Our First Season in Short-Term Rentals: Adventures in Hospitality, Hustle, and a Little Bit of Chaos
“Just get a beach house and rent it out” - they said….
Whew! It is the unofficial end of our first rental season on Topsail Island, NC, and we can tell you running a rental property is not for the faint of heart. Real life experience is truly the best teacher! What the property needs, what data to use and how to interpret it to make real-time decisions that impact our operations and business, providing a high-value guest experience, finding ways to stand-out from the pack, and balancing it all with grace were amongst the lessons learned!
Read ahead to learn how it started, how it went, and how we will switch things up next year to make it even better - we can’t wait! …..
How it Started….
If you had told me five years ago that I’d be running a coastal short-term rental, and a local one at the same time —obsessively monitoring dynamic pricing strategies at 5:00am with my morning coffee—I probably would’ve laughed. Not the direction I intended for my career or life. But here we are. And I can honestly say: what a ride.
It started long before the first guest ever rolled their suitcase across our freshly mopped floors. I will never forget it - the week of George Floyd’s murder, my sister and I checked into a beach rental property in South Carolina with our families. Pensive about the state of the world, we spent some time truly reflecting: how we spend our time, who we spend it with, how are we using our resources - and not just money, are we doing all we can to prepare our children for what’s to come, what legacy will we leave? Life has a way of doing that to us in moments like that.
We realized, we had never taken a vacation like this before, or together at all. We hadn’t invested in a way to reconnect, rest, restore ourselves, and to make memories. We didn’t grow up in a family where this type of experience was customary - what is vacation? So, as a first experience we had no expectations. What we left realizing was that it was an unbelievably restorative time. We felt refreshed, more prepared to return to our busy lives, and had made lifelong memories for our families. We also were humbled to realize that for what we invested for a one week stay could pay for an entire month’s mortgage if we owned that property. Mind blown.
Right before the real estate market ballooned during the COVID-19 pandemic, we saw an opportunity to search for a property within driving distance on the NC state coast. This property would be a place for our families to gather and make memories. A place for us to escape the rat-race and take in medicine that is undeniably the ocean, the wind, the sun. And, for 5 years, that is exactly what we did. Long weekends, weeks in the summer with friends and family, holidays, birthdays and anniversaries - all could now be spent walking the beach. We were amazed with it all, and honestly still are.
About two years ago, I dove headfirst into the world of financial literacy and wealth building. As much as I don’t like social media, I have to admit that the algorithm kept feeding me financial content that made me curious, and prompted many rabbit holes of research that ultimately lead us here. I was that person with stacks of books, podcasts running double-speed as I shuttled the kids to after school activities, and spreadsheets open at midnight - I actually LOVE a spreadsheet. I wanted to understand not just how to buy a house, but how to buy the right house —one that could generate real income that could replace my husband’s 7-to-6ish hustle, and build long-term wealth to leave a legacy for our children. Once I heard an author present the concept of financial freedom and being FREE to spend your time as you wish, as a result of investing in real estate, I couldn’t unhear it. Getting off the hamster wheel of life - work to pay bills, to then spend that money, to then work more to pay more bills and buy more things - was never even an option until what I was reading shifted my entire mindset. Invest, let investments grow, buy more investments, they keep growing, until they grow enough to cover your expenses. Then you are FREE!
This book is very cute. But unlikely to be read.
Why? Who sits still long enough to READ books anymore, or is it just me? Keeping audiobooks on repeat while I drive, cook, fold laundry, and walk the dog keeps my mind engaged and my day moving while I learn and implement!
Here a few favorites that got us locked-in on wealth-building and real estate:
Rich Dad, Poor Dad | Cash Flow Quadrant | Small and Mighty Real Estate Investor | Short-Term Rental, Long-Term Wealth | First, Break all the Rules | Who, Not How | Trash Man to Cash Man
Finding the Property
Once I had the “why,” it was time to figure out the “what.” We didn’t even consider the Topsail Beach property at first, we began to look locally. That meant teaming up with my real estate agent to crunch numbers like an investment analyst. This woman’s prowess is unmatched and she gets most of the credit for building the confidence in us to take the leap - because it really feels like jumping OFF a cliff. (DM me for her info, she is everything!)
We decided we would purchase a property in Durham, NC so that we could be close to our first go at property management. After analyzing purchase price/mortgage vs. projected nightly rate, estimated occupancy, potential return on investment, and operating costs to make educated projections about what we could expect - we were ready! So naturally, it didn’t make sense to have our beach property not working for us too. We found it sitting empty most of each month as the kids had more commitments and life got busier - so it made sense to launch the beach property at the same time. We had to detach our personal connection with the space and now see it as an investment and asset.
Buying a property for short-term rental is like picking a character in a video game—you’ve got to consider its strengths (location, amenities, guest appeal) and its weaknesses (upkeep, competition, seasonality). Since we were entering two different markets at the same time (because we never do things the easy way), we had to do this times two, and learn each market’s nuances and trends. We launched the rental listing for the Topsail property in November, 2024 and closed on the Durham property one month later. Were we fully convinced this was going to work? ….that we wouldn’t be carrying two mortgages that wouldn’t be covered? NOPE! But we saw receipts from others around us and had to have faith.
