Updated almost 5 years ago on . Most recent reply
Blowing Rock / Boone vacation rental investments
Has anyone invested in any vacation rentals in the Boone / Blowing Rock area? If so, what kind of property have you invested in (condo, cabin, house, etc.) and have you found it to be a good investment? And have you been able to easily rent it out for most weeks of the year?
We are in the beginning stages of considering an investment there, but interested to hear from others' experiences there. Thanks!
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Hi - just found this thread and thought I would chime in.
I just closed on a mountain cottage in Blowing Rock at the top of Appalachian Ski Mountain. it is currently in a rental program with a local agency doing about $40k a year or so in gross revenue, but the agency takes roughly 25%. it was on the higher end ($365k), but with the proximity to downtown Blowing Rock, the ski slopes, and Tweetsie Railroad amusement park, (plus it has an amazing view and 3 bedrooms), I was okay with the larger investment.
My plan was to take it out of it's currently rental program (which produced 46% occupancy total, with 10 months being in high demand), because I feel like them taking 25%+ is ridiculous. I was going to self-manage via Airbnb/VRBO, etc., but after further consideration am planning to use Evolve who charges 12%. I know there are downsides to Evolve but with them handling the photos, the listings, the dynamic pricing, and most importantly - the communications with guests and housekeeping, it just makes sense, as I run a full-time business and have a family, so my time is limited.
The place is booked with the prior agency through the end of Oct., and then I break free and my journey with Evolve will begin. If anyone is interested in how this all plays out, I will be happy to post some more and report R&E figures, etc. (The place came furnished but I am doing some redecorating, so will be starting a little in the hole.)