All Forum Posts by: Casey Millsaps

@Casey Millsaps I would definitely use the tools that @Gerald Pitts mentioned to see where the opportunities are, and also to manually comb listings. The region is very hard to get help in, and that shows in the listings. Meaning you'll see a higher frequency of lousy looking listings here compared to markets that have more infrastructure and population. Another concern of mine would be the fact that Robbinsville appears pretty depressed financially. What was the downtown is full of vacant old buildings. Meaning your guests are going to travel far for the things they want...again unless you bring some of that to them. And that's something to consider with your exit strategy...meaning the audience that might want to someday buy what you build. And I personally wouldn't theme the place for bikers, as they're a seasonal audience (many of which don't ride in the fall due to leaves on the roads). I also suspect that glamping wouldn't do too well. We have a glamp site down the road and it's nearly always vacant, perhaps because the region is quite full of campsites. I think I'd focus on what you mentioned above, meaning a tiny home, very unique, with things to do/enjoy on site.

You would be correct on the financial situation of Robbinsville. It’s not as big and booming as Bryson or Waynesville. It is 100% a niche market. I appreciate you sharing what you did about the glamp site because we considered that… I think right now, as long as the research we do supports it, we would do a congregation of tiny homes as we have a lot of land to work with. But start with one.

It’s tricky because I don’t wanna fit a square peg in a round hole. And also you’re right about this region being a little lousy in terms of having some rinky dink listings that people just slapped on airbnb and hoped for the best. It would seem to me that those would bring the ADR down compared to the nicer stays.

2 Votes

Western NC, North Carolina

Quote from @Blake Novotney:

I know that lots of people like myself travel that way to Deals Gap (Tail of the Dragon) also. Like you mentioned having something tailored to bikers, I think a lot of "car" people would appreciate a themed STR. Something decked out with cool car/motorcycle decor, garage or carport parking etc. Just a thought!

Thanks man, not sure I'll "theme" it towards cars and motorcycles but I would keep it neutral, not to exclude one party. My thought would be to provide the amenities that would attract them. Covered parking, place to wash cars, etc. As well as making the STR itself attractive with nice living space, hot tub, etc.

0 Votes

Western NC, North Carolina

Quote from @Gerald Pitts:

I would look into data sites like STR Insights, Pricelabs Market Dashboards, Airdna (Paid version), Rabbu, Awning. Annual Revenue is more important for investment penciling out than year round occupancy. A lot of successful markets are sustained by 6 or 8 mos out of the year.

I really appreciate this feedback. I am reading Short Term Rent, Long term wealth now but curious as to what metrics you feel are most important to look at in a market like this?

0 Votes

Western NC, North Carolina

Quote from @Mitch Davidson:

Hi @Casey Millsaps. I'm a little familiar with it, having an STR in Bryson City. I think you'd definitely want to focus on unique, and on making the property itself a destination (i.e., things to do...maybe a sauna for example). Being located between Santeetlah and Fontana is great in the warmer months. Fontana is drained from late September to May. I believe the schedule is similar for Santeetlah.

I appreciate the feedback. That is my question on it. Additionally, there are several STRs in the area. I’m just not sure if it would cash flow unless we made it just an above and beyond property that is the destination itself like you said. I like your idea of sauna, hot tub, etc.

At a quick glance on Air DNA, it’s around 60% occupancy.

I also would make it biker friendly, and add a covered bike storage. There is another place in Robbinsville like this called the 2 wheel inn. Do you mind sharing your Bryson STR link?

0 Votes

Western NC, North Carolina

Hello, I am grew up coming to western NC and have a family scattered in Robbinsville, Franklin and Asheville, also went to WCU in Cullowhee, NC so I'm pretty familiar with the territory. I have some family farm land in Robbinsville, NC that we have considered converting for STR use. Leaning towards Instagramable tiny home experiences. I know it is heavily reliant on tourism and bikers/hikers. The property is about 4-5 miles from the Stecoah Gap Appalachian Trail crossing. Robbinsville, while beautiful and quant, doesn't really have a ton of attractions other than mountains and certainly not year around. Nantahala Gorge is about 30 minutes or less.

Does anyone have experience or intel on the Robbinsville market or local regulations?

0 Votes

Western NC, North Carolina

All Forum Posts by: Casey Millsaps

Casey Millsaps has started 1 posts and replied 5 times.

Post: Robbinsville, NC Market

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