North Topsail Beach, NC rental property
Little did we know, we purchased a home in a historic community that couldn’t be more special. A town situated on the U.S. civil rights trail, with a history that makes every homeowner proud and committed to its essence, Ocean City is truly a NC Coast gem.
From Closing to Hosting: Operations Bootcamp
Here’s the part they don’t tell you on HGTV: the real work starts after closing.
Implementation & Operations: Setting up utilities, interior design plans (that actually is really fun!), furniture deliveries and assembly, stocking every cabinet with enough wine glasses and coffee mugs for a family reunion.
Automation: Crafting guest messaging that feels warm and personal, while secretly scheduled by software at 3 a.m. Identifying competitors, picking your price (hello confidence!), and programming price adjustment profiles throughout the year.
Guest Experience: Thinking through every detail—from towel hooks by the hot tub to bedside phone chargers—that makes people say, “Wow, they thought of everything.”
It wasn’t just about creating a place to sleep. It was about creating a luxury experience that would set us apart, attract more bookings to cover our expenses, and creating a space to make unforgettable memories while giving back to our community.
First Bookings & Real Guests
Nothing makes your mouth drop like that first booking notification. Then comes the realization: “Oh no, real people are coming to stay in my house.” We launched the listing in November, and it wasn’t until hours after New Year’s Eve turned day that we saw that magical Airbnb notification: “You’re booked!”. Our heart still goes pitter patter when those come through - it never gets old to know they chose you out of the pack.
Managing guests in real-time meant mastering:
Fast, friendly communication - your ranking and search visibility actually depend on it
Troubleshooting random surprises (yes, even the thermostat battles)
Keeping calm when things don’t go perfectly - and let’s be honest, showing people you are prepared and able to address it isn’t always enough. Some folks you just won’t be able to please - this we learned the hard way.
The cool part? With messaging templates, automations, and systems in place, what used to take an hour became a few clicks. Guests felt cared for, and we could still enjoy our own lives.
Shout-out to all the guests that didn’t make it harder for us, but really went the extra mile to help us as owners and hosts; caring for the home, communicating things that needed to be fixed or improved, without judgement but with a helpful spirit, and those that will return because they truly connected with us as hosts, the home, or the experience. You are our VIPs, and we ultimately hope to fill the calendar with gems like you! You are invaluable to our story and we thank you.
The primary suite sits on the 4th and top floor, with sweeping ocean views for the sunrise and beautiful sunsets out back.
Data, Pricing & The Back-End Hustle
Behind the scenes, short-term rentals are basically one big game of numbers. Enter my new best friends:
PriceLabs: Dynamic pricing that adjusts nightly rates based on demand, competition, and seasonality.
Airbnb Dashboard: A goldmine of data—conversion rates, user reviews, number of listing views —that all tell you if you’re thriving or tanking.
Ongoing Analysis: Constantly tweaking amenities, pricing, updating photos, or running promotions to stay competitive.
Pricelabs dashboard for the Topsail rental market
This is the part of the business that feels the most like playing chess. One move can shift your visibility in the algorithm—and visibility means bookings, and your volume of bookings is the difference between barely covering your mortgage or cash-flowing with profit. Which is also why buying wisely to start becomes so important!
Why It Was Worth It
Was it work? Absolutely. Did I lose some sleep over bookings, leaking ceilings (from guests that run the air AT 54 DEGREES WITH WINDOWS AND DOORS OPEN ….I am not traumatized!), or surprise expenses? Of course. But here’s the thing: short-term rentals are more than hospitality—they’re a wealth-building tool. There is the immediate return from operations, but the real flex is how you use the asset to leverage equity, appreciation, tax codes and other qualifications to really get ahead! Once you see those dividends, it is time to purchase the next property, rinse and repeat! Those are the building blocks to becoming financially free.
One season in, I’ve learned that taking the risk was worth it. Hosting turned out to be rewarding, the numbers work, the systems work - and probably 3 times more than we expected!
So, if you’ve been on the fence about diving into the short-term rental world—consider this your nudge. What an amazing way to build wealth, create experiences, and maybe have some adventures (and misadventures) along the way. If you want to work with us, we are here to help - reach out and let’s grab a coffee so we can geek-out over numbers and spreadsheets! And design, and our families, and lifestyle, and all the things.
What will we do differently
First, middle and last: AC on LOCK DOWN. Door sensors that shut off the air conditioning when doors are left open - numero uno! Next, thermostats that lock in a temperature range. These two additions will prevent guests from abusing the privilege and killing the system and potentially damaging the home enough to have to cancel future bookings. We went into this adventure wholeheartedly believing that people would do the right thing and honor our requests for the home and their stay, but this season proved us wrong. It’s little things (that can turn into big things) like this that you can’t anticipate until you experience it or learn it from those who have.
Pricing: we realized we underpriced ourselves, largely because it was our first season learning the ropes. Getting bookings and 5 star reviews was the priority. Along the way, we realized we are our only competition, launched ourselves to the top of the search algorithms in both markets, and that is a great place to live (cue “Dirt off your shoulder” - Jay Z). Now that we have that under our belts, we can focus on maximizing what we have created and improving the guest experience.
Amenities: We recently added a hot tub, a must at a coastal rental. We will continue to look for ways to add more amenities that allow returning guests to experience new and better stays!
sunset view from the back deck of the top-notch in NC Topsail Island, NC rental property
