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Updated almost 4 years ago on . Most recent reply

Best places in NC for short term rentals/vacation rentals?
Where are some of the best places in North Carolina for short term rentals?
I have been looking into Asheville and Boone a lot but if anybody else has suggestions on different locations I’d like to take a look.
Thank you!
Most Popular Reply

@Matthew Jackson -- I am asked a similar question all of the time to the one that you are asking. I'm asked about the best place to invest in my area. My response is the following:
1. Can you help me to know what your goals are, your resources are, and what your risk tolerance is?
2. Once I know more about their "goal box", "buy box", available time and money, what they are willing to lose, and what their time frame is, I can (attempt to) provide solid advice.
For example, if someone wants to be a long-term rental buy/hold person, it's important to know if the goal is more cash flow or appreciation, more tax strategy or forced, equity, etc. Those goal answers will drive location and type of property.
So....regarding the STR question, some of the best places today in terms of generating revenue may be in places that are the riskiest in terms of future government regulations. One person would say that that is okay because their focus is on the revenue generation and there is a good back-up strategy in place if the STR regulations change. Another person may say that the risk makes that particular location a no-go.
Thoughts?