How best to find counties friendly to STR?

Question

Hi all, I am currently trying to sell one of my STR’s via 1031 for a pretty decent profit. I want to find a large lake front home - but need to STR it for two years before I can make it my permanent residence which is the goal. I would like to at least break even during these two year of not being able to live in the home.

How do you find counties )without looking up each one) that are friendly to STR?

I am specifically interested in lakes two hours or less from Atlanta, GA  Airport or Charlotte, NC.

Lake Lanier, Lake Oconee, Lake Norman etc.

Budget will be 1.2m or less.

Thanks

Alan Ford · Answer

Thanks All!

Paul Chapey · Answer

@Alan Ford I live in Mooresville, a Lake Norman community, and I see many STRs in Mooresville. I think Lake Norman encompasses at least four counties: Iredell, Mecklenberg, Catawba and Lincoln. There are many cities and towns. North Carolina counties are very small in size, a fraction of CA. county size.I moved to the Lake Norman area five years ago from Canyon Lake. From 2011-2015 flipped about  15-16 houses in Temecula. I like Temecula a lot. I lived in SoCal for 45 years. Lake Norman is a fantastic place.

Dave Foster · Answer

@Alan Ford, Figuring out local statutes for each area will be a huge undertaking.  Just thinking about your end goal.  Since it's going to end up being your primary residence I'd narrow the field down to where do you want your next primary residence to be.  Then see what the local statutes are for rental.  STR statutes have been written on the fly for so long there's very little consistency.  And that opens up the door to creatively make things work within the law many times.

So figure out the perfect spot for you and then see if the statutes can bend to your needs.

Paul Sandhu · Answer

Look on Craigslist for vacation rentals.  If you see a community or area that has a high concentration of them, there is probably a reason for this.  You can figure out the rest.

John Underwood · Answer

Check out Lake Keowee and Lake Hartwell. We have a house on Lake Hartwell that does very well.

It is two hours or less from Atlanta, GA Airport or Charlotte, NC.It is also about an hour away from GSP airport in Greer, SC.

It is close to Clemson University so you can rent for fall football games, University related events and Graduation.

There are major fishing tournaments on Lake Hartwell.

Close to I-85.

There are several marinas and restaurants on the lake.

Lake Hartwell borders GA and SC. 1000 miles of shoreline.

Avery Carl · Answer

You have to look up each one haha