My next STR... ??

[Nichole Willis]

I have a place at Lake Eufaula, OK that I turned into a STR this year following my divorce. I also own a small lot next to it. Both are waterfront with a really nice sand beach just steps away. I have my current place listed on Airbnb and did fairly decent in 2022 with rentals without much effort, but I caught the bug now. I'm really interested in continuing to grow as an STR investor.

My question is about the lot next to my current listing.  I'm wondering if it would be a good idea to plan to build or place a prefab home on the lot as my 2nd investment opportunity?  I manage my current place now and it would make it easy to manage that as well.

Just curious what more seasoned STR investors think of this plan or if I should look for something already built to invest in?

Thanks!