Would love to hear comments. Seems like this could be a semi-year round destination?

We rented it for 2 years then they put in regulations. Not ideal. We are lucky, it went from profitable to paying for itself and we are getting to use it more so it’s not the worst thing. Others didn't end up as well.

We were not grandfathered in. They enforced it on everyone.

My goodness, that is awful. So you were not grandfathered under restrictions?

Sounds like it’s time to buy some ABNB puts.

Hey @Collin H., a quick search came up with this - https://www.adirondackdailyenterprise.com/news/local-news/20... The law will prohibit the issuance of new unhosted STR permits in residential neighborhoods, among other new measures that elected officials say are intended to preserve the Lake Placid community while still inviting the economic benefits STRs bring to this village... So that probably means that commercial zoning and the like will be the only way to do it now. The article said there would be a 5% tax on STR as well, so that means it is still doable, just have to watch where it is located.

Any STR experiences in Lake Placid NY?Any STR experiences in Lake Placid NY?

Back

Resources & Media

Resource Hub Bookstore Blog Guides Pro-Exclusives PRO Podcasts Pro Partnerships Property Management Toolkit

Events & Training

BPCON2025 Webinars Bootcamps Upcoming Events Free Courses

Strategies

How to Manage Your Rental Property How to Operate a Short-Term Rental How to Passively Invest in Real Estate How to House Hack How Does the BRRRR Method Work How to Flip a House How to Invest in Commercial Real Estate How to Invest in Real Estate How to Invest in Multifamily Real Estate How to Build Wealth

BPCON2025

This is your chance to learn from the best, network with the best, and become one of the best in the game.

Learn More

Free Webinar | 5/7 at 7pm EST

It's a weird market, but you can still find cash-flowing deals, fast. Dave Meyer will show you how.

Register Now

Back

Pick Markets

Market Finder - NEW PRO Picking a Market Workshop PRO Picking a Market Worksheet Top 100 Cash Flow Markets Market Insights - Sunbelt Region

Market finder

Pinpoint the best real estate market for your specific goals with expert recommendations and real-time data on appreciation, affordability, rent-to-price ratio, and more.

Pick Markets

Pro membership

Get unlimited access to tools and resources that make it easier to find, analyze, and manage deals with confidence!

Upgrade to Pro

Back

Find Deals

BiggerDeals NEW Off-Market Deal finding PRO Real Estate Syndications Investor-Friendly Agents Find Foreclosures Community Listings (FSBO) Business Directory

NEW! Find Cash-Flowing Deals Fast

Search nationwide listings with built-in cash flow analysis.

Find Deals

Invelo - off market deals

Scale your portfolio with off-market deals.