It’s an age-old debate about investing, it is an art, or is it a science? When it comes to the science, good investors have data. One way to get data is to go to Airbnb, VRBO and others, search for properties, look for ones similar to what you are seeking and gather rate information firsthand. There you can read reviews and get some additional insight as to the property and its setting. With a strong...
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I spend a lot of time with customers who have big visions of success in the short-term rental business and they often ask me questions about a property’s ability to generate profit. Many have use data tools like PriceLabs or AirDNA to help them understand the market and the opportunities that currently exist there. They tell me they’ve run the numbers and then ask me what I think. My...
The end of the third quarter is a time of significant transition in the vacation home market in the Poconos. The busy summer vacation season has wrapped up, and for some it is time to look at their position and perhaps make some changes. As a realtor focused on helping buyers find vacation homes they can also use as a STR, I keep an eye on the market and help identify trends that can help...
As a realtor, focused on helping buyers find vacation homes they can also use as STR, I keep an eye on the market and help identify trends that can help my clients. As one measure of the health of the market for vacation homes in the Poconos, I tag communities as STR-friendly (indicated with a green light) and keep a tally of available homes in these communities. At the end of July 2021, there were just...
If you found your way to this page, you are likely looking to build a Short-term Rental business in the Poconos. If you don’t live in the area or haven’t work here, you might be worried that you’ll have to go it alone. That is not the case, there is a whole industry built around vacation properties and vacation rentals. I’ve put together some partners that you might want to...
As we enter 2022, competition is still intense for properties that can be used as vacation home rentals here in the Poconos. The rapid rise in prices looked like it was slowing down in late 2021, but demand seems to have risen and prices have taken off again fueled by a number of factors. That has created several new problems for people looking to finance their purchase as appraisal gaps are once again...
The Poconos have been a popular vacation destination for generations. Vacation communities continue to be built for second homes and investment properties and the practice of renting them for short periods is as old as the manmade lakes which were built around. The rental business has surged in recent years with the rise of booking platforms like VRBO and Airbnb which have put additional...
As we enter 2023, the real estate market in the Poconos remains vibrant and there is some good news for buyers. Inventory is twice the level it was a year ago, prices seem to have stabilized (plateaued?), and sellers are becoming a lot easier to work with. In my opinion, we are still in a seller’s market, but we are slowly seeing some balance. New properties continue to trickle onto the market,...
Short-term Rental Properties are different from Long-Term Rental Properties and the smart investor will have a plan. As a realtor, I field a lot of calls and interest from people who are interested in investing in a Short Term Rental (STR) property in the popular vacation home area of the Poconos. Some of these inquires come from real estate investors who own residential apartments or homes for rent...
There are indeed risks associated with regulations that will impact a STR Business. Operators who are willing to invest time and effort to influence the political forces that impact their business can help minimize that risk. Here we explore how.