AirBNB Property Investment in Poconos PA

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AirBNB Property Investment in Poconos PA

Amit Desai
Member since 2020 · 56 posts · 22 votes

Hi, 

I am new to this forum as well as platform, also a new real estate investor. I have researched everywhere on rental or Airbnb property and found out that both are equally lucrative. However, I feel Airbnb looks promising because I also would like to have own place where I can go and relax whenever I would like to with my family. Poconos is the good place to start with and near to me as well. 

Can any one please help me to understand market of Airbnb in Poconos along with property.

This step will be for passive income for me as I do have full time job so for now want to start with only 1 property.

Any advice/input/comments appreciated!

Looking forward to all responses.

Thanks

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John UnderwoodPro Member
Investor · Greer, SC · Member since 2014 · 13k+ posts · 17k+ votes
6y

Neither property type is 100% passive. A STR is less passive than a LTR. You have weekly or sometimes multiple turnovers in a week. You have guest interactions during the week.

You can easily self manage and have a full time job, just understand it is not completely hands off.

You should check and see what the peak season is there. Look at occupancy and nightly rates of your competition on vrbo and airbnb to see how well the numbers could work for you.

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  • Account Closed
    Rental Property Investor · Escondido, CA · Member since 2018 · 268 posts · 137 votes
    6y

    @Amit Desai, there is a whole forum on Short term rentals. If you go under browse forums > Real Estate Strategies > Short Term and Vacation Rentals.

    0Reply
  • Account Closed
    Rental Property Investor · Escondido, CA · Member since 2018 · 268 posts · 137 votes
    6y

    @Amit Desai, the best thing to do though would be to start to read some of the threads there before posting a question. There's a lot of great people there, but the same questions get asked a lot, so you can do a ton of learning to start just by reading, and then start filling in the gaps.

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  • Account Closed
    Rental Property Investor · Escondido, CA · Member since 2018 · 268 posts · 137 votes
    6y

    @Amit Desai, one last thought: you mention that rentals (I guess you mean long term) and Short term rentals are equally lucrative. From a cash flow perspective, the goal of STRs is to have much higher cash flow; however, they are more involved and take a totally different approach and skills to learn.

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  • John UnderwoodPro Member
    Investor · Greer, SC · Member since 2014 · 13k+ posts · 17k+ votes
    6y

    Neither property type is 100% passive. A STR is less passive than a LTR. You have weekly or sometimes multiple turnovers in a week. You have guest interactions during the week.

    You can easily self manage and have a full time job, just understand it is not completely hands off.

    You should check and see what the peak season is there. Look at occupancy and nightly rates of your competition on vrbo and airbnb to see how well the numbers could work for you.

    1Reply
  • Amit Desai
    OP
    Member since 2020 · 56 posts · 22 votes
    6y

    Hi,

    Thank you for your guidance really appreciate it.

    I will look into the forum you mentioned.

    Thanks

    0Reply
  • Amit Desai
    OP
    Member since 2020 · 56 posts · 22 votes
    6y

    Hi,

    Thank you John for your advice.

    Thanks

    0Reply
  • Louis Zameryka
    New York, NY · Member since 2020 · 105 posts · 49 votes
    6y

    Hi Amit, 

    I am looking to do the same thing. Maybe we can chat and compare notes. There are many homes there and demand is good so you and I can probably do better sharing our thoughts than worrying about competing. I am also a first timer. 

    0Reply
  • Amit Desai
    OP
    Member since 2020 · 56 posts · 22 votes
    6y

    Sure Louis More than happy to talk.

    Thanks

    0Reply
  • Angelo Forzano
    Member since 2020 · 54 posts · 30 votes
    6y

    hi. just some thoughts on AIRBNB  The Air bnb market can be  super lucrative  or just OK  it depends on how much effort you want to put in.  I was able to.pick up a beach side SF a year after Sandy hit and started renting it out 18 months later after a refresh.  6 years ago Airbnb was not the PowerHouse it is now so I was using local websites with real simple interfaces that basically put you in touch with the prospective renter with one email I still use the site I think I pay $90 a year pretty straightforward I only offer 7-Day rentals starting 2 pm Saturday and ending the following Saturday at 9 am. This formula has worked great I rent out seven  to 8 weeks and I keep a couple of weeks for me and my family that's basically July and August rentals and I get to use it the rest of the year and in the winter I winterize. the cleaning service has 5 hours t come in and clean.. The situation with Airbnb is quite different . Airbnb is definitely a younger audience that is used to move in and out of places very short term and very quickly.  when I started to post on Abnb I quickly learned Airbnb customers expect fully furnished apartments ready to go at literally 1 and 2 days notice now the problem is you have to clean these rentals when these people leave and give them clean sheets something I have never done before..my renters bring there own..however the Airbnb customers are little bit different. not only will.they will pay more  they'll pay a lot more for short-term rentals however are you equipped to clean an apartment in 2 days notice ? I was not so I have not been successful with Airbnb yet because I'm 90 minutes away from the property and like you I work. something to think about.  Last,  Airbnb has a lot of checks and measures to protect the landlord. Good luck

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  • Sofia Sharkey
    Property Manager · Kansas City, MO · Member since 2018 · 280 posts · 221 votes
    6y

    @Amit Desai short term rentals can yield significantly higher returns vs long term rentals but it depends on property purchase price, how much you spend on furnishings, your market, your pricing. There are homes that are better off as long term rentals. They make would make almost the same for a lot less work. One unit will be fine to manage with a full time job, you can probably just hire out the cleaning. After a few properties, it’s very hands on.

    Definitely check out the forums and there is also a ton of info online: blogs and YouTube. Check out the vacation rental machine or success str stories podcast. Lots of great info!

    Good luck!

    1Reply
  • Amit Desai
    OP
    Member since 2020 · 56 posts · 22 votes
    6y

    Thank you Sofia for your inputs.  Appreciate it!

    0Reply
  • James Antony
    Member since 2020 · 4 posts · 0 votes
    5y

    Hi Amit, I've been looking to buy a STR in the poconos as well, the main challenge i see is the STR ordinance issued by towns in the Monroe county. Basically, for the non owner occupied STR's, you need to have a local person in charge living within 15 miles of the property. Any idea how other STR owners are handling this requirement?

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