Investment in Poconos

[Kazi Tasnim]

Hey everyone!!!! Hope you guys are doing fine regardless this Pandemic. I am new to this forum and would really appreciate some advice. TIA

I and my husband are planning on buying a house in Pocono. We have recently been in East Stroudsburg to visit Bushkill Falls, which inspired us to buy a home to put up on airbnb. I am looking through areas like Tannersville, Lake Naomi, Lake Harmony, Pocono Lake. But the houses there are a bit expensive than my budget. I found a few houses that I like in East Stroudsburg, Tobyhanna. I have read mixed comment about these areas. Can someone please suggest if its a good idea to buy a house there. Does anyone have experience in those areas and is it profitable? Thanks a lot again.

[Phillip Costa]

The Poconos is still one of the best STR locations to find high COC returns. We own one and operate others for investors and we've all been able to make great returns. I am part of a network of STR investors all over the world (including the Smokies, Joshua Tree, and Florida) and everyone is having a hard time making the numbers work but the Poconos still hold strong.

You definitely need to be careful with STR regulations but do your research and team up with a great realtor (@Mark Shay is a Rockstar) who understands/keeps up with the local meetings. At the moment, the only way to have success with STRs is to STAND OUT. This means you need to provide guests with an amazing experience and that comes down to many factors such as location, interior design, and perfecting your systems/operations. 

If you are looking for a completely passive investment in STRs then I suggest teaming up with a great operator that has the vision for the property, can execute on that vision (interior design and furnishing the place), and have the systems in place to provide every guest with an amazing experience without missing a beat. 

Send me a message if you have any questions or need suggestions!