Considering a Vacation Rental in the Outer Banks, NC

[Chris HartNova]

I am new to Bigger Pockets and real estate investing.  

Considering a vacation rental purchase in the Outer Banks, NC and have lots of questions.

Any thoughts on the area and if it is worth while to consider it for a vacation rental?  

What are the downsides to the location if any?  Upsides? 

Any recommendations on a good agent to work with in the area that understands the market and specializes in vacation rentals?  

Just trying to figure this all out.  

Thanks, 

[Luke Carl]

@Avery Carl  is the cabin queen on the Tennessee side of the mountains I'm sure she can refer you to an agent that can help you out. 

@Chris HartNova As far as your specific questions... you're hoping that someone on here is in your market and doing what you're doing and that is not likely. There are very few of us that frequent this forum and as far as I know none of them are in NC. Even if someone is close by and replies it's not likely that they own and operate a VR. 

I should mention the unspoken disclaimer of this forum which is something like this.... Contact the local government and find out the rules and regulations for short term/ vacation rentals. If they have permits or you can find info about the topic on google news..... beware. Stay away. If there are thousands of houses on the beach on airbnb... You'll be fine. 

After that, your best bet is to study airbnb and vrbo. Find folks that have listings similar to what you're looking to get in to and send them all the same message. 

"Hello! I'm in love with this area and I'm looking to purchase my first property I'm wondering if you could give me some advice as far as what to expect and any suggestions you may have before I get started as I'm a bit scared but eager. Any reply would be much appreciated!"  Your homework for today is to send that message or something similar to 50 hosts.

If you happen to run across a host such as myself, I would reply back instantly with my phone number and have you call me and talk your ear off for 2 hours about exactly how it works and what to do to get started and what towels to buy and how to hire your cleaning crew. Why do I do this? Because I will learn something from you by letting me tell my story.  Unfortunately, the reality is you'll be very lucky if anyone writes you back. But this is the best place to start! It's no different than anything in life. Find people that are doing what you want to do and ask questions. I'm a runner, training for my 21st full marathon. I'm constantly seeking out other runners and running with big groups to learn more and get faster. 

If you want to fly with the eagles don't swim with the ducks!!! 

And as always you're welcome to PM me I'll give you my phone number and teach you everything I know in a one hour conversation. Half of the info will translate the other half will be market specific. I currently own and manage 5 vacation rentals in Pigeon Forge / Gatlinburg remotely from Nashville with a day job. Under contract on a 6th. 

Keep us posted! Good luck!