it's changed. It has changed and it's becoming a little bit more.
I mean, it's east Tennessee. I hate to use the word bougie, but you know, I mean, it's.
[00:06:56] Speaker B: And our amenities are changing. Like if you look at like the things that like Anakeesta, like so Ankis is like our favorite place to go with the kids and used to be you had to ride like a chairlift at. Well, this winter they installed like glass enclosed gondolas for everything.
So, like now everybody can ride in that. So like, they're. I think they're making steps to kind of like, you say, bougie it up to like the different things. So it's definitely different now.
[00:07:21] Speaker A: We still have goats on the roof,
[00:07:23] Speaker B: so we love goats on the roof. There's a new mountain coaster every month.
You can just do the tour of the mountain coasters.
[00:07:31] Speaker A: But. Yeah, okay. Yeah. So listen, very important, especially for these Facebook crowds and all these old school people that are just griping and complaining about $2 here and there. Things have changed. It's not what it used to be. And it's okay. That's okay.
It's actually a lot of. It's a positive thing.
[00:07:51] Speaker B: I think we created some of it because we've got lots of good managers, self managers that have good products that are probably short term shop clients that have up the bar, you know.
[00:08:01] Speaker A: All right. Oh, cool. I won't take credit for it, but I'm happy to. I'm happy to hear that. That's great. All right, well, what are we looking at? You got any properties to show us maybe, or something like that?
[00:08:11] Speaker B: Yeah, yeah, I do.
I just got a new fancy monitor that's like big. So it takes me a minute to like.
[00:08:20] Speaker A: I love the big monitor.
[00:08:21] Speaker B: Oh, my gosh, I'm obsessed.
So this one's interesting.
So this was a property that somebody purchased that had four cabins, like on a single parcel. And then they went through the work to subdivide it and have sold off each cabin individually.
So this is like right outside of Gatlinburg, kind of behind the arts and crafts area. So probably maybe 10 minutes into town into like the. Right where the Food City, the grocery store is there in. In Gatlinburg.
So kind of the good thing, though is this guy did right on the renovation. So, like, it's new roofs, new systems, granite countertops, all new cabinets, all new bathrooms, all new LVP floors. So basically, you know, you're. You're getting into it and rocking and rolling. So and this one's kind of interesting.
It's a two bed, two bath kind of on this upper part, but then it has a lower level that was the basement. It's obviously, it needs some, you know, it needs. I need some decor help. I need some. I think some things can. Can. Can kind of, you know, make it into a little bit of a better you know, design property here. But so could sleep possibly as like a three bed and it has a small half bath down on this lower level.
So I don't know. Interesting property for 499. It did 75k in 2024, so it has a little bit of rental history behind it.
[00:09:42] Speaker A: Anyhow, is the. Do you know if the other one sold like is.
[00:09:45] Speaker B: Yeah. So I had a client that closed on one of them. Wade closed another one of them.
So that I think the other one is also sold the other. So I think this is. Might be the last one they have left.
[00:09:56] Speaker A: Yeah, I have a property off of Boogertown, which is the weirdest name I know.
[00:10:00] Speaker B: Yeah, can we just change the name?
[00:10:03] Speaker A: Yeah, we need to change the name. It's a very windy. If you're from out of town, it might scare you a little bit. But it's a. It's a beautiful area.
[00:10:09] Speaker B: Yeah. This is the person that wants to be in nature. So maybe not necessarily the person that wants to.
I don't know. Being like a cabin community like this feels a little bit more. Yeah.
[00:10:18] Speaker A: But it's very close to town.
You know, you can get the. You get the Ace Hardware.
[00:10:23] Speaker B: And I'm plug one of my listings because I think it's a good deal too.
[00:10:28] Speaker A: Oh yeah.
Okay.
[00:10:30] Speaker B: Yeah, this is one. This is my listing. 916 Hideaway Hill Circle.
So it says it's a two bed, but it sleeps as a three bed. And it's been completely updated on the interior as well.
So kind of sticking with that trend of like, you know, we. We can't rent grandma's cabin anymore. We want things with granite countertops, new appliances, newer bathrooms. So they've kind of done all of the heavy lifting here for you as far as updates. It could use a little pop of color, little, you know, some small design things like that. But the cool part is they have this neat.
I don't golf, but they have this cool like chipping tee. I don't know, maybe like top golf kind of situation where you're trying to like get it into like a. Like a goal type situation.
I don't know. But something that photographs well. Something to set you apart from the thousands of other listings.
[00:11:26] Speaker A: All I can see is the dude just got. He's double fisted and he's launching balls at the mountain. You know what I mean?
