Invest in a Rental in East Tennessee

Investing in rental property gives a passive income stream and diversifies your financial portfolio.

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If the extreme market highs and lows of this country have taught us anything, it’s that we should pick sound investments and be prepared to ride them out for the long haul. The old adage says that real estate is a sound investment, but have you explored the concept for more than just your personal home? As real estate agents (and many of their clients!) know, investing in rental properties adds a robust element to any investment portfolio.

rental-in-morristown
Example of a possible rental property in Morristown, Tennessee. Picture from darlenereeves-kline.com.

A few good points from this article on the property management site rentalutions.com explain more: *Note* We’re not recommending Rentalutions services, we just think the article is pretty good!

High Leverage.

It’s much easier to get a loan for real estate than other types of investment (such as gold).

ROI: Return on Investment.

Because your tenants are paying your interest payments on the rental mortgage, you put in less of your own money and get the financial benefits.

Diversification of Assets and High Appreciation.

Property gains value over time (as long as you keep it up.) By putting your money into different rentals, you are diversifying your real estate investments. By getting a rental in the first place, you are diversifying your investment portfolio. It’s good to branch out!

Tax Benefits.

There is a whole list of items eligible for tax deduction when you become a landlord: mortgage interest, repairs to the property, keeping a home office, your rental’s insurance, depreciation. These tax benefits go a long way toward mitigating the costs associated with owning and operating a rental, which means more money in your pocket.

Inflation Safety Net.

Raising rents can help you keep up with inflation.

Retirement Income.

Real estate investment is an excellent retirement income. As long as people need a place to live, your property will help you finance a comfortable retirement.

Control Over Your Investment.

Although keeping your rental long-term gives the best financial gains, you still have control over when to sell.

Other considerations:

Being a landlord sets you up for what’s called a passive income stream: the property accrues value even while your tenant pays the mortgage interest. But this is not a “set it and forget it” deal; absentee landlords open themselves up to a slew of losses, such as extensive property damage by tenants who think they’ll never face consequences and even lawsuits from tenants if their repair and maintenance requests aren’t heeded. Face time with tenants is the best way to avoid these unpleasant events. Still, most landlords agree that a flurry of maintenance and repair activity a few weekends out of the year is worth the effort.

Investing in rentals is the kind of personal business that lets you set the tone. Want to help lower income families out? You have the executive power to lower your rates to match those needs. Want to upgrade your property and get more income out of it? You can choose all the details of your renovation (or just do it yourself, and save thousands of dollars!) and set the rent to reflect the higher quality of your property. It’s really up to you.

Want to learn more about properties available in East Tennessee, and start your own rental investment? Please check out darlenereeves-kline.com.

 

 

 

 

Easing Retirement Concerns

Retirement brings with it dramatic life changes. Those approaching this milestone have concerns.

Real estate is about more than just location, location, location! It’s about investing in a life of security and comfort, and it’s even about having something solid to leave as a legacy. Many people choose to relocate (or stay put!) in Tennessee because land is affordable and the cost of living/standard of living ratio is among the very best in this country.

retire-tennessee
from retiretennessee.org

Retirement brings with it dramatic life changes. Those approaching this milestone have concerns, about finding stability, financial safety and finding a life of fulfillment after a lifetime of focusing on a career. CBS Money Watch addressed a few of those concerns in this article.

We took a few points and tailored them to fit those recent or pending retirees who might be looking to move to Northeast Tennessee.

Concern: running out of money.

“Between saving enough, being able to spend efficiently, affording your desired lifestyle and the possibility of outliving your money, running out of funds is likely your top retirement concern.”

You can outrun your budget no matter where you live, but if you stick to your limits, this upper right corner of Tennessee is a great place to stretch the value of your dollars. Hiking, swimming, sight-seeing…all this greatly increases quality of life and costs almost nothing. Home costs and energy bills are very low in comparison to other states, in part due to milder weather and in part due to lower prices.

Concern: feeling empty.

