Calling all Branson Investors

33 Replies

My wife and I have decided to OOS invest in a STR/Vacation property in Branson. However, the vast number of STR options are a bit overwhelming. In an effort to narrow down our search for our realtor, We're trying to sort through pro and cons of different condo communities a have learned this is a pretty daunting task, especially for an OOS investor.

So I thought rather than reinventing the wheel, perhaps another savvy investor or professional has already created a “Branson Smart Sheet” product that helps compare and contrast different condo communities.

Here’s some of what we’d find helpful:

1. COA/HOA rates/restrictions (along with what's included). Zillow is hit or miss in this area.

2. PM options. Some are on-site managed, some have no limitations, and others require a specific PM vendors.

3. Accurate list of amenities provided

4. Desirability of location for STR . Performance data would be helpful for like units in community (# days per year occupied, rates received, etc)

5. Intangibles like parking or traffic problems, or condos that are poorly managed, etc.

Does something like this already exist? If not, I’ll try to put something together.

@John M.   Why don't you do STRs in Wynnewood?  I'm killing it here in Coffeyville with my 23 STRs.  CVR Energy contractors are my tenants.  CVR has a refinery in Wynnewood and nobody is doing STRs there, that I know of.  I get $600/week for a 3BR bank foreclosure that I paid $9500 for, and I have more of these than I can count on one hand.

@Paul Sandhu sounds like a great area. We might look that direction a little later. Logistically, Branson is a better location for us and we really enjoy vacationing there... also it is closer to family. Being in the military, any opportunity to be closer to family is desirable. Thanks for sharing

@John M. That would be a genius little cheat sheet! I have a property in Branson that I STR with for awhile, but the association stopped allowing it so now I have a long term tenant in there. Luckily the numbers still work and it is less management intensive. However I would like to find another STR in Branson as well. Much more profitable! And I find it fun hosting different people on their vacation :D

@Kendra Levy   It's pretty simple.  Buy a bank foreclosure.  Fix anything that needs fixing.  Furnish it from estate sales (furniture and appliances), then decorate it.  I put artwork of nude women in all the bedrooms.  I like to use the works of the same artist in each room.  Each room has a different artist, and has the artwork only from that artist.  You can also buy a book on the Kama Sutra and frame the illustrations printed in there.  Vargas is probably my most common artist.  

Remember, you are renting to refinery contractors.  These are guys that drive jacked up 4x4's, chew tobacco in their sleep, smell like diesel fuel, have neck tats, and pretty loose with their money around women.  It might not be your cup of tea.

Originally posted by @Kendra Levy :

@Paul Sandhu


How long do you see them needing to get a short term rental? Like will it be a good market in 5 or 10 years? 

This refinery produces diesel fuel and nitrogen fertilizer.  So as long as vehicles are using diesel fuel and farmers are growing corn/wheat, there will always be contractors coming here for short term jobs.  By law, no new refineries can be built in the United States, and existing refineries can not expand beyond their current boundaries.  That's why this refinery is relocating its warehouse, maintenance shop and administration building to outside the current perimeter.  That frees up ground within the boundary to construct more refining process units.

 

@John M.

Awesome!

It is Branson Kingsgate Condos which is managed by Thousand Hills. They allow STR, but you have to go through their nightly rental program and I forget the exact percentage... But they take alot for managing it and what not. So I was better off finding a long term tenant.

@John M.

I've been in the process of looking for a STR in Branson for the past 6 months. I'm waiting on a flip to finish and sell so I can do a 1031 exchange.

I've been working with a realtor who's broker also manages properties. It's a huge benefit because they can provide real numbers of subdivisions for properties they manage. From my research there's a subdivisions called vineyard that recently switched zoning from long term to STR. The PM only has one property there but it produced quite well. They are selling the 3 bedroom units for $90k.

They are in the process of updating all their units. We went and looked at them about a month ago and while I think they can have a great ROI, we didn't feel like they were the right units for us.

@John M.

I bought a two bedroom cabin there for 130k that is in a gated community (Stonebridge) that has STR condos and cabins. It's right next to silver dollar city. I use a management company that has done a great job for me. They do everything and wire me $ every month. It rents out about 160 nights a year. I do have to pay COA and HOA dues which eat into my profits. But living out of state and coming to stay in it any time I want is worth it. I'm probably making only 8-10% on my investment, but I like the hands off approach and let someone else do all the work. PM me if you want my property management's info. I don't think I'm allowed to say it on this forum. They can also give you the number of nights their condos and cabins rent each year so you can crunch the numbers and see if it's a good enough ROI...that's what I did before I bought there. I'm sure they have some for sale. You won't get rich off STRs in Branson, but I feel there's enough meat on the bone to go for it and invest there.

@Kendra Levy I'm sure you can call the city, as you mentioned. Their listings on MLS are advertised as STR.

I've seen quite a few new Vineyard Airbnb listings. They are all decorated very well. Its a pretty low risk investment, based on the numbers. Vineyard doesn't offer a whole lot of amenities so their HOA is low and at the purchase price of $90k, your break even isn't very high.

@John I haven't invested in STR in Branson, but I've invested from Branson up to Springfield since 2015. More of a buy/hold guy personally, but I know (2) really solid real estate agents that might be able to help take some of this off your hands. I know you mentioned an agent, and you may be tied down, but I'd be happy to introduce you if that may help. I'm sure they, or my property manager, could introduce you to a local STR investor!

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