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Updated over 6 years ago,
First time investor - Airbnb in Poconos, PA?
Hello BP community. I'm a first time investor looking to purchase a distressed home in the Poconos. The goal would be to Airbnb the place out so that we can cash flow more than would be possible with a long-term rental, and so that we would have access to the home for ourselves when desired. Total budget including rehab and furnishing would be around $150k. Would ideally be a place that feels secluded, has a cabin like feel, surrounded by nature, and is not part of a community with fees.
I've looked at previous discussions around this topic, but I still have many questions:
- Does anybody have direct experience with short-term vacation rentals in the Poconos? I would love to connect to get an idea of how it's going for you (vacancy rate, cash flow, your overall experience).
- I'm drawn to the Mt Pocono area for it's proximity to local attractions, but does anybody have any other recommendations? I know Poconos is a big area, but I'm just looking for a few suggestions of towns that work better than others for short term rentals.
- Any other help/recommendations would be greatly appreciated! Despite the initial research suggesting how difficult it is to make money in this area, I want to stay optimistic and believe it's possible. Thank you all in advance!