[00:11:32] Speaker B: Maybe.
Maybe that'll be fine. I don't know.
[00:11:36] Speaker A: Don't do that. There's probably houses out there somewhere.
[00:11:39] Speaker B: Probably.
[00:11:39] Speaker A: There's like tile in the kitchen. Is that tile in the kitchen.
[00:11:42] Speaker B: Yeah, it's all tile, like wood.
[00:11:44] Speaker A: Look.
[00:11:44] Speaker B: Tiled floor throughout.
[00:11:46] Speaker A: So nicer. I mean, more expensive, I should say, than lvp.
[00:11:50] Speaker B: Okay.
Yeah. Anyhow, I think this is interesting.
[00:11:55] Speaker A: Where's this?
[00:11:57] Speaker B: Just outside of Pigeon Forge. So kind of.
I'm bad with the road names and things, but like, as you're going towards kind of like Walden's Creek area from Pigeon Forge, you can background it. You can probably be at the parkway in seven minutes maybe. So it's not far at all.
[00:12:15] Speaker A: Okay. Interesting. Maybe. Yeah. Okay. That's good for somebody who wants to turn the key and go.
[00:12:21] Speaker B: Exactly. Yeah. This is. This would be. You step right in, maybe, you know, add some new throw pillows, maybe some new walls.
Yeah. Little wall art.
So this one, this is my. I don't know if the deal I have going doesn't work. I love this cabin. I get like, I get like emotionally connected to the house and this is one of them. This is a cool like. So it's a three bed, three bath right in between Gatlinburg and Pigeon Forge. So like they call this little road in between the two towns the spur. And it's where like the river flows through there. And it's. I think it's technically part of the national park whenever you drive on the spur. So this cabin is right off that road. So you can probably be a Dollywood in 15 minutes in downtown Gatlinburg in about 10 minutes. So super centrally located.
That the cool part. It looks a little bit rustic. I would probably. This is when I would probably remove some decor from.
They got a lot going on. But the cool part is, is they have this huge, like, they have this huge rec room on the bottom in this huge bunk room.
So I don't like all the twin bunks. I would probably swap some of those out for like a queen over full kind of situation. So you, you know, you don't pigeonhole yourself to just sleeping kids, but it's a property that could sleep 12 very comfortably.
I don't know, has a lot of potential, has a little bit acreage around it.
I like this house.
[00:13:50] Speaker A: Mm.
[00:13:51] Speaker B: Yeah.
[00:13:51] Speaker A: The bunk room is a little much for me too. It's. It's. You're stacking them up in there. There's like, there's eight. Eight beds in there.
[00:13:56] Speaker B: And it. And it's. And like no adult wants to sleep in a twin size bed. So like I get like sending all the kids down there. But then like, what happens if you want to bring four couples and it's only got you know, three regular bedrooms. Like, no, like nobody else wants to sleep on a twin bed, but it's got these cool swings and it's got a mountain view. Like as you look out the way.
I like this house. It had a garage.
[00:14:20] Speaker A: It says it's got garage spaces.
[00:14:22] Speaker B: Yeah, it had a little garage and 2,200 square feet. I'm pretty sure that is just the main and upper level. I don't think this is taking into consideration that whole lower level because it definitely feels closer to 3,000 square feet. Like when you get in it.
[00:14:36] Speaker A: Maybe it's not legal or something. Doesn't have egress or something like that.
[00:14:39] Speaker B: It hasn't. Well, has all egress windows. Okay.
I don't know but.
[00:14:45] Speaker A: Well, talk to me about that quickly if I'm buying. In this area to pass short term inspection, I do have to have windows and egress.
[00:14:53] Speaker B: It has two egress points. So you have to have like a door obviously into your room and then you have to have another way out. So either another door that leads outside or a window that can open that you can exit in case of an emergency.
[00:15:04] Speaker A: Yes.
[00:15:05] Speaker B: Two modes of egress becoming less of
[00:15:07] Speaker A: an issue because of the inspection thing's been around for a few years now. But there were some properties that did not, you know, pass when they first started doing that because it was built in, you know, maybe they built a bedroom in a crawl space or something like that.
[00:15:20] Speaker B: And we only have contractors too that are doing these windows all the time now. So 10 grand you can get a window, even like a crawl out hole. So one, one of my clients had it like they dug out, like did a deep dugout like where you can get out the window.
But yeah, so they got food trucks
[00:15:41] Speaker A: in wares Valley and you get a taco and a egress window.
[00:15:43] Speaker B: Yep, exactly.
[00:15:46] Speaker A: Okay, cool.
