Real Estate Investments In Pocono, PA

[Steve Miklashevskiy]

Would love to speak to those who own real estate in the Poconos, PA. Looking to buy in Tannersville, near Camelback, would love to speak to people who own or invest in real estate in that area.

Steve

[Mark Miles]

Originally posted by @Steve Miklashevskiy:

Originally posted by @Scott Rankin:

Hi Steve, I have a couple of properties in Pocono Lake, not too far away, that I use as short term rentals on Airbnb.  I've only had them for a little over a year but they've both been performing well for me thus far.  I know @Mike S. has a property in Tannersville that he uses as a STR, and I have one friend who owns several near Cresco that are doing very well also. I hope that's helpful!

Scott, thanks for your response, very helpful. I see a few available properties in the Pocono Lake, how do they do in terms of seasonality?  How are the rentals in Sept-Nov and March-May?

Outside of July and August, the Poconos are pretty much weekend only at best. Tough to cover your exorbitantly high property taxes and power bills and septic costs with only eight days of rental each month for 10 months of the year. I have some friends who invest in the Poconos because it is so close to where we live, They don't earn nearly the ROI that I do investing down south where I get year-round occupancy.

Also there's a bit of a gold rush going on in the Poconos since the pandemic started. Every house gets multiple offers, they go under contract within three days of being listed, and houses are selling for like double the amount they were selling for six months ago. If you find something you like, better make an offer the day it hits the market and you better offer asking price or higher. Seems a bit ridiculous to me, I will stick with my southern properties that have higher ROI, lower property taxes and lower power bills. And no headaches from wells and septic systems