I’m so excited about the new construction in the resorts this year (as announced last month), and leading the way in the new development projects is Black Bear Ridge.
Many of you know Black Bear Ridge has been one of the most popular resorts in our area mostly due to the location, being just an easy 10 minute drive from all the attractions in Pigeon Forge. The resort suffered a terrible fire several years ago and many cabins were damaged or destroyed in this fire. The really good news was that it occurred on a Sunday and no one was injured. The other good news was that my clients who lost their cabins in Black Bear Ridge Resort recovered fully with wonderful insurance that paid them for rental proceeds lost and paid them to build their cabin back.
Now, there is good news for you as well. With so much new construction planned in Black Bear Ridge, you now have an opportunity to own a new cabin in the resort. What’s more, most of these will have pools on the lower level! Many of them have outstanding views as well.
These cabins at Black Bear Ridge are being built by investors who will finish them and then sell them to new owners. You can choose one while it is being completed. If you time it right, by the time your loan is completed, your cabin will also be finished. Some of these will be just right for second homes. Some will be perfect for rental programs generating heavy incomes due to the amenities such as a game room, indoor pool, large bedrooms, wonderful views, and of course, superb location. They are all true log on the main floor and are finished with gleaming tongue and groove walls that renters absolutely adore!
The new cabins at Black Bear Ridge come equipped with fireplaces, granite counter tops in the kitchen, and large attractive ceramic showers. Each floor plan is different and the number of bedrooms and sizes vary greatly as this is a unique situation where the size is “grandfathered in,” based on what cabin it is replacing.
Incomes for these new cabins at Black Bear Ridge will vary based on how you finish your cabin with games, a theater, a hot tub, etc. Some of the three bedrooms will bring in incomes of around $70,000. Some of the four and five bedrooms will have incomes in the $100,000 and higher. Again depending upon what you are offering and how you are renting your cabin through. Many rental companies are interested in renting these cabins as they would love to have a cabin with an indoor pool as part of their offerings. We have several rental companies who have expressed interest in offering a high percentage split to new owners as a means to entice them to rent the cabin with their rental company. We are happy to help you navigate those decisions should you decide on one of these cabins.
It is also of interest that recently the lenders have begun to consider the income of a cabin when figuring out how much mortgage you can afford. They will allow a percentage of the income to be considered. This often will allow you to qualify for more cabin than you would normally expect.
Finally, let me share with you a secret about choosing a new construction cabin: sometimes when viewing these cabins you need to go see finished cabins in order to understand what you are seeing. When buying a cabin without décor and furniture or finishing touches like lighting, landscaping, paving etc. it takes more of an imagination to see the finished product. But for those who can in vision it a super great value can be had – the latest floor plans, the best amenities, new everything! You might want to consider taking a look at Black Bear Ridge! If you’d like to know more, I and my staff are always available to answer questions.