Summer in Ludlow?

Question

I am new to investing and we are thinking about a STR in Ludlow, VT. I’m a little concerned about off season rentals. Does anybody invest in his market and if so what is the spring and summer like?

Adrian Clapp · Answer

I have found there to be a real shortage of long-term rentals in Ludlow and the surrounding area.  It would be great if your rental could also work financially as a long-term rental if the STR market changes.  Or perhaps medium-term rentals in the off-season?

Megan OConnor · Answer

Thank you!

Megan OConnor · Answer

Thank you for this, it’s reassuring. I’ll see how the numbers work with very little off season occupancy and see what the mid term rental potential is during these months. It just might work.

Michael Baum · Answer

Hey @Megan OConnor, I can't comment on the area specifically but it is doable.

You need to search AirBNB and VRBO to get a look at the competition (don't forget to look at VRBO)

You have to work into your plans the downturn during the off season.

Our occupancy during our off season is near zero. We knew that would be the case and planned accordingly.

Garrett Brown · Answer

A lot of the top places have seasonality issues so don't let it scare you. STRs need to be viewed from a 365 day lens so if the numbers work well then, you still can be successful. Use AirDNA to get a better feel for what may be projected and then dive into Airbnb and compare to your competitors. Just make sure you are saving towards those slow months during the peak months, buy a deal at the right price (don't overpay just because its a turnkey STR or you think it will make more money than projected), and look into ways to increase bookings during those slow months with some marketing and operation tweaks.

Summer in Ludlow?

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