All Forum Posts by: Ryan Warrenburg

Cody, I've heard the same thing about building costs. I don't know specifically about a log cabin, but generally I've heard you're looking in the $250/sq foot range + foundation costs, which due to the landscape up here is where things can get really expensive. That may be get you close to the $300 range that Keith was talking about. Obviously the land matters when it comes to excavation costs, but the flatter the lot the more expensive the land is. Something reasonably flat with a view is probably going to run in the $80-100k an acre.

70% occupancy is impressive given the 2 month shutdown! We are going to look at a property tomorrow, and our estimate is that we would need about 50% occupancy to break even as well. It feels like that's a high number for a break even point, but the more I hear from people maybe it's not.

@Brooke Cottrell thanks for sharing! My wife and I live in Boone and are on the hunt for a STR here in the area. The place looks great - we actually saw the listing and recognized your picture here. How has it been doing for you since covid hit? Just from being around town in Blowing Rock it seems like tourism has been holding fairly strong up here. If anything there may have been a bit of a bump. That 70% occupancy number still seems to be holding steady?

@Keith Dowdy thanks for sharing! My wife and I are on the hunt for a STR up here in the mountains as well. How has your occupancy been on those 2 properties? That is the one metric we've had a hard time nailing down as it seems to vary quite a bit property to property. I know @Adam Payne mentioned in a previous thread they were seeing about 80% occupancy for the year, but a local owner I talked to recently said they were more like 30-35%. Thanks again!

@Adam Payne that sounds like that has done really well for you all, congrats! And thanks for the feedback. That's really helpful. 

@Christopher Brown if you don't mind that would be amazing! We're just trying to pull as much data as we can right now to where we can feel more comfortable with it. We pulled the history for a cabin out in Todd the other day and it was shockingly poor. But I need to call the management company today and get some info from them. I assume the owners must use it a lot because they told us the gross for 2019 was $5,400. 

Adam, congrats on the new business! My wife and I are very interested in a STR here in the Boone / Blowing Rock area. I remember seeing some of your posts over the last couple of years. How has the rental been performing for you all? Would you be willing to share any info on the kind of occupancy you've had? We've been reaching out to a few people trying to get a better feel for occupancy numbers, that seems to be the biggest hurdle for us to get comfortable with in this process. Just based on the eyeball test and what I've heard from some local business owners it seems like things are just about as busy as ever up here despite covid-19. What kind of impact have you all seen since STR's opened back up? Thanks!

Awesome, thanks for putting that together. I should be able to make it Friday evening at 5pm. See you all there! 

@Tristin S. @Daniel Jones @Eric Nelson - a week day night would probably work better for me but its not a deal breaker.

@brookecottrell thanks for sharing! My wife and I live in Boone and are interested in a STR up here. How has it been doing for you since covid hit? Just from being around town in Blowing Rock it seems like tourism has been holding fairly strong up here.

Great to see an active High Country thread on here! My wife and I live in Boone and are new to real estate investing, although we do own a home here in Boone and would definitely be interested in meeting up as well.