“Consider taking up some hobbies more seriously, joining a local group, spending more time with friends and family or planning a trip to kick off your retirement.”

friends-of-smokies
friendsofthesmokies.org

Thriving arts communities in Morristown and Rogersville, golf clubs, Friends of the Smokies, volunteer opportunities…our area is built on community. Leaving your career can make you feel unmoored, but the solution is to find a new tribe, a new purpose and like-minded group of people to help anchor you in this new stage of life.

Concern:  healthcare.

“Just one reason it’s important to maintain an emergency fund into retirement.”

Moving to a rural area doesn’t mean sacrificing the quality of your care. Overall lower living costs in Tennessee are a boon to those needing to pad their emergency fund, or pay for prescriptions and other ongoing medical treatments. Also, the medical community in Hamblen, Jefferson, Grainger and surrounding counties includes a wide variety of professionals, ranging from medical doctors and nurses to chiropractors and osteopaths. This means a wide range of care is available to you, close to home.

Concern: falling home values.

“If you planned your retirement timing and total savings taking in the factor of home appreciation, it’s a good idea to allow that to be a bump up in lifestyle but not the money you need to live.”

If you plan to sell your home in a state with higher home prices, you might be pleasantly surprised at how much house your money will buy in Tennessee. With what you have left over, you’ll be able to pad out your emergency fund or pay for a trip to Dollywood when your grandchildren come to visit!

If you’re interested in listings available in Northeast Tennessee, please visit my website at darlenenereeves-kline.com.

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Education in Jefferson County, Tennessee

Check out Jefferson County! It might be the perfect “fringe-rural” spot for you and your family.

Fringe-Rural

Jefferson County is termed “fringe-rural,” which means it has both urban and rural attributes. With a hop and a skip in one direction you can be in dense woods, hunting deer or turkey without another soul in sight for miles. Take a jump in the other direction and you’re in Knoxville, Morristown or Sevierville. The biggest appeal of Jefferson County is its lovely rural land situated close enough for an easy commute to one of these bigger cities. Population here isn’t very dense, but there are many resources and cultural sites in the area. Carson-Newman University, a pre-Civil War institution, is one such cultural beacon. For a family who might be on the lookout for someplace close to the bigger city of Knoxville (a little over or under 30 minutes away, depending on your in-town destination) yet rich with country charms, making a home in Jefferson County just might be ideal.

The public school system is made up of 12 schools, one of which is an alternative school and one of which is the Jefferson County High School. Find out more about the Jefferson County public school system here.

Resources

The public school system also has supplementary family resources, from information about babies and very young childhood to resources on free kids’ books. ( Did you know Dolly Parton founded a statewide early reading program called the Imagination Library, which sends free children’s books to preschool-aged kids?) If you’re new to parenting, or just looking for a bit of information, go here to find out more.

Jefferson County High School

jchs-patriots-logo

Jefferson County High School is the system’s only high school. According to U.S.News.com, student enrollment for 2016 is 2,102. Boy-girl ratio is pretty even, at 51 percent male to 49 percent female. Student-teacher ratio is 16:1, and there are opportunities for Advanced Placement courses and exams, which give college-bound students a real leg-up. In fact, many high schools in Tennessee are pushing to improve the availability and passing rate of their AP programs. Overall high school graduation rate is 90%.

Jefferson County Private Schools

There are two options for private schooling of little ones in the area.

Jefferson Montessori School is a very small school for little ones. Fans of Montessori say it’s a great way to give kids a jump-start on a love of learning, especially in the important early formative years. You can contact them at:

Phone: (865) 475-5250

Po Box 489, Jefferson City, TN 37760

Blue Springs Christian Academy is a Pentecostal School run by volunteers. It’s a very small, private school for kids K-12. Reach them at:

3265 Blue Springs Rd, Strawberry Plains, TN 37871

Phone: (865) 932-7603

Carson-Newman University

carson-newman_seal

Of course, for post-secondary education in Jefferson County there is Carson-Newman University, the historic liberal arts Christian school that has been an important part of life in Jefferson City since 1851. They offer fifty different majors in on-campus and online courses in fields such as art, education and health pre-majors (to name just a few). It’s a small campus, with 2,528 students are enrolled there as of 2016. Visit their website to find out more about the school.

