Condo without ocean view- good for STR?

[Suvarna G.]

Hi experts,

I am relatively new at this although we do own a STR in Kihei region with some view. I see an opportunity in Lahaina with no ocean view, some mountain view and that is priced lower but has great interiors and is STR able. Are STRs with ocean views the only ones successful? Worth investing?

S

[Mike Neubauer]

Quote from @John Underwood:

I'd stay away from a condo.

HOAs can make your life miserable with fees, rules and fines.

You can make more money with a private house.

I can rent a condo in Myrtle Beach cheap because there are so many of them competing for my dollar.

 @John Underwood with all due respect, please stop posting about markets you have no knowledge of. If an investor wants an STR on Maui they are limited to investing in condos. You can't buy a SFH and get an STR permit without holding the property for at least 5 years before applying. Even then, the county has all but said they're not giving out any more TVR permits on single family homes. I've seen too many of your posts about Maui that are not accurate. You're giving investors bad advice. I know nothing about investing in Myrtle beach so I'll leave that forum to you. Please leave Maui related advice to people with Maui related experience.

@Suvarna G. Like @Mark Waite said, your costs to acquire are going to be less without the ocean view.  We've seen the numbers actually working out better in many cases with investing in places without an ocean view as opposed to those with one.  When you take into account the premium you would pay for ocean front vs. across the street for example the price can be almost double.  However, the nightly rates can still be 75% of what you might get for ocean front depending on the area.