Hi Everyone,

I've recently tried pivoting my RE strategy and started trying to focus more on STR (currently 5 STRs in my portfolio) . Can anyone recommend and / or help replicate this model in other places? What STR areas are doing well right now / Pre Covid as well? Let's chat!

Coffeyville, KS... :) Seriously though @Tony Gorokhovsky , there are a bunch of areas doing well. The Pigeon Forge/Gatlinburg TN area is still a top notch place along with Destin/30A are in FL.

Do some searches and you will find some topics.

I'm from Coffeyville Kansas.  Maybe I should do some STRs here?  

The areas @Michael Baum mentioned are some of the best. There are many similar discussions on this forum that may be beneficial to search through on this same subject.

Tony, where are your 5 STRs located?  Curious to know how your market compares with some of the ones that are regulars in this forum.

@Joseph Bafia

TN and NY.

excellent.  I have 3 STRs in NC near the TN border.

My first was doing great pre-covid, and that prompted us to buy 2 more.  Once covid it, we were shut down for about 45 days.  Once restrictions were lifted, we took off better than ever.  Highest rates and pushing 90%+ occupancy.  Already on the hunt for another property (we had one under contract that fell through recently).

I'd like to venture and diversify into other markets as well but its tough to shy away from what we know and what has worked.

I am considering getting an STR in Tampa Bay area but I wanted to analyze if it was indeed the most optimal STR location. Are there any reports that mines AirBnb/ Hotels data and quantifies the most attractive STR markets?

Airdna.co, DPGO, etc. Just google AirBnb data and you will find several sites that will give you data.  Best option I use is just using Airbnb and VRBO and manually searching areas to see what the market is like.

@Brent Huling I have been searching manually as well!

@Tony Gorokhovsky Where in NY?

By Hunter mountain

Originally posted by @Brent Huling :

Airdna.co, DPGO, etc. Just google AirBnb data and you will find several sites that will give you data.  Best option I use is just using Airbnb and VRBO and manually searching areas to see what the market is like.

I see a way to explore individual markets on AirDNA and DPGO and that is very helpful. Do you know if these agencies also have reports that show the most attractive destinations? With the most occupancy, markets with the most demand, top per night price markets, etc. 

 

@Suraj Guptha

Lots of data in AirDNA very eye opening that there are many markets that do extremely well even if not top markets.

Below is the top places per AirDNA data for 2020.

https://www.airdna.co/blog/best-places-to-invest-in-us-vacation-rentals

Personally, I don't trust AirDNA results. They have their use, but you need to drill down on a specific area with your own research to refine that data. AirDNA often over estimates the nightly rate and occupancy rates.

@Tony Gorokhovsky

I just bought a property in the Florida Panhandle.  Doing great with the help of @Avery Carl and her team.  Took 6 months to find the right property and got outbid many times, but persistence is the goal.  I live 950 miles away.  Spent three weeks there rehabbing and furnishing it.  I’ll have my investment for rehab and furniture back in the first year.  Cash on cash return in excess of 20%.   I looked at Airdna but I followed at @Luke Carl concept of enemy method.  Search your competition and see your actual competition versus some algorithm.  

Hello All , I have LTRs and I would like in to start investing in STR‘s but I need to do a lot of investigation work. If anybody would be willing to talk to me about their experience owning an income producing STR, I'd really appreciate it! I'm in the investigation stage and hope to buy something in the next few months.
Thanks!!!! 
Erin 

Isn’t this the same type of question as these silly best places to live lists that get generated every year? It’s a loaded question. Look at the data and decide for yourself what makes sense based on criteria you actually spend time creating yourself.