We have a couple rentals in ohio and the worst part of selling them will be the capital gains tax we will have to pay. With federal and state taxes on selling rental property it's around 30%. Not sure what Tennessee would be. The only way around capital gains is to use the money to purchase another rental property but when you just want to get out of the rental business the taxes will rape you.
You and Karen do a great job of keeping all “three cabins” in top notch condition. It is a lot of work, but obviously something you all take pride in. Kudos to both of you Really enjoy your videos… Cheers!
Fought the same battles with our homes just around the corner from you……we finally sold all 3 last year 😢 Have a lot of memories of that beautiful place but it was time to move on! Good luck
I think alot of your rental issues may be due to the fact that you dont live close. Your then forced to work on things durring your time there and in sure you bought the place because you like the area. I own a rental (not short term) that's right next door and have had minimal issues in 10yrs. Normal things like water heaters and sump pumps break but there a prety quick fix when your 2min walk away.
You probably would have to tell me I was going to make a fortune off of having a resort property to ever think about the idea!,and then it would be pretty far down the chain It just consumes way to much time making sure everybody that visits all have a good time except me
That was a main concern when we started looking for our cabin. We found many for sale with well and water issues. We are lucky that our system has decent water. A few guest have even commented and asked how we treat our water because it made their hair so soft.
We have a couple rentals in ohio and the worst part of selling them will be the capital gains tax we will have to pay. With federal and state taxes on selling rental property it's around 30%. Not sure what Tennessee would be. The only way around capital gains is to use the money to purchase another rental property but when you just want to get out of the rental business the taxes will rape you.
Buy fiberglass poolcue's
Renters are renters and a large majority suffer from “ Renters mentality “
I've been a landlord for almost 30 years. I completely understand why you want to be done with it.
You and Karen do a great job of keeping all “three cabins” in top notch condition.
It is a lot of work, but obviously something you all take pride in.
Kudos to both of you
Really enjoy your videos…
Cheers!
I like my eggs in one basket under my control. I’m too OCD and would never contemplate the idea of rental property for these reasons
Fought the same battles with our homes just around the corner from you……we finally sold all 3 last year 😢
Have a lot of memories of that beautiful place but it was time to move on! Good luck
I think alot of your rental issues may be due to the fact that you dont live close. Your then forced to work on things durring your time there and in sure you bought the place because you like the area.
I own a rental (not short term) that's right next door and have had minimal issues in 10yrs. Normal things like water heaters and sump pumps break but there a prety quick fix when your 2min walk away.
You probably would have to tell me I was going to make a fortune off of having a resort property to ever think about the idea!,and then it would be pretty far down the chain It just consumes way to much time making sure everybody that visits all have a good time except me
Love the videos! We have 2 STR's.
My wife and I had rentals for over ten years. We finally sold them and our lives have been so much better since we got rid of them.
I enjoy your videos.
I especially was interested in the water line and storage upgrades.
Thanks for sharing.
I don’t know that part of the country, but I do know water is life.
The last time we stayed in the smokies the water was really bad and smelled like suffer.
That was a main concern when we started looking for our cabin. We found many for sale with well and water issues. We are lucky that our system has decent water. A few guest have even commented and asked how we treat our water because it made their hair so soft.