Vancouver , Bc · Member since 2017 · 73 posts · 13 votes
Does anyone know of a city that attracts tourist and visitors in all 4 seasons. I'm looking to invest in an airbnb property. Currently have 3 in AZ but the summers are low season and bookings drop off significantly.
Thank you
Skiing and the like during the winter, water skiing during the summer.
Great place for a 90% LTV "Second Home."
All you have to do for it to be a legit "Second Home" and not an investment property is PROMISE to go there for skiing or water skiing once a year. Think you can handle that horrid burden?
I would think you could get year-round rentals in cities such as Atlanta, Cincinnati, Nashville, or Dallas, where there are a lot of conventions and business travel, but also they are fun destinations for families and bachelorette weekends, etc. Any city where the winters are not horrible, and housing costs are reasonable.
"however, is there anywhere you can think of that people DON'T want to live, but where vacationing is prominent?" @Kevin Fox I would argue that there are definitely areas where the desire to live full-time is lower, and short-term rent is higher. Areas north and south of Palm Springs definitely qualify, as does much of the Joshua Tree area. The rental demand far outstrips the demand for people looking to reside there permanently, which can in some situations create unusually high returns.
I agree with @Lee Ripma, Mammoth is an incredible STR location year-round. @Julie McCoy@Akash Y., Most people say the ski towns demand drops off significantly in the summer, but in Mammoth we have the added bonus of being very close to Yosemite National Park (and on the way between Death Valley and Yosemite, for people touring multiple parks!). We stay slammed with mostly foreign visitors to Yosemite all summer long. We actually grossed as much in July as we did in December this year.
@Shelby Pracht that's fantastic! It's so beautiful up there - I love the 395 corridor, and Yosemite is one of my favorite places. I actually have never been to Mammoth proper, but I will have to change that...
If you don't mind my asking, what kind of rental do you have? SFH, MFH or condo, how many can you accommodate? Are you very close to the slopes?
@Julie McCoy In Mammoth you're only allowed to rent condos nightly. I have a small one bedroom condo that sleeps four and we gross an average of 4K/month. It's about a mile and a half from the closest lift but on a free shuttle route. You should definitely come up and spend some time here! The hiking/fishing/camping/climbing/mountain biking are all amazing in the summer!
Thanks @Shelby Pracht! I definitely will - as soon as I can scrape together some free time. O.O I'm about to make an offer on my first STR, AND about to re-start my full time job so I suspect it'll be a little while. :) And if this first venture goes well, I'll almost certainly be looking to expand...
@Julie McCoy In Mammoth you're only allowed to rent condos nightly. I have a small one bedroom condo that sleeps four and we gross an average of 4K/month. It's about a mile and a half from the closest lift but on a free shuttle route. You should definitely come up and spend some time here! The hiking/fishing/camping/climbing/mountain biking are all amazing in the summer!
I hear mixed reviewers here. Las Vegas definitely has tourism year around so the demand is definitely there but the supply is also here. More hotel rooms than any other major metropolitan area. Gotta compete with those room rates but during busy season you can make a nice spread.
Investor and realtor here in Arizona. If your not wanting to buy anything else in AZ, I would recommend San Diego and Kissimmee, FL. My brother owns some rental homes near Disneyworld and they have been having success. The market there is still undervalued as well and you can gain some equity after a few years.
Our duplex STR in Mission Beach (San Diego both units are small 2/1) are rented virtually all year but the rents fluctuate from low season of $130/day to high of $350/day. But with the price adjustment we have close to year round bookings and when not booked someone in family at least makes use of the parking spots for easy access to the beach.
I second Kissimmee. I live here and have two listings. Demand is basically year round. You can check out year to date Airbnb demand analytics for free on Airdna. Just sign up for a free account.
Furthermore, you can find pretty good deals. Ex: A nice 3b3b condo in a gated neighborhood close to the parks for 150k.
I second Kissimmee. I live here and have two listings. Demand is basically year round. You can check out year to date Airbnb demand analytics for free on Airdna. Just sign up for a free account.
Furthermore, you can find pretty good deals. Ex: A nice 3b3b condo in a gated neighborhood close to the parks for 150k.
Best,
-Alex
I've looked into Kissimmee and occupancy rates look good. Close to DW but I'm noticing a lowe nightly rate for 4 bedroom houses that sleep 16 people than say my 2 bedroom condos in AZ that sleeps 6 and costs 150k.
Purchase prices in Kissimmee are really good so I just might take the plunge and purchase a 4 bedroom home with a pool.
Seems like occupancy rates are really high which I like it just the lower nitrates which I am currently looking into.
Does Air DNA help me analyze the properties nightly rates. I have a free account, should I purchase a report for Kissimmee
Alex are you a realtor. Can I send you a colleague request?
In terms of a house vs a condo as a STR investment in Kissimmee, it's just my opinion, but you would probably be better served with a 3b3b condo or something similar unless the house is a really good deal. Keep in mind, you want to be as close to Disney as possible, and as far as I can tell, the houses close to Disney are over market value.
In terms of the occupancy of each, my instinct tells me that the 3b3b condos are going to be booked more frequently due to small families and groups being more common than the bigger groups.
In terms of the Airdna report, yes, it looks like the full report will give you revenue and booking numbers, among other numbers. I personally haven't bought it, but if you're seriously looking to make an investment, it's probably worth the money.
Yes, I'm a realtor and of course you can send me a colleague request. I would love to help.
I've been wondering about this too. Right now I own in Big Bear which has been year round (225 nights a year) but looking to diversify and trying to find something in the LA area (2-2.5 hour drive radius) for under $350k. I always come back to Big Bear but now may look into Joshua Tree as well.
We own a VR in the pocono mountains in PA and it does well year round - our peak seasons are ski season (Christmas-March) and summer lake season (Memorial Day-Labor Day) but we also do very well with the off peak fall weekends and spring weekends.
We are looking to pick up a few more VR's in areas that we want to visit personally with our family. Thats the goal in the next few years. I am also looking for suggestions for places that have good cash flow and rent year round.
Our short term furnished rental property is in an area that has a major medical and research facility. Rather than rent to 'vacationers' we rent to patients who come from vast distances and stay anywhere from a week to a couple of months for a transplant procedure or cancer treatments. We have also had visiting doctors or fellowes. We have had more than 85% occupancy in the two years we have had it and have only needed to list on VRBO. Just another place to look for an investment rather than tourist areas. The bonus is the families who come are so thankful to have somewhere to stay other than a hospital or a hotel and usually take very good care of the property.
Hello @Jami Stufflebeam that sounds very interesting and I would like to learn more about what you have shared. Where do you currently invest for this purpose?
We live in MN and have our property in Rochester which is home to mayo clinic. We are working on getting another property down there but inventory is quite low at the moment.
Jami Stufflebeam a few years ago I was with my mother there for a week. We were in a nice hotel but I know it would have been nicer in a home. Would love to learn more from you sometime.