Air BnB, short-term, vacation rentals in NC and SC advice

[Sarah W.]

I've read a few older posts on this topic but would love to hear from anyone doing short-term rentals  anywhere in NC and SC, particularly in Charlotte, Boone, and the coast. I am researching what market would give the best returns and have the lowest occupancy.  Charlotte is my local market and it seems there is quite a bit of activity in the uptown area, Dilworth, Elizabeth, and Southend but they are also expensive to purchase in right now. Not sure if the returns would be worth it.

The other options I'm looking into are Boone, Charleston, and the Oak Island areas. From what I've been reading, the coastal areas typically do not cash flow due to the 13 week peak season and the rest of the year vacancies, in addition to the higher maintenance costs, etc.. Boone seems to be saturated with vacation rentals, but I'd use that property a bit more since it is closer to home.

Any guidance or experience in these areas would be much appreciated! I'm trying to make a couple of purchases this year before rates start climbing.

[Justin Tahilramani]

@Sarah W. - I think that most people miss the mark with regards to Short Term Rentals. Most people think about STRs as being predominantly located in vacation destinations. In reality - you can kill it by investing in STRs that are located in business destinations. I have STRs in Cameron, NC. Even if you're from NC - chances are that you may have never heard of the place. My STRs stay booked, often for months at a time. The reality is that there are literally hundreds of reasons that someone may need a fully furnished place to stay. They might be a nurse on a temporary assignment, they may be building a house and need a place while their home is completed, they may be visiting family in the area.... The list goes on and on. I would much rather have a businessman or woman stay in one of my units for 3 - 6 months versus constantly turning the unit every 2-7 days.