Lake Norman Airbnb anyone?

Question

Looking to get a house in Lake Norman North Carolina to Airbnb and curious to see if anyone that has done it before in that area has some experiences to share!

Mark DiPietro · Answer

@Gabor Halasz couldn’t agree more about our area. While I think there is some value in AirBnB up by the lake, it’s a big ticket investment for what I would call a moderate return.

Hope all is well with you!

Levi Bennett · Answer

Hey Johnny, I live in the LKN community and I know a few people that do it, generally speaking, this community is one of the most expensive in NC, and lakefront land is massively expensive to make an airbnb work. It's certainly possible, but you'd have to have some unique parameters, because usually these lots are scooped up with cash buyers that build primary residences. If I were you, I would go to airbnb, search for the kind of house you want, write down street names, and look for homes for sale in those neighborhoods and then crunch your numbers from there. I've spoken with a few people who have inherited homes, or have some kind of weird situation where they are able to airbnb where neighbors can't, and they cash flow extremely well, but as a general rule, I don't think many people do it because it's hard to be competitive with the market the way it is around the Lake.

Logan Hartle · Answer

Hey Johnny. I have some connections with property managers who specialize in short term rentals (airbnb, vrbo, etc). If you’d like to connect I’d be happy to introduce you to them.

Jordan Lockaby · Answer

@Johnny Hoang, any experience or interest in Western NC?

Johnny Hoang · Answer

Thanks for the input guys. Yeah, I'm very curious.

I have a buy and hold portfolio in other parts of NC around the triangle and during my last visit to NC few weeks ago I stayed at this Airbnb that was split into 2 different units.  It was a colonial home, right around the corner from Lake Norman and thought it was one of the coolest experiences I've had in North Carolina.

Gabor Halasz · Answer

Hi Johnny,

We moved to Cornelius from the Bay Area few years ago. We did 1031 exchanges for our rental portfolio and  we looked into Airbnb options than and also has been thinking about that ever since. For us long term rentals make more sense and we don’t see long term stable profitability for Airbnb. I’m sure we don’t see the whole picture and it might be possible. I also wonder if someone is able to make it work and profitable :)

Lake Norman Airbnb anyone?

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