Looking for insight

[Derek Bleam]

Hi, everyone. I'm basically new to bigger pockets, and also fairly new to real estate. I currently own 2 properties, and in the process of looking for my 3rd, which will be my primary home for my family and I. But I had thoughts about buying in the pocono area to then eventually turn it into an STR, then buy a nicer more permanent Single family home that's paid for by my rental properties. I'm sure there's people on this forum that have experience with buying in the pocono area or surrounding areas, and would love their insight or knowledge of what they think the best way to go about this is. Thank you.

[Jacopo Iasiello]

Hi Derek,Welcome to BiggerPockets! It sounds like you're embarking on an exciting journey in real estate investing.Investing in the Pocono area for short-term rentals (STRs) can be a lucrative venture due to its popularity as a vacation destination.Take the time to thoroughly research the Pocono area's vacation rental market. Understand the demand, seasonal trends, local regulations, and competition in the area.

[Matthew Morrow]

@Derek Bleam Welcome to BiggerPockets! As someone who operates in the Pocono area, both as an investor and leading a team of agents, we can provide some insights. The Pocono region is a fantastic choice for an STR due to its appeal to tourists throughout the year.

When considering properties, focus on accessibility to popular attractions and amenities, as these features tend to attract more renters. It's also essential to understand local regulations regarding short-term rentals, as they can be strict. Leveraging a property management company can help manage the rentals effectively, especially if you plan to live elsewhere eventually.

If you're looking for a more permanent home later, consider areas that are not just tourist-oriented but have good schools and community resources, which can be more appealing for long-term living. Good luck, and feel free to reach out if you need anything!

[Autumn Cain]

Hi Derek! Welcome to BP!

The Poconos is an awesome area for STR and is quickly exploding with popularity! In the Pocono area I would focus on seeking out Townships and HOA's that allow STR's as not all do. This would be the first point to checkout! STR Friendly

After that I'd definitely narrow down the type of surrounding area you want for this house. DO you want to be near all the attractions like resorts and malls? Or do you want to be nestled in a private spot in the woods with a lake? Both are attainable options in the Poconos. 

I'd recommend Pocono Summit and Locust Lake, both hot spots right now with a handful of good listings. 

As far as steps here- I'd say connect with an agent in the Poconos area first and foremost- an agent that has experience with investors and STR as well so conversation of this house will be easy!

Good Luck!

[Mya Toohey]

Hi Derek!  That's awesome that you have gotten off to such a great start.  I am in the Tampa Florida Market and welcome you to BPs!!!!