Beech Mountain short term rentals

[Christina L.]

My husband and I are looking to invest in a rental property in the Beech Mountain/Banner Elk area of NC. We were wondering if anyone on here has rentals in the area, how they have managed them, and how they feel about the overall investment.

[Terry Johnson]

Hello Christina - we recently acquired a home in Banner Elk that's just over a mile from the Sugar Mountain entrance. We had been planning to acquire a second home for sometime and finally decided to pull the trigger. What started off as primarily a second home with the possibility of short term leasing quickly flipped to a STR first and a second home when not rented because demand is so strong right now for STR's in this area.

We own 10 homes, but all the rest are traditional leases and are also close to our primary home in the Lake Norman area (all w/in 30m). A STR is a completely different animal in my opinion, in that it requires more work and much more compromise, but financially is worth the effort. The home has 6 bedrooms and comfortably sleeps 16. We do have a property management company and even with our experience with LTR's, just no way we could effectively manage this home without local property management.

We're excited to have made the plunge and likely will add a second STR in 2-3 years. Let me know if you have specific questions and good luck in your search.

Terry