Best markets to do 100k in rev

[Cody Dastrup]

Hey everyone! 

I just secured my 2nd STR and in May entered year 2 of my STR journey. The 2 properties combined should do about 95k in rev next year on about 3.7k in monthly payments ($370k and $260k purchase prices respectively)

I’m wanting to challenge myself a bit on my next purchase and look at something that can do $100k in annual rev.

My question: Are there any markets where properties are sub $800k and doing $100k in annual revenue? 

[Scott Yesner]

@Cody Dastrup the Poconos Mountains area has some great options at that price point and which should surpass $100k revenue. I have a bunch up there that are doing very well. 

[Robert Finn]

You can still acquire a pool property here in San Antonio TX, under 300k. Revenues are roughly in the 80k+ range, most likely higher as we summers are extremely hot! Demand has historically been high for travel with the theme parks, weekly military basic training graduations, medical district, and historic downtown draw (Alamo, Riverwalk, etc).

[Cody Dastrup]

Quote from @Robert Finn:

You can still acquire a pool property here in San Antonio TX, under 300k. Revenues are roughly in the 80k+ range, most likely higher as we summers are extremely hot! Demand has historically been high for travel with the theme parks, weekly military basic training graduations, medical district, and historic downtown draw (Alamo, Riverwalk, etc).

@Robert Finn I never would have thought about SA as a STR market. I work a lot in Texas and my wife is from Houston and so I've always naturally gravitated toward Tx. Would love to get more info on a high-level, if you have some areas that you'd suggest. I will dm you!

[Lucie Tighe]

Tampa, FL is a great market. 4-bedroom house in Southwest Tampa with average occupancy between 55-72% can get you 80-102k.

[Wale Lawal]

@Cody Dastrup

Houston, TX is a great option.

The income growth is steady as well as the appreciation.

Get in touch with local agents and investors to understand the market better.

Good luck!

[Ashlee Hutson]

@Cody Dastrup

You can acquire a beach house in the Galveston area and do 100K in revenue, especially if you are canal or waterfront-which is possible for less than $800k. I have two beach houses that are on dry lots that do well. Feel free to reach out if you have any questions.  

[Kristina Kuba]

$600k house in Tampa proper that sleeps 12-14 will typically gross $100k plus. Also, much lower property tax if comparing to another southern state such as TX where is is 2.8% per year of assessed value

[Brian G.]

@Robert Finn do you own/operate STRs in San Antonio?

[Robert Finn]

@Brian G. I own and operate 3 STR's in San Antonio and 1 in Marco Island Florida.

[John-Charles Bautista]

@Robert Finn

Thanks for sharing this information. These STRs in San Antonio that produce 80k+, how big are these houses? 2000+sqft and 3+ bedrooms?

[Robert Finn]

@John-Charles Bautista 3/4 bedroom, 2/3 bathrooms, 1800+ sqft, and must have a pool. Preferably heated and or salt water. Location is also a factor of course :) 

[Raven Lawrence]

I second San Antonio! Let me know if you're looking for properties that's my speciality. I work 100% with investors in the SA market.

[Paiton Patterson]

I'm seeing great opportunities in and around Chattanooga, TN!