Blowing Rock, NC Real Estate STR Market

[Troy Harris]

I live in the triangle and we like to visit the Blowing Rock area a couple of times per year. We have LTR in Raleigh which I am planning to sell to the current tenant. My plan has been to 1031 the funds into a property in Blowing Rock so I have been watching the market for over two years now... just doing my homework before contacting an agent in the area. The properties that meet my criteria (3-4 bedroom turnkey) if I were ready to buy are gone in 1-3 days. When I've looked at rental history from comparable homes in the past I've felt very secure in the STR income to pay the mortgage but lately I am starting to rethink this. At this point I'm thinking an average of $5K monthly in STR income is needed based on housing costs. My question is to anyone in the area currently owning and managing STR's, does that seem feasible? Lately I've been wondering if I should just aim lower at a 2 BR which is not ideal for me and obviously reduces the pool of possible renters, but would also put me closer to $3K per month needed to cover costs.

[Luke Carl]

You’re looking for Garret from the short term shop. He can help.