Cabin as an investment property in Morganton / Blue Ridge, GA

[Account Closed]

Hello everybody. My husband and I are in the process of buying a rental property cabin in Morganton, GA. It is located near the Blue Ridge and is really close to all the fun in the area. We kind of had a rapid emotional decision while being on vacation there and immediately put an offer without really analyzing the market first. The cabin is really nice inside and completely turn key and we are planning to use it for ourselves for 3-4 times a year. What really bothers me now, is that there is neither  mountain nor lake view, just woods view. Also it is near the quite a busy road and you can hear (moderate noise) cars passing by. My question is, do you think it would rent out anyways as there are also folks who don't mind the view and the "stillness" of the surroundings or do you think our vacancy rate will be really high? We at least aim at paying off our mortgage and other expenditures connected with the cabin. We got a really good mortgage rate due to the fact that it qualifies as a vacation home, as we are from Florida. Also, we are going to self-manage remotely. Thank you for any feedback.

[Sofia Sharkey]

@Elena Coney

I absolutely second what @Brenden Mitchum said and I’m someone with experience in the short term rental industry. Here are my thoughts.

1. Vacancy is not everything. It boils down to profits. I can have units vacant for a whole week and that’s ok because my prices are optimized. Meaning when I get a booking, I get a good booking. It’s less stress, less logistics, and more profit.

2. Since you have airdna, look up revenue and vacancy around that area for similar listings (i.e 2 bed / 2 bath etc)

3. Go to Airbnb and check listings in that area with the same specifications as your house. Check the calendars to see their prices and how far they are booked for

4. Ultimately, know your numbers. Get paper and pen and figure out how much does the place need to make to cover the mortgage and bills. For instance, if you need $2K a month minimum, and you see the average price is $200 a night - do the math and see how booked does your place need to be? Go from there.

Those are better ways to determine if this is a good investment for you going forward.

Good luck!