Short Term Rental Markets

[Steven Cornell]

I'm currently researching the prospect of short term rental markets relatively close to home which is Saratoga County NY. It seems there is a great discrepancy over whether it is smarter to stay local or not for your first rental investment. I am not against LTR but would like a higher cash flow property since my wife and I are already in our early 40's. We have full time professional jobs and children so getting into heavy rehab or flipping is not an option. Popular markets near us appear to be the hudson valley, adirondacks, finger lakes (although it seems STR's are under fire there), and even the cape cod area as we have vacationed there a lot and know the area fairly well. I'm wondering if people had experience in any of these particular markets they could share.

[Vince Scipione]

Quote from @Steven Cornell:

Quote from @Vince Scipione:

I hate directly plugging my own market on here because it feels grimey, however I feel like with what you described, this may be an obtainable market for you. Lower entry point compared to NY, 3.5hrs away. Lower Property Taxes and a booming STR market. Regulation battles by HOAs are being lost in the courts as well. My market is only 2.5hrs from NYC so many people come here for a weekend getaway in the mountains and lakes.

 Thanks.  I will keep that market in mind.  I'm trying to narrow down some options and do a deeper dive on maybe 2 or 3 of the best potential markets to see which one makes sense to start in.

 I would check out airdna pay for a monthly sub for a bit, it really helps paint a picture of the health of a market.