STR IN WESTERN NC

[Kelly Olson]

I am interested in purchasing a STR property in WNC, specially Maggie Valley. Can anyone recommend a good realtor that really knows the STR market, I will be up the week of 4/10 to see properties. What are the services like in the area in terms of internet and cell coverage, I heard they can be spotty. I am looking to make a purchase right away if I can find the right property. Maybe there are other areas I should be looking at too, any info would be appreciated.

Thanks Kelly Olson

[Jarrod Covey]

Quote from @Kelly Olson:

I am interested in purchasing a STR property in WNC, specially Maggie Valley. Can anyone recommend a good realtor that really knows the STR market, I will be up the week of 4/10 to see properties. What are the services like in the area in terms of internet and cell coverage, I heard they can be spotty. I am looking to make a purchase right away if I can find the right property. Maybe there are other areas I should be looking at too, any info would be appreciated.

Thanks Kelly Olson

 Don't have a realtor recommendation -- but I do recommend your own side research before pulling the trigger

1. 1. Location & Regulation: Research popular tourist spots, nearby attractions, and local STR regulations.
2. 2. Market Demand: Log onto Airdna, they have free account where you can examine occupancy rates, average daily rates (ADR), and seasonality as well as AIRBNB vs VRBO listings in the market.
3. 3. Property Type and Amenities: Determine the ideal property type, size, and the top amenities for the highest performing short term rentals in that area.
4. 4. Income estimates: Utilize the ADR identified on Airdna to roughly estimate expected gross revenue
5. 5. Expense estimates:  Establish rule of thumb based on size of your house for floating utilities and other costs paid monthly
6. 6. Property Management: Assess available self-management or professional property management options and their fees.
7. 7. Keep track of Net Profit Listings: Once you've identified the area, size of house, debt service tied to house, floating monthly expenses, and potential monthly profits -- write them down in trackable list

This diligence will make you more prepared and provide better risk management than going directly to agent

[Mitch Davidson]

@Kelly Olson. I have an STR and MTR in the market you're targeting. I'm happy to provide some insight, and likewise to connect you to anyone you might want to know here. I'll message you.

[Bukola Babalola]

You can Google Tyler Coon. He's an agent in the area.

[Bonnie Low]

I HIGHLY recommend Tyler Coon at Savvy Real Estate. We just closed on an STR in Lake Lure, NC. He knows WNC very, very well. Their team made our transaction so easy and they're still helping us post-sale. For example, I needed to know where our septic was today and they were able to dig up a property sketch and send it to me. They've also provided contacts for cleaners, handymen, landscapers, painters, etc. You can't go wrong with Tyler's team.