Door county short term rental
Looking to invest or co-host I’m door county Wisconsin. Anyone have any advise.
@Buddie J Houser I'd love to help out. I just pm'd you!
Numbers look great in Door County. I used to go out there as a kid and it's a really nice area. I'd love to hear about someone's experience doing an STR out there.
I just closed on my first property in Door County back in June and so far everything has been going great! We were worried with the timing of the closing and missing out on the peak season, but bookings started rolling in pretty quick and we should finish the summer pretty much right at our projections for July/August despite the late start.
The biggest challenge was finding a property. Not much goes on the market and like many places we were competing with many other offers. Ultimately our realtor found us a place off market.
My advice is to run your numbers and determine what you’re looking for in a property. Get qualified with a lender so you know what you’re working with. Then go to work looking for that property and be patient as it might take awhile.
If you have specific questions let me know.
Make sure to check out the regulations. I remember Door County being super regulated when I was an analyst for STR Buyers.
Quote from @William Beck:This is a great point, and some of the villages are still evolving, so definitely do your homework and make sure the regulations in place work for what you’re trying to do. Sevastopol in particular is a place we ended up staying away from due to their regulations.
Make sure to check out the regulations. I remember Door County being super regulated when I was an analyst for STR Buyers.
Quote from @William Beck:Buddie,
Make sure to check out the regulations. I remember Door County being super regulated when I was an analyst for STR Buyers.
William is right. In fact, it is very important you look at the relevant regulations first, as they could significantly alter your business plans. For example, Sevastopol passed an ordinance that restricts stay durations, effectively prohibiting short-stay, high turnover properties. Other municipalities also passed new str ordinances recently.
feel free to reach out if you have specific questions. Good luck!
@Kenneth Rolfe Thanks for the update. It seems to be a great area. We are specifically looking around in Sturgeon Bay. I’ll keep you updated how things go!
@William Beck That is a good point. Thanks! I have looked at Sturgeon Bay and it doesn’t seem like anything extreme here so far, other than your standard permits.
@Kenneth Rolfe can you recommend a realtor in Door County who understands STRs and is good with remote buyers?