STR in Indio or Palm Springs CA

[William Kim]

Hi BP Community!  

It's been a while and hope everyone is staying safe and healthy during this time.  

My wife and I are contemplating getting into STRs and are looking at the Palm Springs/Indio, CA markets.  Perhaps even Joshua Tree.  With the hot real estate market, we're wondering what your experience has been like in purchasing SFHs and still making the numbers work.  I understand that what works for some may not work for others, but just want to get a general state of the market out there.  

We also understand that STRs are not like LTRs and require more work, which we are more than willing to do.  As long as we get the systems and processes in place, things will be a lot more automated and "less involved" down the road.  How have you been handling bookings (AirBnB, VRBO, both/other)?  Also what apps do you find most helpful?

Also what range of expenses are we typically looking at in these markets? 30-60% depending on how you furnish/decorate and what amenities you offer?  

Would appreciate any feedback at all and thank you in advance!

William