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Updated almost 5 years ago on . Most recent reply
Looking for towns that are mainly tourist driven to buy an STR
I'm currently looking into towns that are good for STRs. I currently own an STR in Gatlinburg, Tn and I am thinking of buying another property in a similar town maybe in a different state. Any suggestions?
Most Popular Reply
Florida is obviously booming right now in general but especially with the STR market.
We own and operate 30+ Airbnb/STR's here in St Pete, Florida for over the last 5 years and we've seen some incredible year over year growth. Supply still trending well below demand.
Buying right and strategic renovations is still vital. Along with highly process orientated management systems are key to command premium rates and stay ahead of the pack. Also make sure you understand the market and seasonality. Know when to push rates during season and when to shift to 1-2 month stays for the slower season. Hint: Traveling nurses are awesome for this gap filler.
Hope that helps!
@Avery Carl incredibly insightful podcast on BiggerPockets btw, shared it with my STR team. Thank you!