Short Term Rental in Poconos Still Profitable in 2023

[Syreeta McDonald]

Hello. I live fairly close to the Poconos. I would like to purchase a STR that I can also enjoy as a vacation home. I would be satisfied with just making enough to cover expenses because I need a place to get away from the city. My mortgage would be about 15,000 a year. Then there is a course money that is needed to pay cleaners and for repairs. Is this still a profitable area to invest in? Thank you.

[Scott K.]

Quote from @Shaindy Boss:

I don't agree that you should manage things by yourself because it really depends on your priorities. Managing an Airbnb takes years of experience and even an entire team (in terms of pricing etc.) to really maximize everything. Sure if you plug vacasa into it they will do worse than what you can do because they don't give a flip but if you find a good local manager (I use Hyatus Stays) you can find they will do much better than what you can do because it's their full time focus and job. I'm in real estate (broker) but I don't want to learn the ropes of STR management

It's a little strange you feel so strongly about something you never even tried. Ask yourself who makes the most profit and has the highest ratings on airbnb? Its not the airbnbs who use management companies thats for sure. You absolutely do not need a team to set your pricing, there are lots of free automation tools out there. You also do not need years of experience, you just need time to be effective. If you dont have time, sure, dont bother. But I dont reccomend people get into this business who simply dont have the time to make it profitable. Any glance at the local market will immediately show you 50-100 airbnbs in the poconos who are for sale due to owners who didnt have time to work on them. It's not a 'passive' business.