Check out Jefferson County! It might be the perfect “fringe-rural” spot for you and your family. Visit my website at darlenereeves-kline.com to view listings.

 

Schools in Morristown, Tennessee

Who knew you’d be the one doing homework to send your kid to school?

Morristown has a lot to offer any family: beautiful parks, fabulous lake access, convenient shopping and restaurants, a vibrant art scene…but there are practical things to think about when moving to Hamblen County, too. Daily life (and livelihood) details matter a lot, like jobs, cost of living, and availability and quality of schools. Once you decide to make the move, starting early on school enrollment is a must. In fact, you should arguably check on the best schools in your new area before you choose a house, as it might affect the neighborhood you need to live in for school zoning. Check out this article for tips on moving your kids to a new school.

school-cartoon
From Clipartpanda.com

As we’ve said, one of the most important things for parents to consider when moving to a new area is the quality of schools, so let’s consider the many options Morristown has to offer in that department. There are more options than you might think for private education in addition to the public school system for kids in kindergarten through high school in Hamblen County.

There are 18 public schools in the Morristown public school system. That number includes one alternative school and two high schools (Morristown East and Morristown West are football rivals from way back!) Visit the public school website for Hamblen County here.

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Morristown East High

According to GreatSchools.com, the top schools in Hamblen county are Alpha Elementary (K-5), West View Middle (6-8), John Hay Elementary (K-5), and Witt Elementary (K-5). These schools are chosen based on comparison of standardized testing scores.To learn more about these schools’ rankings, visit here.

Niche.com rates Hamblen County public schools overall at #14 for the whole state of Tennessee for the year 2016. That’s based on a slew of categories, including test scores, college readiness and graduation rates. That’s 14 out of 100. Not bad! Check out the website for more information.

Some parents disagree with public school policies or feel strongly about private school education because of personal beliefs. Many families are choosing to go an alternate route in educating their children.  If you’re one of those parents, Morristown has you covered, too. Hamblen County is home to six private Christian schools. Visit PrivateSchoolReview.com for more information.

The two biggest private Christian schools in Morristown are All Saints Episcopal School, with over 100 students enrolled in  Pre-K through 8th grade, and Cornerstone Academy with over 100 students enrolled in kindergarten through 12th grade.

all-saints

All Saints is poised to celebrate their 50th anniversary next year (2017). Visit their website to learn more about the school. Cornerstone, founded in 2006, has broken ground on a brand-new addition to their campus. They’re expanding! Visit their website to find out more about Cornerstone Academy.

cornerstone

There’s a lot to consider when choosing the best school for your child! This article in Time has some good tips about what makes a good school.

This article from The Washington Post also has some great tips on making the school choice.

Who knew you’d be the one doing homework to send your kid to school?

Please visit my website for information about listings in Morristown, Tennessee!

 

Arts in Morristown, Tennessee

If you’re an artist, or someone who appreciates the sense of community and creativity that artists bring to a town, Morristown, Tennessee might have more for you than you think.

Art!

You might expect to find a wide array of art in tourist areas like Sevierville or Pigeon Forge, or in a bigger metropolitan area like Knoxville.  But if you’re new to the Morristown, Tennessee area, I’ll let you in on a great secret that locals know: Morristown is a major hub for the area’s thriving arts community. Artists from surrounding counties display fine art at the Rose Center, which boasts the newly refurbished  Edith Davis Gallery, as well as a Local Artist Gallery. Rose Center hosts bigger community events, too, such as the Mountain Makins Festival. Morristown also has a lively Art Association, which puts on Arts in the Park every September. Read on to find out more:

 

rose-center
Photo from tngenweb.org

Rose Center

This historic center was built in 1892 as the town’s first coeducational public high school. Today it’s a “Designated Agency of the Tennessee Arts Commission.” In this beautiful building you can take anything from  an art or yoga class (or enroll your kids in one!), to one of the Center’s courses on writing grant proposals for arts programs in our area. There’s even a Children’s Touch Museum and a Historical Classroom! The Center’s classrooms and reception areas are available to rent for community programs, weddings and baby showers.

