Air bnb in New york

[Giancarlo Sarmiento]

Anyone recommend how I could stay most up to date with air bnb polices in New York, more so queens and Long Island areas.

[Mark Miles]

Originally posted by @Giancarlo Sarmiento:

Anyone recommend how I could stay most up to date with air bnb polices in New York, more so queens and Long Island areas.

I highly doubt you will make a good ROI in that area. I tend to buy in the Southern half of the US for 2 reasons:

1) you get much higher year-round occupancy rates in the South & it’s simply tough to earn a good ROI in the North if your place sits vacant for a big chunk of the year

2) Culturally, the Southern half of the US seems to be a lot more accepting of STRs regulation-wise. A lot of these southern beach & mountain towns have been supporting STR for 75+ years, long before Airbnb was a thing, so they're very comfortable with it and it's a built-in part of the community.

A lot of Northern places are FREAKING OUT over STRs & STR regulations & they don’t seem to be very supportive of it. So, in the North, best case you’re fighting an uphill battle with a lot of uncertainty. Worst case, it gets outlawed in a town AFTER you’ve bought a place there & now you have to sell at a HUGE loss bc there’s no buyer demand once STR use is banned! I’ve seen it happen...

As you can see, I’m not the only person on here with this viewpoint. As you can see from this thread that I’ll link to, most of the experienced investors on here are also heavily invested in the Southern half of the US!

https://www.biggerpockets.com/...

Though, if I were gonna invest anywhere in the Northeast, I’d go with Vermont or New Hampshire bc they’re the only legit ski places in the northeast. Not to mention the amazing fall foliage! Anywhere else in the northeast just doesn’t capture enough year-round traffic.

“Wise Northerners invest in the South” -Mark Miles