Newbie looking for location tips and general tips

[Sarah Woodman]

Hi, I'm new here. My husband and I live outside of Charleston, SC, and we have a few LTRs here. We are looking to get ourfirst STR in Western NC that we can also use as our own vacation home. We are interested in Waynesville, Brevard, and Bryson City, but leaning toward Waynesville. It looks like Brevard has a lot of new restrictions? What do you think of these areas for STRs, and/or would you recommend other areas to explore? Any other tips or knowledge you have to share would be greatly appreciated!

[Bruce Woodruff]

This is not specific to your area, but I think it applies to anywhere....

1) Choose an area that has a year-round attraction. Not saying that there aren't some areas that can generate a ton of money with shorter seasons, you just have to find them.

2) Try and find an area that everyone hasn't already discovered. I know, sounds like a dumb think to say, but think about it...

3) Be aware of the errr, I don't wanna just use the word 'politics' but you know, the overall attitude of the area. Are they STR friendly? And is that always a bad thing? Can you be the first one in and take advantage of the rules as they are?

Lots to think about if you want to be successful. But you must go there if you want to do this right.

Just my .02....

[Brooklyn McCarty]

Western NC is a great market! Very close and drivable to The Smokies and lots of great tourism 

[Loriel Keaton]

Hi,

We love this market. We own our own STRs in Maggie Valley and have property management company that also serves Waynesville. Happy to talk more any time.

Good luck!

Loriel 

[Mitch Davidson]

@Sarah Woodman. I'm happy to give you feedback on all of those markets. I have an STR in Bryson City and an MTR in Asheville. And before buying my STR I was looking hard at the other towns you mentioned, which are local to me. I'll message you.

Brevard. They've considered restrictions but for now seem to have decided against such. It's a great little town with much outdoor activity options, especially in the forest. Inventory is thin though. And STR revenue isn't great in some spots, especially far out.

Waynesville is great. It has a quaint downtown. It's closer to Asheville, which helps regarding activities but also appreciation. And it's also close to activities south of it.

Bryson is one of my personal favorites. It's a quieter place, and has just enough activity options...if someone tells you where and what they are. Bryson is a harder market to get help in though, but on the flip side that causes your competition to struggle and creates an opportunity. 

Two other markets I would look hard at, due to revenue, are Lake Lure and Black Mountain. 

[Zach Edelman]

I'd recommend hitting up Tyler Coon. He is an expert agent for STRs in NC.