[00:15:47] Speaker B: I guarantee if you ask her out, you can find something that can do an egress window while you're there.
[00:15:50] Speaker A: Yeah, exactly. Yeah, he's there getting tacos.
[00:15:53] Speaker B: Yep.
[00:15:54] Speaker A: All right, cool.
[00:15:55] Speaker B: Anyhow, so there's a box.
[00:15:56] Speaker A: What else we got?
[00:15:57] Speaker B: So these are going to be a little bit more on the high end side.
So this is a four bed pool, cabin and covered bridge which is coverage is going to be a community like right outside of Pigeon Forge before you get to where's Valley.
So this is a new construction that's currently. It's not too long off from being completed.
[00:16:19] Speaker A: Like brand new.
[00:16:20] Speaker B: Brand new. Brand freaking new.
But these are photos from other. They built several in this little community. But really nice design, finishes, furniture. Like, it's. This is another one that it's completely turnkey.
[00:16:34] Speaker A: Um, people don't realize. Stop right there. Go back to that one. People don't realize. If you got a beach house, you don't realize how awesome it is to have this tongue and groove.
[00:16:43] Speaker B: Oh, God.
[00:16:43] Speaker A: Because you can beat it up. I mean, I'm not saying you should beat it up. Don't take a hammer to it. But man, when you. We had a beach house, it only takes three or four months of. Of rental season before the walls are just like completely scratched and torn up because they're dragging their suitcases. And the staircase is a disaster. You don't really have that as much in these tongue and groove.
[00:17:04] Speaker B: It's amazing. And it just like adds maybe some character. Like if you get a little scrape. Yeah, like looking. So we are building a lot more of these modern style cabins, you know, here in the Smokies and a lot. And there is more sheetrock going in. And on top of the fact that there's no good sheetrock installers here, because the sheetrock jobs just definitely leave a lot to be desired. But like, yeah, you go into a brand new construction and it's a month old and it's already got scuffs on, you know, the stairways and stuff like that.
[00:17:35] Speaker A: Yep. That's how it is down here on the beach. It's sheetrocking. A rental is. It's not that great.
[00:17:41] Speaker B: Love the tongue and groove.
[00:17:42] Speaker A: Yep.
[00:17:43] Speaker B: And this is cool because it's kind of like a lot of people complain about the orange tongue and groove. So like, this has kind of got like a cool. I don't know, not orange.
[00:17:52] Speaker A: Yeah.
Stonewash, but.
[00:17:55] Speaker B: And then they have this huge, so gunite pool. So not like a fiberglass insert kind of situation. So it's a nice concrete pool, but really nice pool. Cabin for under a million.
[00:18:10] Speaker A: How many bedrooms?
[00:18:12] Speaker B: Four beds.
[00:18:13] Speaker A: Four beds.
[00:18:13] Speaker B: Six bath, six baths. Has a little.
Usually I have a game room with a theater. Like, I mean, they've got all the bells and whistles.
[00:18:22] Speaker A: So are you seeing any fixer uppers out there right now or.
Not really.
[00:18:28] Speaker B: I mean, there are. Yeah. You gotta hunt them down.
The one I have an offer in on is. Is a fixer upper.
But like, it's hard with these fixer uppers because they're proud of them too. So it's hard, you know, price wise. These sellers, you know, they don't. I don't know, they don't take into consideration of like, how much money it takes to get one of these to this level so that it's going to compete with this cabin. Right. So, like, yeah, they might be priced a little bit under what other properties are, because they are a fixer upper.
It's difficult, I think, to, like, find that span that is priced under enough so that you can bring it up to a level where you know where it will compete.
[00:19:11] Speaker A: I see another one up. I think I see another one up there.
[00:19:14] Speaker B: One more. And this one's really nice. So this is two one nine. This is. Yeah, two one nine chimney tops, right outside of Gatlinburg.
It's got a pool and it's got, like, the design is amazing. Amazing. Like, I don't see these built up. And it has a. This is a garage door that opens up, like, with power. A power garage door that opens up onto the deck.
What's super interesting about this one? So I have a client that's interested in it, and so I went to see it and. But they already have $145,000 on the books for 2026, which was a lot to me.
[00:19:53] Speaker A: That's a. That's a whole lot. I don't even know that I would want that much on.
[00:19:56] Speaker B: That's exactly what I told my client is. I feel like they're probably leaving some money on the table, but, yeah, very booked.
[00:20:05] Speaker A: See, this is not the Gatlinburg we all used to know and love.
