My wife and I are looking to purchase a STR investment property in Western NC and we really like the Highlands and Cashiers area. Curious if anyone here can help us with a few questions:
- Any recommended realtors in that area with STR experience?
- Highlands recently banned STR rentals, effective in Jan '22, but only for properties in R1 zoning. For any current investors in that area, are you concerned with that rule expanding outside of that zone and into surrounding areas?
- How is occupancy? is it seasonal? I am looking at AirDNA and using the enemy method on AirBnB but there isn't as much data as in other markets and harder to get a read on it.
Investor · Raleigh, NC · Member since 2019 · 314 posts · 280 votes
4y
I'll vouch for @Ryan Howell as he's helped me buy a couple in Western NC although mine are north of Asheville (for now). Also helped others I know buy in other areas out there. Happy to share our stories !
Lender · Asheville, NC · Member since 2020 · 463 posts · 507 votes
4y
Hi @Stephen Gooding. I have a friend that purchased an STR in that area. I'll see if he liked his agent.
Regarding Highlands' ban, I doubt it'll last long. See this post for more on why. I'd go with Cashiers between the two. It's more accessible for one thing.
Regarding seasonality, I worried about that general region myself, as I too am shopping in the region. I asked some friends though, and their winters have gone really well. With Cashiers, you have skiing and tubing for winter activities, and then Lake Glenville for Summer water activities. And there are many other great outdoors activities down there. Many of them just aren't on a top 10 list. Using the All Trails app can be helpful in that regard.
Hope this helps. Please reach out if you'd like to discuss further.
Rental Property Investor · Hendersonville, NC · Member since 2016 · 446 posts · 412 votes
4y
@Mitch Davidson - It's getting a bit far for me. I go to Lake Toxaway and Saphire. Generally, I keep it to an hour radius from Hendersonville, which means I'll go to Maggie Valley, Waynesville, Mars Hill, Black Mountain, Brevard, etc for my vacation rental buyers
@Stephen Gooding - Best of luck. Still happy to offer any advice I can.
Mitch, if you hear back from your friend regarding the agent, let me know. Since you're looking in that area too i'll keep you posted if i find anything interesting out that way.
Lender · Asheville, NC · Member since 2020 · 463 posts · 507 votes
4y
Hi @Stephen Gooding, after tagging Ryan, I learned that my friend actually worked with @Ryan Howell on the Sapphire purchase. Happy hunting. Happy to help with anecdotes, ideas, etc.
Investor · Raleigh, NC · Member since 2019 · 314 posts · 280 votes
4y
I'll vouch for @Ryan Howell as he's helped me buy a couple in Western NC although mine are north of Asheville (for now). Also helped others I know buy in other areas out there. Happy to share our stories !