Would Love Hear Some STR Success Stories!

Question

Hello investors! I am getting ready to purchase a vacation rental in Branson, Mo. I am excited to get started and would love to hear your success story for inspiration and for others who are thinking about it or wondering if it's worth it!

I have heard plenty of warnings and tips for difficult situations, but the time to entertain fear about what could happen has passed. I would love to be inspired by the possibilities of what could be! Brag away! I don't mind :) Thanks!

Lacy

Jon Crosby · Answer

Hi @Lacy Langley, I like your attitude, it sounds like you are ready to take the STR world by storm!  My quick story was I purchased my first vacation rental in Lake Tahoe, CA 3.5 years ago and never looked back.  My background in IT allowed me to come up with creative ways to remotely manage the property thus allowing for more profits to build over time.

I'm happy to say that our first cabin (The Tahoe Bear Bungalow) has allowed us to purchase another property on the other side of the lake where I'm 'rinsing and repeating' my strategy all over again!  We have just recently sold the first property for which we will be looking near the coast to diversify our VR strategy a bit more and allow us yet another favorite place to vacation a few weeks a year.

I wrote some blog articles on my experience if you want to check them out!  Looking forward to hearing your success story once you get going! Best of luck!

blog:  https://www.biggerpockets.com/blogs/10042/

Cheers!

Lacy Langley · Answer

@Michael Kugler, Thanks for the advice! I will check out Indian Point!

Michael Kugler · Answer

So, I would advise against anything PR. The HOA dues and the assessments have been pretty extreme in the past as I recall. The "resorts on TRL" is too broad. That could mean Kimberling City, DD HWY, Indian Point, etc. Indian Point is a GREAT place to buy in as you have almost guaranteed traffic with SDC and TRL. It is 100% dead for January, February and March but, you will definitely see smashing success for the rest of the year.Best of luck - hope you have a LOT of fun with your new purchase.

Lacy Langley · Answer

@Michael Kugler, we have narrowed it down to a couple of resorts over by Table Rock lake, Fall River and Pointe Royale, I believe. We will be coming to look at a few that we've found online hopefully next weekend.

@Jon Crosby, I will definitely check out those articles and thanks for the inspiration!

Michael Kugler · Answer

Lacey, where are you purchasing at in Branson? I live here and know the area very well.