In search of a STR regulation friendly market

[Michael Uvaydov]

Hello All,

Currently I have been investing in LTR and unfortunately cannot take advantage of REP status due to maintaining a full time W2 job.

I leave a lot of funds on the table for the tax man and being able to benefit from the STR "loophole" to offset my w2taxable income would supercharge my RE investments

My fear with STR is if I buy a property only to find the STR licensing process is essentially going to lead to a denial.

Can my fellow investors point me in the right direction as to decent STR markets for a beginner in this strategy? And any recommendations to agents that can assist? Preferably in areas that are a 3-4 hour drive from NYC.

Thank you and happy holidays. 

[Michael Lipari]

Consider the Catskills market. You can get year round demand. People enjoy going there in the summer for hiking, mountain biking, fishing. During the fall the main attractions are local farms and leaf peeping. During the winter there are some major regional ski mountains, Hunter, Windham, Bellaire, Plattekill that attract a lot of guests. Right not I'm getting a lot of interest and bookings whereas other areas are dead until next summer.