All Forum Posts by: Keith Dowdy

Yes, the hurricane did a number on the greater Boone area, and certainly the broader western North Carolina area. But the winter ski season was the best in years. Some real opportunities to buy short term or student rentals in the area that can pay for themselves. 

Reach out to me and I can help you in your search in Boone, Banner Elk, Beech Mountain, Sugar Mountain, Seven Devils and other nearby tows. 

Here's an example of a recent STR sale I helped a client find:

https://www.zillow.com/homedetails/101-Maple-Ln-Banner-Elk-N...

Hey Jimmy- I'd be happy to discuss how things are in Beech and what the short term rental market looks like. Let me know when you have a few minutes to talk. 

I just posted this listing today. A six bedroom, 4.5 bathroom house next to the golf club with long range views. House is owned by an interior designer and a contractor. They have completely remodeled the house from top to bottom. Fully furnished with high end finishes. Club membership available for a transfer fee. 

If you've been looking for a house in the mountains as an STR or a second home, this is the place for you. If you would like more information, please let me know.

https://hcar.mlsmatrix.com/matrix/shared/vq1wZGhFRs/120Clubh...

Thanks!

Keith Dowdy

eXp Realty

919-412-4144

I agree with the other posters that perhaps your expectations are a little high. But, as a realtor in the Banner Elk/ Beech Mountain area, I know that investors are doing really well here. I have two houses on Beech myself, that I rent short term and medium term. I'm finding that I'm doing well this year but I'm having to hustle more than I have in the past. I have a lot of renters coming as return guests, by word of mouth, or from Facebook, in addition to Airbnb and VRBO. I suspect most STR owners are able to have as much success as they had during the pandemic, but it takes a little more work.

I'f you'd like to learn more about the area I specialize in, please send me a message.

Good luck!

Keith

Hi- i have two STR houses in Beech Mountain, NC (in the nearby vicinity of Boone, NC). It's a ski town in the winter and a hiking, mountain biking, zip lining community in the summer. Probably condos or smaller houses in the area in the $400 k range. But I would recommend getting a good cleaner and managing yourself from where you are. Nearly all investors I work with are doing it this way.

Any questions about investing in the area, just let me know. 

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $550,000
Cash invested: $110,000

Short-term rental with long range mountain views.

What made you interested in investing in this type of deal?

I'm a short-term rental invenstor and real estate agent. This was a great deal that has done very well as a vacation rental.

How did you finance this deal?

Traditional investment loan with 20% down.

How did you add value to the deal?

Some light construction improvements, new appliances, opened up the long range views.

What was the outcome?

Still own it. Cash flowing. Large increase in appreciation.

Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

Dealt directly with the seller off market.

 Hi Michael,

Just seeing this now. I'm bullish on the area myself. I'm also a real estate agent in the area. If you are still thiking about finding a place in the area, please let me know. I can definitely help. There are a lot of condos available in the area. 

Just reach out and I'll help you out. If not, I hope you have a great experience with your 2nd home in Boone!

Keith

Hi everyone,, 

I'm bullish on the area. My rental in Beech Mountain continues to do well. I'm starting to see more movement in terms of people turning their attention to investment properties again. Beech and Banner Elk are particularly strong. Other great areas for short term rentals: Sugar Mountain, Seven Devils, Valle Crucis, Vilas, Zionville, West Jefferson, Todd, and many others. While the rates are relatively high right now, there appears to be evidence that the peak may be at hand. One possible strategy is to get in before the prices shoot up as rates start coming back down. Get in at less that desirable rates, and refi once they come down. Or sell at a profit as demand inevitably goes up, along with prices.

If anyone is interested in investing in the High Country, let me know. I'm a licensed realtor who specializes in helping investors find a good investment/STR properties.

Or just let me know if you have any questions that you think I might be able to help with. 

Have a great day!

Keith Dowdy

eXp Realty

Lic#: NC 337517

That may be, but in Beech Mountain there are more Florida license plates than NC license plates. At least half my short term renters are from Florida 

Hi all,

The worm is turning- maybe? As a real estate agent in the area of Boone/ Banner Elk/ Beech Mountain and many other towns in the area, I'm seeing listings staying on the market a little longer than before and each day I see a handful or more listings do price reductions. A couple months ago, that was unheard of. 

If you'd like to learn more about the market or would like to look for a second home/ vacation home/ STR, let me know. I can help. I have helped several STR seekers recently. One just closed and another is under contract. I've got one of my STRs on Beech Mountain on the market as a matter of fact!

I would love to help anyone who wants to explore the area for investment properties. Just let me know!

Keith Dowdy