General Curiosity - What is the Sentiment on your STR Property(s)?

[Josh Brost]

Hey everyone,

I wanted to get a sense from people who have STRs on how they view the current landscape of STRs, and how they feel their properties are performing? I've helped numerous clients find STRs. One client of mine is absolutely crushing it in Green Bay, Wisconsin. Another who bought a lake property merely says it's been going "okay."

Just curious on what some of you think of where the STR game is currently at, and where you think it is heading?

Personally, I feel as though it was very lucrative back in the day, but it is much more difficult now to see a great return on a STR post-covid due to a saturation of people wanting to become STR owners, municipality restrictions, etc.

[Michael Weigum]

My STR's are doing great. Actually my numbers are the same the last two years despite all the rumors of an Airbnb bust. I believe the same as what @Nathan W. shared. It's a business. Just like other businesses, some succeed and others fail and it boils down to management. Also, no one cares about your business more than you do. 

I also agree with @Michael Baum, STR in the right area at the right price will do well. One reason I bought my Oceanfront condo in Myrtle Beach is because it has all the criteria to do well. 14 million people visit here each year. That's a lot of demand. Second, it's the beach! and it's an easy drive from some major cities like Charlotte, NC. Third, the price of entry is still relatively low. These are all key factors for me.

Expectations are the big factor now. As others have said, if you think you are gonna just buy a property and start printing money, that probably isn't gonna happen. That's what math geeks like me enjoy showing people. The math never lies. 

Numbers are numbers, business is business, and expectations have to match that.