Pocono's STR investing

[Charles Renn]

Hey BP family,

It seems that the Pocono's has a lot to offer for investors looking at STRs. Since I have yet to buy in the market, I am hoping to get some feedback from local STR investors as to how their properties are doing. I've connected with a couple management companies which have been great in their own regard. My main concerns are market saturation for STRs and what to expect regarding seasonal occupancy/daily rates. If you have any resources you're willing to share, much obliged. Perhaps there are areas that you'd recommend within the Pocono's that I should focus my search.

Thank you in advance for your thoughts!

[Scott K.]

In general, management companies will underperform.

Poconos real estate market is roughly 30% higher than it was 2 years ago, and interest rates are also up. I'd personally wait it out.

Airbnb competition is higher than it's ever been, to the point where a lot of STRs are being sold on the market.

I've talked to other hosts, and this year is underperforming last year, even 2 years ago.

Seasonality, summer is best, with holidays performing well. Otherwise only weekends really get booked unless you have one of the top 3% of houses in the area (think hot tub+pool, 6+ bedrooms, fresh renovations, etc.)

The STR market is also difficult to understand as each township has different rules. Some don't have rules, but could ban or restrict at any moment so difficult to understand the risk involved.

I know I sound negative, because, well, its negative right now! It's not great. Things might change for the better, but they're way worse than a few years ago.

Good luck!