This is. This is, you know, this. I'm looking at this. I'm like, this is in. This is in
[00:20:15] Speaker B: right off the parkway in Gatlinburg. So you can be, like, downtown by the aquarium in five minutes from this house.
Very nice.
[00:20:28] Speaker A: Very nice. Cool shower.
[00:20:30] Speaker B: Cool. Like, they have, like, this, like, climbing wall for kids and, like, a little bar down to, like, down on the lower level.
[00:20:38] Speaker A: This is also brand new.
[00:20:39] Speaker B: Yeah. Yes. So it's an interesting situation. So they bought it. New construction and then did the design, and then now are selling it again.
So they came in, like, bought it for, like, brand new. And then.
And then.
[00:20:55] Speaker A: Do you know the. I mean, in other words, like, did they do that on purpose or they just decided to move?
[00:20:59] Speaker B: I don't know. Yeah, I don't. I don't know the full story. That's just what the story I was told.
[00:21:03] Speaker A: I hear you.
It seems like a lot of work to.
[00:21:08] Speaker B: Yeah.
[00:21:09] Speaker A: To sell it, but who knows? Things change.
What do you say to that as a. As a real estate agent? Oh, man. Why are they selling it?
[00:21:18] Speaker B: So, I mean. I mean, who knows why they're selling it? They sell for every. All sorts of reason. I think Avery said that she. I don't know if she used to tell people that or she wanted to tell you that, like, because the mountains or the house is falling down the mountain.
[00:21:32] Speaker A: Is that what you want to hear? Yeah, it sounds like that's what you want to hear.
[00:21:36] Speaker B: They people, you know, people sell for every, you know, all sorts of reasons.
[00:21:41] Speaker A: Now, I don't like this. This. If this is my house, I'm ditching that fire pit. I just. I'm not doing it. I'm sorry. Yeah, it's just me. To me, that looks like a. Like you're gonna burn the house down with that thing. I don't like it.
[00:21:51] Speaker B: The gas fire pits.
[00:21:52] Speaker A: It is cute, though.
[00:21:54] Speaker B: Looks nice in pictures. Oh, here's that door.
[00:21:56] Speaker A: It's also in a rug. I mean, it's just not. Not for me. Oh, that's cool. That's like a garage door.
[00:22:01] Speaker B: Yeah. And it even has the control on the side opens up.
[00:22:07] Speaker A: That's really cool.
[00:22:08] Speaker B: Yeah, really cool. I'm not like there are some like that, but this one's really nicely done.
[00:22:13] Speaker A: This is peak again. Right. This thing is primo. So can I expect this thing to actually turn a profit?
You know, as well done as. This is high end at 1.6 here.
[00:22:25] Speaker B: Yeah. I mean, if they've already got. So, like, I looked at the date, I'd probably say they were maybe 35, 40% booked, like, of the year. So if they're at 145k with about 40, say it's half. Say they've got half the year booked at 145k. So let's, you know, they could be pushing 300k with this, you know, and.
And I could see it, like, it's different. Like, there's.
There's other nice cabins, but this one's really nice.
[00:22:53] Speaker A: Really nice.
[00:22:54] Speaker B: Yeah.
[00:22:55] Speaker A: Yeah. This is multiple family. It's like, you know, it's like you got your own little hotel here.
[00:23:00] Speaker B: Yeah.
And. And not in a community.
So, you know, some people don't want to be in, like, those cabin communities, so.
[00:23:09] Speaker A: Yeah. But do keep in mind, if you're gonna buy something this. This beautiful and this primo, you know, you. You bought something beautiful in Primo. So, you know, I just hear a lot of these people complaining about cash on cash and blah, blah, blah. Well, then buy a piece of junk and fix it up and do whatever you got to do. But.
[00:23:26] Speaker B: And, like, as an investor, like, I have. I've never cared about, like, how hard my money is working, like, in the first year. Like a cat. Like, people, like, talk about, like a cash on cash return in the first year. And so, like, it's like, I don't know. I'm just all about the cash flow and it's just how, you know the way the numbers work for you. And so I don't know.
[00:23:46] Speaker A: Yeah. And keep it. Just hold onto it for a long time. And that's how. That's how you.
[00:23:51] Speaker B: I have that one in Gatlinburg I'll just have to keep forever. I've got probably 5,000 or $500,000 in equity in. But I only have like a 2.1 something interest rate. So we're keeping her forever. Like, I don't know.
[00:24:04] Speaker A: Yeah, yeah, yeah. But this is something here. Like, this one is Sky's. The limit is how hard you want to work. If you want to work hard and like, squeeze this thing for every dollar and every single night and like, post about on Facebook how much money you made with your cabin, you know, then you can do that here. Or if you just want to have this as a.