According to RoseCenter.org: “Classes currently available may include guitar, acrylic painting, jewelry making, children’s art, drama, Zumba, tai chi, cake decorating, clogging, and more!”

If you have a skill and some time, Rose Center’s volunteer staff is happy to hear from you.

Rose Center is open Monday through Friday, 9-5. Visit RoseCenter.org for more information about the history and programs of Morristown’s cultural arts center.

Mountain Makins Festival

mountain-makins-festival-at-rose-center-in-morristown
Photo courtesy of visitmorristowntn.com

This is the 41st year for this acclaimed festival, hosted by the Rose Center Council for the Arts.

RoseCenter.org describes the festival: “The award-winning festival, started in 1976 as a way to raise funds to save historic Rose School, celebrates the very best of Appalachian culture, from crafts to music. The festival is a delightful combination of crafts, food, music, dancing and fun.”

This is one venue where you can get a ride on a pony, snack on some delicious fair food, stop by to check out  a banjo-strumming virtuoso in period garb and ogle local arts and crafts. Fall is incomplete without a good festival, and this one certainly fits the bill!

Visit Mountain Makins FaceBook page here.

Morristown Art Association

This thriving community of artists hosts a juried art show at the Rose Center, as well as gatherings and workshops throughout the year. In September they put on Arts in the Park, a family-friendly art show with live performances, food and local arts and crafts available for sale. They even include a tent where kids can make art with the help of a professional artist.

Visit their FaceBook page for information about upcoming events and membership.

If you’re an artist, or someone who appreciates the sense of community and creativity that artists bring to a town, Morristown, Tennessee might have more for you than you think.

Don’t forget to visit darlenereeves-kline.com/ for more information about listings in Morristown.

Savoring Fine Wines in East Tennessee

Whether or not you’re interested in growing your own grapes, you can sample East Tennessee’s delicious bounty in a wine tour.

The Sevierville/Pigeon Forge/Gatlinburg area is bursting with vacation ideas and entertainment for every member of the family. Dollywood and Splash Country, miniature golfing, the strip at Gatlinburg…all these offer hours (days!) of fun, especially if you’re making memories with your children.

For those who want to get away from the noisy tourist destinations, there is always The Great Smoky Mountains National Park, with miles and miles of hiking and backcountry backpacking waiting quietly for your exploration. There are other natural attractions in the area, too; white water rafting on the Big Pigeon river is just minutes away from Gatlinburg. Ober Gatlinburg offers skiing and snowboarding in the winter and other fun attractions in the summer. (Visit obergatlinburg.com to find out more.)

But there’s another side to Sevier County that’s really coming into its own lately: fine wining!

wine-tour

Due to its humid and temperate climate, East Tennessee was once well known for its vineyards and wineries until Prohibition in 1919 (see www.tennesseewines.com/history for a brief history of wine culture in Tennessee.) Most people are familiar with moonshining that came after that, and the backwoods racing to outrun the revenuers that spawned the sport that is now known as NASCAR.

But now, wine is back on the menu in East Tennessee! Some of our vineyards have been back in business for decades, and many others are newly flourishing in our area so uniquely suited for growing grapes. See this informative publication from the University of Tennessee for information about growing grapes in our area.

Whether or not you’re interested in growing your own grapes, you can sample East Tennessee’s delicious bounty in a wine tour.

The Four Rivers Wine Trail includes Blue Slip Winery (in Knoxville), Eagle Springs Winery (in Kodak), Richland Vineyards, Spout Spring Estates, (both in Blaine) and The Grape Barn at Nolichucky Vineyards (in Russelville). Visit their website for more information.

