Blue Ridge STR investment

18 Replies

Anyone investing in the Elijay/ Blue Ridge, GA area willing to share their experience. How are your vacation rental(s) performing (occupancy, average nightly rate) ? We love the area, but are not sure how the occupancy and return compares to other mountain markets. We were originally considering the smoky mountains but it seems the prices are through the roof there right now! 

Prices are through the roof everywhere. I have 2 in Pigeon Forge and despite rising prices I still project 20%+ CoC returns on many cabins that I've analyzed this year, and that is with a 20 to 25% down payment. Obviously it is always deal specific so do your due diligence.

One of my good friends has a cabin in Ellijay and is loving it. He is around 80% occupancy for the year on a 2/2. Prices in Ellijay and Blue Ridge are lower than the Smokies but rates are slightly lower as well from what I’ve seen. Once again it is all deal specific. 

Hey @Hanan K. we are actually closing on our first STR in Blue Ridge (4Bed/3Bath) this week. Prices have definitely gone up even just from the time we started looking to the time we got this one under contract (a few months), which is crazy, but the numbers still worked. My partner owns a couple in the Smoky mountains and they obviously perform very well, but we do anticipate that the BR cabin will do quite well, too. I'd be happy to chat more about it with you!

@Michael Craven Congratulations! We put an offer on a 3/3 in blue ridge this week. Offered 80K over with limited contingencies and were beat! The market is definitely hot. My question for you is how did you analyze your property? How were you able to establish the average daily rate and expected occupancy. When I look at calendars in Elijay, they look sparse. Blue Ridge definitely seems to be more booked but even with blue ridge, it seems it's only a month to six weeks out. Hard to gage how the market is performing. We have a cabin in Tahoe and a VR in Napa Valley. Both do amazing but we are moving to North Atlanta next month and I'm looking for VRs in that area. Thank you for your input!

@Hanan K. We used Yok Re and he is FANTASTIC. Super helpful and has a lot of insight into the area.

And as far as analyzing the occupancy and average rates, have you checked out the Short Term Shops blog that has the 2019 and 2020 data for Blue Ridge and Ellijay?

@Hanan K. We also work with Yok! About to my live with our first (5/3 in Morganton) and under contract for a new build in Epworth. He’s got analysis he can share with you and a great team behind him - The Short Term Shop.

I live and invest in Blue Ridge GA. It’s a great short term market and if you find the right deal also does good for long term. Purchase prices are really high here though compared to neighboring county’s. I also invest in Murphy NC it’s just up the road and a better price point. I would be interested in in talking to Yok RE if anyone has the contact info.

Originally posted by @John Davenport :

I live and invest in Blue Ridge GA. It’s a great short term market and if you find the right deal also does good for long term. Purchase prices are really high here though compared to neighboring county’s. I also invest in Murphy NC it’s just up the road and a better price point. I would be interested in in talking to Yok RE if anyone has the contact info.

I just hunted him down! https://www.facebook.com/north...