Successful STRs in Downtown SA?

Question

Hi All, as an OOS investor trying to gauge the market as I'm looking to do a flip into an STR in the downtown area and need some guidance before I start committing to building a team. Have people had success doing this down there? What are you targeting? What's best to stay away from?

I'm looking at places near the Dignowity and Eastside area that's sparking my interest.

I'm looking at places near the Dignowity and Eastside area that's sparking my interest.

James G. · Answer

Have any others had success or could comment on the STR market downtown?

Betty Cruz · Answer

It’s just my opinion. There are lots of other owners out there who may have more data than I have.

James G. · Answer

@Betty Cruz. That’s unfortunate.  The whole reason for looking was to try and break into the market with STRs. Conventions and downtown tourism seems like something that would eventually come back. But maybe not the best if it’s already saturated.

Betty Cruz · Answer

@James G. I have a couple in Dignowty. Right now they are mostly staying rented by month long renters rather than tourists. I believe the area is saturated with STRs but Covid has shut down so much tourism and convention business that some are probably not going to survive through this, which may make it more lucrative for the ones who stick it out till things return to normal. Just my speculations.