Real Estate Agent · Abilene, TX · Member since 2019 · 223 posts · 88 votes
If you could only pick one type of location to invest in STR's for the rest of your investing career, which type of location would it be? Near the mountains(Like Gatlinburg), near the beach(Like Destin), or in a city(Like Vegas) and why?
*Doesn't have to be the locations I used as an example just wanted to give an example!
Investor · Greer, SC · Member since 2014 · 13k+ posts · 17k+ votes
3y
Beach, Lake or Mountain.
Drivable markets.
Places you would go on vacation with your family.
Vegas might be a good market but not were I would personally invest. If you live close by then it would be worth running the numbers to determine feasibility.
Real Estate Agent · Emerald Coast, FL · Member since 2016 · 820 posts · 486 votes
3y
I'm a beach girl, born and raised, and now I sell STRs on Florida's Emerald Coast where I own 4 of them. People love our beautiful beaches, and they keep investing here.
I'm happy to answer specific questions for you. PM me or use the link below to book a call. : )
Investor · Cincinnati/Fort Thomas, KY · Member since 2015 · 207 posts · 183 votes
3y
@Bobby Paquette I have a local drive to/mountain type STR and a beach STR in one of the most expensive zip codes in the US. I like the drive able mountain STR. My beach STR high season is Christmas to Easter. Just an hour north, the beach high season is June-July. The driveable mountain STR has lower entry
costs, no STR regulations and generates more income than my beach STR. My beach STR appreciation is astronomical-a couple hundred thousands but mountain STR is up about $125000 and that is slightly more than 50% of what I purchased it at AND my rural mountain guests are way more chill than beach guests in terms of expectations. They just want to hike and rock climb and get in a hot tub and sit by a fire. Bonus if you can get a ski location. Lakes further north seem to just book during boating season. Hiking and rock climbing are longer seasons.
Beach is the absolute worst investment right now, flooding will be a super paramount risk in the future.
Every beach? How far in the future?
Mock it all you want. But you will see for yourself.
Not mocking, serious question, and I mean no disrespect. Just trying to keep things real and not so speculative and hyperbolic.
You know it can't be every beach in the country so I want to know which beaches in particular are going to be flooding anytime soon. In your opinion....
And when is important....if it is the next 10 - 20 years then that will affect my personal investing decisions. If it is 50 - 100 years off, then not so much, except as to how it will affect possible value for my heirs. If it is 1000 years down the road, then I don't care.
The climate changes constantly and it is important to realize that although it can and maybe should influence our investing, we must factor in the knowledge that the alleged 'experts' can be and often are very wrong...
So once again, simple question.........Every beach? How far in the future?
Definitely next 10-20 years. Think Gulf Coast is going to be the most terrible to invest in, west going east-- secondary anything in the mid ridge line of the atlantic(think outerbanks to north florida). It's a shame cause it's my favorite areas.
But with how weather patterns are coming in, these areas are going to face sea levels rising quicker than the norm, extreme heat droughts and later hurricane seasons. All those are in contagion; the rise, the heat and what it attracts. Gulf Coast like Galveston to gulf shores is going to be the most susceptible.
Thank you for the answer! While I do not particularly agree with all of your points, I do think we all should spend our dollars based on what we see as likely to happen. And if I were you, I would stay the heck away from the water, especially in those areas. Given your sense of doom regarding the planet, it makes no sense to think we will ever recover and you may want to buy based on your concept of where the new shores will be established for the next 100 years...? Seriously. If you're right, it could be your gold mine...
Right, sense of doom for the planet. Yet mention two coastlines....go figure. Way to put things in context, I digress and will heed your wise words of wisdom given your incredibly successful portfolio and history in everything--investments, real estate, weather patterns, etc.
Given I was right twice with storms creating a generational amount of wealth of for family, you're right it may be goldmine. Fortunately, I've already found mine. And just adding to it...but again, doom for the planet and muppet talk is the way to take this.
Ok, I guess we're done. I was trying to be polite and at least somewhat serious and get met with snarkiness. Typical for the climate crowd. Hence why we will never meet in the middle and figure things out....
Says the person that went ahead and claimed my views were "doom for the planet". But pretends to act sincere. Go figure, take a hike brother there's nothing to come together about. You have an agenda, and will sit in your emotions over facts. I just put my two cents and an opinion, there's no absolutes and there's never certainty-- it's just feedback. You took those and tried to exaggerate them with "doom for the planet" and other nonsense like it could be your "goldmine". Rather than providing an opposing view and truly coming together. If I couldn't sense an agenda any clearer.
And it's funny you say it could be my goldmine-- I've bet on weather twice my life. Both times they were my goldmine, how ironic right? To think you can mock it and be cute. Little do you know...
If you could only pick one type of location to invest in STR's for the rest of your investing career, which type of location would it be? Near the mountains(Like Gatlinburg), near the beach(Like Destin), or in a city(Like Vegas) and why?
*Doesn't have to be the locations I used as an example just wanted to give an example!
WE own in Destin as well as the Smokys as well as in city Huntsville AL. If I could only own in one location it would be the Smoky Mountains. We are the Vegas of the East Coast. Honeymooners travel here year round. Plus small family weekend trips, family shopping trips, et. This location has year over year been more profitable.
What do you guys consider the 'Smoky Mountains' ? Boundary wise....?
For us it includes of course Gatlinburg, Pigeon Forge, Wears Valley, Townsend, Kodak, Sevierville BUT also Tellico Plains, Coker Creek. There are so many hidden jems that allow for awesome Biker and Honeymoon stays. Such beautiful hiking trails, water falls, etc. For rentals Guests are looking for new and exciting things to do.
you own in some prime locations @Ruth Blue. All places I would love to go but never have. All great estimations. Is the AL property STR also?
WE gave it a try STR in Huntsville, AL but ended up having TDY visitors mostly who wanted 3 to 6 months so we ended up just letting our PM there take over and she found us Great Long term rentals.
If you could only pick one type of location to invest in STR's for the rest of your investing career, which type of location would it be? Near the mountains(Like Gatlinburg), near the beach(Like Destin), or in a city(Like Vegas) and why?
*Doesn't have to be the locations I used as an example just wanted to give an example!
WE own in Destin as well as the Smokys as well as in city Huntsville AL. If I could only own in one location it would be the Smoky Mountains. We are the Vegas of the East Coast. Honeymooners travel here year round. Plus small family weekend trips, family shopping trips, et. This location has year over year been more profitable.
Awesome! Glad to hear it from someone who has a place in all areas!!
Investor · Cabo San Lucas, Mexico · Member since 2023 · 150 posts · 139 votes
3y
I always like 52 week destinations over seasonal ones. Certain beach destinations (non east coast markets) truly do not have ¨slow seasons¨ vs a ski locale for example. Unfortunately when you remove California from the equation because of their regulatory environment you are not left with as many markets. So short answer is beach depending on the local regulation.
This pushed me to Mexico where there is true 52 week demand from international tourism but also an incredibly lax regulatory environment. There are of course additional headaches that come from investing out of country but those have been mitigated in the lasts ten years through more foreign investment friendly regulation.