As part of my never ending search for a new place to call home I located a place in Russel Springs KY that might work.
I retired last year (mostly) and can't wait to see Chicago and IL. disappear in the rear view mirror.
The major searches for a new place has centered around TN. I stumbled across a place on Lake Cumberland in KT that is seemingly fantastic.
It does not have the acreage I was hoping to find but sits high on a bluff overlooking the Lake. It is also listed on many sites as a rental.
The owner states he receives $60,000 a year from rental and says he's VERY picky as to who he rents to. He does not live there but does stay there to enjoy the seasons, He and his wife live in Florida.
This would work well for my wife and I as we want to be able to take off for several months at a time, through out the year in our Motorhome.The rental income would be nice in our absence.

What say you about this area and Lake Cumberland. Nothing is better than a locals insight.

What are you looking for out of retirement??
Aside from the lake there is not much to do there. We get awful cold here. So winter and fall months there is little to do.
Somerset will be your closet venue with a mall, Lowe’s, Hospital, etc. though none of them are much to speak of.
Hospital especially you will likely head to Lexington maybe Knoxville.

What the heck is he renting for $5,000 a month???? I call BS there.
Highly unlikely anyone is renting the from October to March for anything more than $100 a day. And have full time occupancy in those months I highly doubt unless he has a single year long tenant. But still $5,000 a month. No way.
What sort of property are we talking?

quote:

Originally posted by Black92LX:
What are you looking for out of retirement??
Aside from the lake there is not much to do there. We get awful cold here. So winter and fall months there is little to do.
Somerset will be your closet venue with a mall, Lowe’s, Hospital, etc. though none of them are much to speak of.
Hospital especially you will likely head to Lexington maybe Knoxville.

What the heck is he renting for $5,000 a month???? I call BS there.
Highly unlikely anyone is renting the from October to March for anything more than $100 a day. And have full time occupancy in those months I highly doubt unless he has a single year long tenant. But still $5,000 a month. No way.
What sort of property are we talking?

Its a log, 6000sqft, 3 level home. It sleeps 12,with 2 kitchens.
Its offered at $500 per night with a 3 night minimum stay.
I was planning on living there as my primary residence, but renting when I would travel a few months of the year, not thought of as a investment property but as some income to help cover costs.
Its called "Look out lodge (LOL) on lake Cumberland", if you want to view it.
Thanks for your advise.

That makes a bit more sense.
Lake season it would likely do well. Though if you plan on winter travel I am not sure how well renting would do.
Fall can be really nice leaves changing but from year to year one never knows what temps are like.

How many acres is it on?
Does it have a boat slip or it’s own lake access? Does not read that way from the listing.

There is lots to do in the summer months within a 2 hour drive if you don’t want every day at the lake.

Just over 1 acre. No boat slip but marina near by.

https://www.zillow.com/homes/f...5.261803_rect/10_zm/

Will certainly be a change from Chicago.
Likely not a bad thing.

Russell County Sportsman’s Club will likely be your best bet for shooting.
http://www.russellcountysportsmanclub.com

There are a couple public ranges over in the Daniel Boone National Forest.


If you hunt and fish you will have plenty of that to do.
Deer hunting is a plenty.
You would be in Zone 2 of 3 for Black Bear
Elk lottery each year is a big deal.

Cumberland provides for some good fishing but you would not be too far from Rock Creek either if you want to do some trout fishing.

Feel free to shoot me an email if you need anything or want to know more specifics. I am a little over an hour north east and have about 25 acres a bit south of the lake on the KY/TN state line.

Looks like an awesome view.
I have a cousin who lives there in Russell Springs (is even a street there named after my uncle - now passed) there but it has been a very, very long time since I was there as a kid.
Small world.