STR in Hunter or Windham, NY

[Sanderson Mittnacht]

I'm looking to connect with any investors who own a STR in the Hunter/Jewett/Windham area who would be open to a conversation about the Airdna numbers in the area and building a team (contractors/cleaners/pm).

If anyone has experience up there,  please let me know.

Also very open to any partnerships if that’s of interest as well!

[Sean Bramble]

There are a few other forum posts on this topic you should search. I was looking in these areas over the last few months and can confirm that they are very STR friendly and locals in the markets expect them to remain so (lots of second home owners renting their places when they're not around … there have been a few city council meetings where STR owners took a stand to ensure it would remain legal). Hunter, Windham, Jewett are safe, Lexington has some limitations that may or may not be flexible (capped currently, but there is word they will increase the # of allowable permits soon), and Prattsville hasn't weighed in yet. But Hunter, Windham, Jewett are the sweet spots for demand anyway.

That said, revenues seem to be declining since the highs of the pandemic, so be sure to consider that in your underwriting. Specifically, shoulder season this year (Mar-May) seems be lower than 2021 … so it will be interesting to see how summer performs vs the pandemic years. For now, I would recommend being very conservative in your underwriting - assume 2019 was a “normal” year, and keep an eye on this summer to see if you can adjust expectations upward. Airdna shows historical going back multiple years, but Pricelabs has better granularity for looking at the market today (and is cheap as hell - just draw your own radius and pay $10-20 p/month).

Beyond that, property taxes are generally high in NYS vs other states. This really infcreases your PITI and decreases cashflow, but as they say - if a deal works it works regardless of any one variable

PS- there is a forum called “Short Term Rentals” on BP - if you post on there you will probably get a lot more responses than this one

feel free to reach out to me directly if you have any other questions - happy to help! There are a few agents I can recommend, but beyond that this is the info I have. Good luck!