STR Lakefront Property

[Joseph Hossenlopp]

I am looking to purchase a Short-term Rental.  I am looking at Lakefront property on Saturday.  I am in NY, so the closing costs are a bit higher.  I did an analysis on BiggerPockets, any feedback would be appreciated!  I did the comps, and properties this size average $300/night.  I figured I could rent out 150 nights/year, so that's where I got the rental income.  Could not figure out how to add the file as an attachment, so I copied & pasted.  Little hard to read, sorry.

[Joseph Hossenlopp]

Quote from @Lisa Lister:

I am a Realtor in Branson Missouri serving many investor clients nationwide. I use historical data from the listing agent or my client (if I am listing) to analyze the property. I find that some programs bump up PNRs to encourage investors, however working with my clients I want them to be pleasantly surprised, rather than disappointed at the end of the year. We have a 10 month season here, and my conservative numbers are always based on 160 night per year of STR income and I split the PNR into peak and off peak (usually 50-50). Hope that helps!

That’s great!  I am being pretty conservative then. I just kinda guessed on that number. I did a deep dive- checked out all the lakefront properties of the lakes I’m looking into- then did a spreadsheet with bedrooms, baths, # of beds & # sleeps to compare to the properties I’m looking at. Think I’m on the right track. Pretty competitive out there now but I’ll keep looking.