Anyone investing in the Pacific Northwest?

Question

Hello! We are looking for a vacation home/short term rental in the Pacific Northwest (we live in the Seattle area), and would appreciate any recommendations on best markets to buy in. Our eyes were originally on Chelan County, but with the new STR regulations, we are starting to look elsewhere. If you have any recommendations, please send our way!

Thanks!

Shannon Ilas · Answer

@Emily Hawcroft

I’m a realtor in the Portland area and also own a beach house near Lincoln City. Some areas on the coast are friendlier towards STRs than others (Lincoln County is NOT right now unfortunately, but Tillamook County is). It’s gotten more expensive, but rents have also gone up, so it depends on what your goals are. We wanted to start with a property that we could use ourselves and have enjoyed it. It rents year round with little down time.

Don Spafford · Answer

@Emily Hawcroft Honestly, just about anywhere in ID could make for a good STR depending on how you do it. ID is a very family oriented State, people with large families coming to visit for many milestones. In Idaho Falls, I didn't expect it to be a strong STR market since it isn't really a tourist area, but there was one literally right across the street from me and I was able to see it stay rented year round. It was a 5 bed house but they filled it with bunk beds so it slept 17. And it was a corner lot, so plenty of parking space. Large groups would come through as a stopping point, corporate stays for longer-terms, and many family members would use it as they come through for weddings, baptisms, birthdays, holidays, etc. That is what really opened my eyes to it. Not to mention a highly appreciating market.

I'm part of a team developing ~600 townhomes & condos in a very open location. When completed it will be amazing. A great private community with open, green space with splash pads, ice-skating rink, walking trails, an amphitheater, and more. I plan to buy some units for myself and use them as STR because of the location and the amenities included. Most, if not all, of the investors on that development plan to also purchase units to hold as both long term and short term rentals. They are going to take the gains they get from the investment and use that to purchase the individual townhomes. The point being, this market is growing and has huge demand for housing. Just listen to any Neal Bawa webinars or podcasts in the last 6 months or so, he loves Idaho Falls and the growth he knows will happen here.

Michael Baum · Answer

Yup. Our rental is in North Idaho on Lake Coeur d' Alene.

Nick Shriner · Answer

We have a str in CDA and in the past couple years have seen it stay busy year round.  Use to just be a summer spot but more and more people are visiting in the shoulder seasons too.  I have a few clients with str's in the Sandpoint area as well and they say the same thing!  Let me know if I can help in North Idaho at all!

Sean Thompson · Answer

Sandpoint, CDA, McCall, and  Sun Valley would be markets worth checking out in Idaho.

Brent Huling · Answer

Suncadia/Roslyn area, Bend, something on the water out by Spokane/Idaho all would work.  Driving vacation destinations with water or mountains.

Shannon Ilas · Answer

@Emily Hawcroft

Manzanita has more restrictions than the others you mentioned. Cannon Beach is STR friendly, but can be expensive compared to other areas. Rockaway is a good area. Also check out Pacific City. Pm me if you have any questions.

Anyone investing in the Pacific Northwest?

Most Popular Reply