The Rocky Top Wine Trail includes six wineries open for tastings and tours, all on hwy 66/441 between Kodak and Gatlinburg: Eagle Springs Winery (Kodak), Hillside Winery (Sevierville), Apple Barn Winery (Sevierville), Mountain Valley Winery (Pigeon Forge), Doc Collier Moonshine Distillery (Gatlinburg), and Sugarland Cellars (Gatlinburg). These wineries have even partnered with Elite Limo Tours if you need a designated driver.

rocky-top-wine-tour

Visit rockytopwineries.com/wine-trail for links and directions.

Once you have chosen your favorite bottle (or bottles!), take it home to savor the flavors of the warm sun, gentle breezes and nourishing summer storms. The Rocky Top Wineries participate in a wine club, with significant member discounts. Learn more by clicking here: rockytopwineries.com/wine-club.

If you’re not a local yet, you can always rent a chalet in Sevier County. Visit here or here to search for accommodations. And, of course, should you fall in love with the area and want to start looking for your own place to call home in East Tennessee, visit darlenereeves-kline.com for listings and information.

Jefferson City: Past and Present

Jefferson City, like many places in East Tennessee, is very proud of its storied history.

Jefferson City, like many places in East Tennessee, is very proud of its storied history. The area served as a springboard for many prosperous businesses, and some local families can trace their lineages back to before this great country could even call itself a country! Union forces marched through during the Civil War, leaving marks in the destruction of buildings and legends passed down for generations since. Old Time Saturday is coming up, a festival dedicated to celebrating community. Come out if you can; it’s a great opportunity to learn more about the area’s history. While you’re here, swing by two of Jefferson City’s great landmarks: Carson-Newman College and Glenmore Mansion. Keep reading to learn more about them.

Old Time Saturday

old-time-saturday

No town in Tennessee is complete without a fall festival! Jefferson City is no different; each year in October locals and visitors alike come out to celebrate Old Time Saturday. There are vendors selling crafts, food, curiosities and delights. There is people-watching aplenty as families come out to mingle and celebrate some of the last warm weather of the year. Maybe best of all is the live music, including fiddle-sawing kids and dancing in the street. Please visit the Jefferson County website for more information.

The Old Time Saturday Facebook page can be found here: www.facebook.com/OldTimeSat.

This fun festival is a great chance to wander around historic Mossy Creek, where old brick buildings and shady roads still speak of history.

Carson-Newman College

carson-newman

Carson-Newman College is celebrating its 165th anniversary this year (2016). In 1851, the institution opened its doors as the Mossy Creek Baptist Seminary, but it only kept this name for five years; in 1856 it became Mossy Creek Baptist College. The college shut down during the Civil War, when it was overrun and damaged by Union soldiers. Eventually, the name of the college was changed to honor a local trustee (J.H. Carson) and when it merged with a nearby college for women (Newman College) the name finally morphed into the one we know and love today: Carson-Newman College. The college is active in the Jefferson City community, especially in the revitalization of the Mossy Creek area, which we discussed in an earlier blog. Please visit www.cn.edu for more information about the school, including community events.

Glenmore Mansion

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The historic Glenmore Mansion, in the Mossy Creek district, has graced the hill on what is now called North Chucky Pike since 1868. It was lived in by two families who were prominent in local business: the Branners and the Jarnagins. Saved from the auction block in 1970, the mansion has undergone several phases of restoration. It is a beautiful piece of preserved history. There are periodic community events at Glenmore,  as well as private parties and weddings available by appointment. Tours are available on weekends from May to October. Call (865) 475-5014 for more information or visit glenmoremansion.com.

Not everything in Jefferson City is about the past; revitalization efforts are helping the city to grow day by day. The new festival park being constructed in Mossy Creek is just one example of this. Visit The Citizen Tribune to learn more about it.

Visit darlenereeves.com for listings and information about Jefferson City.