Updated almost 7 years ago on . Most recent reply
First time investor - Airbnb in Poconos, PA?
Hello BP community. I'm a first time investor looking to purchase a distressed home in the Poconos. The goal would be to Airbnb the place out so that we can cash flow more than would be possible with a long-term rental, and so that we would have access to the home for ourselves when desired. Total budget including rehab and furnishing would be around $150k. Would ideally be a place that feels secluded, has a cabin like feel, surrounded by nature, and is not part of a community with fees.
I've looked at previous discussions around this topic, but I still have many questions:
- Does anybody have direct experience with short-term vacation rentals in the Poconos? I would love to connect to get an idea of how it's going for you (vacancy rate, cash flow, your overall experience).
- I'm drawn to the Mt Pocono area for it's proximity to local attractions, but does anybody have any other recommendations? I know Poconos is a big area, but I'm just looking for a few suggestions of towns that work better than others for short term rentals.
- Any other help/recommendations would be greatly appreciated! Despite the initial research suggesting how difficult it is to make money in this area, I want to stay optimistic and believe it's possible. Thank you all in advance!
Most Popular Reply
Those are valuable questions. Although I dont have properties in your target area, I'm a developer and have experience with short term rentals so feel free to reach out.
One think I would recommend is to check your competitors and see how much they are charging and what types of experiences they are offering to the guests. That will give you a clear picture of what's going on around.