Need help finding STR investment property and region

[Hanah Choi]

Hello, I'm exploring short-term rental (STR) investment opportunities within a maximum 4-hour travel distance from NYC. Navigating STR regulations can be challenging, and I'm considering potential locations in Vermont, Rhode Island, and upstate New York, specifically around Syracuse or the Jay area. Could you provide any insights or recommend a realtor specializing in STR investments in these regions? Your advice will be greatly appreciated as I aim to identify the most viable areas for investment. Thank you!

[Stephen Schmitt]

Jonathan is right about making sure you have a strategy, and Syracuse is not considered a vacation destination for sure. However some of my best months are in the winter; we have visiting families for SU students, a ton of traveling nurses, and we are about to have the biggest chip manufacturing plant in the country. Look up Micron Technologies, it’s a huge $100 billion project. Mostly I get guests who are visiting family, businesspeople who need a longer term stay, and now I am hosting guests involved with suppliers who are scouting the area. I would consider Syracuse for investment but not if you’re looking for a place for vacations.

I would speak to someone from the area before dismissing it. Our prices are steadily (or actually rapidly) climbing, but still not anywhere near NYC or surrounding area prices.  If Syracuse is still a part of your strategy, let me know!