You know, you could have bought a jet or shares of a jet, or you could have bought this cabin and take your family to it for fun, then you can do that here too.
This is definitely a lifestyle situation if you want it to be. This thing's killer.
[00:24:39] Speaker B: Yeah. I wish my parents would have had a house like that.
[00:24:45] Speaker A: I think about that all the time.
[00:24:46] Speaker B: This was not vacation for me.
[00:24:48] Speaker A: Kids have no idea. It's like, do you have any idea?
[00:24:51] Speaker B: Your kids. I. I want to be your kids. To get to go to the concerts.
[00:24:56] Speaker A: Yeah, concerts are really good. We're going to Mardi Gras tomorrow.
And no, I told my. My daughter's got like a thousand pairs of shoes. And I told her, I said, listen, you don't understand. When I was a kid, I got one pair of shoes per year, period
[00:25:09] Speaker B: at the beginning of the school year.
[00:25:10] Speaker A: That's it.
[00:25:11] Speaker B: You better take care of them.
[00:25:12] Speaker A: Beginning of school year. And I had to come.
[00:25:14] Speaker B: You might get some at Christmas again if you're like, if that's what you wanted. But.
[00:25:18] Speaker A: And it came from famous footwear because they had to be last year's model.
And it's funny because my daughter told that story to Avery's mom. And Avery's mom was like, I think he's pulling your leg. And I'm like, no, this is real. I only got one. I. I only had. That's it. Well, what Would you wear to church?
I had a pair of penny loafers that I had to wear for 11 years.
They were 12 sizes too big, you know.
But anyway, I love it. All right, cool. All right, well, listen, anything else we need to know?
[00:25:49] Speaker B: I mean, it's just a fun time to buy real estate, I think. Like, you know, if the deal doesn't work, like, you know, people tell me all the time, like what the house is listed at. Like, you know, the numbers don't work. Well, let's offer at what does work. And so, you know, you have to be an active participant in the process.
[00:26:07] Speaker A: What kind of days on market are we seeing? Like, in other words, if you, if a client sends you a property that they're interested in, what would you expect the days on market to be?
[00:26:17] Speaker B: So most are sitting at least 60 to 90 days. Like for things that are dated that might. So things, you know, obviously things that are overpriced, they're sitting longer. Things that are dated, they're sitting longer. But things that are well priced, you know, fairly turnkey and maybe with some decent rental history, those are still moving quickly. So those are still, you know, going under contract, you know, seven to 10 days.
[00:26:40] Speaker A: And people do care more about rental history today than they ever have, though.
[00:26:44] Speaker B: I don't give two craps about rental history. Yes, people do.
I mean, to me it's just a data point. Like, it's something to see.
Kind of proves it could do with whatever management this number. But I'm looking at ranges of income or like revenue for properties by like larger data sets.
To me, that just feels more accurate to gauge what a property can do.
[00:27:11] Speaker A: Yeah, you. How much. How are. It's like, like I said a minute ago, how hard do you want to work are you seeing now? I'm going to go way out on a limb here. Have you seen any where somebody bought a house maybe two or three years ago and really rocked it hard, and now they're trying to get like a primo price for it because of their rental history?
[00:27:28] Speaker B: I mean, every once in a while we see that listed like listings like that that have great rental history. But I mean, honestly, not that often. Like, if, if they're making good money, I think people are holding these things.
[00:27:38] Speaker A: Yeah.
[00:27:39] Speaker B: And so if it's got great, great rental history, then usually it's overpriced, to be honest. They have good rental history. Then they lift it too high and then.
[00:27:47] Speaker A: Yeah, because it's still got to appraise. Right. Like the appraiser is not really going to care where your rental history is, so.
[00:27:52] Speaker B: Yeah.
[00:27:53] Speaker A: Yeah, it's not. It's not a hotel.
[00:27:55] Speaker B: Yeah. I just use it as like a, you know, a comparison. Like, if that house can do that, then, you know, buy this house, make it into that house, and. And you can do the same. So.
[00:28:04] Speaker A: Yeah.
Love it. All right, how do we find you?
[00:28:08] Speaker B: So I am in the Tennessee Smoky Mountains. You can email me at Reagan R E A G E
[email protected] or, I don't know, reach us out. Reach out to us on the
[email protected].
[00:28:21] Speaker A: love it. Thanks for stopping by.
[00:28:23] Speaker B: Yes, sir.
[00:28:24] Speaker A: We'll see you soon.
[00:28:25] Speaker B: Sounds good.
