I want to research short-term rental (STR) opportunities in Snoqualmie Pass here just outside of Seattle. Does anyone have experience with this method, within this region?
Specifically, I'm looking to see whether anyone has an agent that is specialized in these two areas.
Much appreciated. @DaveBebb.
PM'd you some contact infor
When you say, "Snoqualmie Pass here just outside of Seattle. Does anyone have experience with this method, within this region?" are you asking for the specific region of Snoqualmie Pass? Maybe the County?
I have done (owned) vacation rentals in Snohomish (city), Index and Edmonds.
I've been interested in buying property in Cle Elum and would probably do some sort of vacation rental. I've stayed in vacation rentals in that area.
What are the questions your looking to have answered?
@Zach Schwarzmiller I'm thinking of the area immediately surrounding Snoqualmie Pass ski area, or Alpentaal. @Troy Fisher was very helpful with providing a good contact and I had a 30-minute conversation with the person.
Zach, how have the Snohomish, Index, and Edmonds STRs worked for you? Are you pursuing additional ones?
They have all been good. I would not say I am pursuing additional ones; however, I am not opposed to properties which can work as both vacation rental and long-term rental. I do vacation rental because right now the market supports them very well and they are turning good cash-flow. In the end, I prefer the long-term rental route with a good tenant though and over time when I start traveling for extended periods again, I will likely shift them back to long-term.
I personally, would not purchase a property for the sole purpose of being a vacation rental - it's just not part of my investment strategy though, I have met people who do quite well with that model.
They give me problems every now and then, just like my long-term rentals. The long-term rentals just generally speaking have less problems overall as it's less wear and tear on the units. I had someone smoke inside a unit, that kind of really sucked to clear out. I had two people come after who both hated the smell and I gave them full refunds and let them stay there so it didn't kill my ratings I had - it's very much so a business of customer service. There are companies out there that manage the whole process for you, which I am considering, though until now, I have really wanted the understand all aspects of the vacation rental myself. I don't hire property managers for my longer-term rentals as I don't see the value; however, I could definitely see the vale in a good vacation rental property manager!
Since you mentioned Snoqualmie.....my only experience in the area was one of the most fun days of my life, at the Dirtfish rally car driving school. I know they partner with some local hotels to bring guests in, and those hotels are super expensive. Might be worth chatting with the great folks at Dirtfish if they would be willing to promote your vacation rental or even package it, they have wealthy clients coming from out of town regularly, and the local hotels are very expensive....any vacation rentals close by would probably make excellent options.