All Forum Posts by: Adam Kindwall

Hi Kahner,  Door county has a lot of potential for STRs however the regulations seem to be in flux as of late.  Some municipalities are trying to crack down and it is hard to say which regulations will stick.  Some are suggesting requiring stays to be longer than 7 days, and others are requiring that STR owners must live within 75 miles of the property or have a valid, registered agent located within Door County.  You would have to check with each township to see what they allow.  I have definitely looked into investing there but want to see how all the talk of regulations ends up. There are so many lake homes in central Wisconsin that have just as much potential with out the threat of regulations.

@Josh Fisher Short term definitely can gross way more in revenue. Sometimes 2-5x as much as a long term lease. It really depends on the area and demand from travelers. Often times it will still net you more cash flow even after all extra expenses including turnovers and a cohost/manager.

@Brock Mogensen I believe you are correct. From the research I have done with the Airdna data those are pretty solid locations. I would add that extending into the Bayview area would have potential as well.  I am also looking at the Wauwatosa area near Froedert Hospital.

Hi Chari,  I have also been looking closely at the Airbnb market in Milwaukee. What area of Milwaukee are you in? Did you end up sticking with the short term rental strategy for your rentals?

Madison's regulations for STRs are not great unfortunately. This is why I've been looking to expand into other areas of WI. The potential revenue that STRs can bring can double if not quadruple what is possible with a long term lease. It is a bit more hands on for daily operations though. You could certainly offer furnished monthly rentals for a greater rental price. The Madison regulations only apply for stays shorter than 30 days. 

Who on here is actively looking into the short term rental market in Wisconsin? I have been hosting on Airbnb in Madison for the past 4 years and looking into expand into other areas of WI. I am looking to purchase and also cohost for other investors. The Milwaukee market seems to have favorable regulations, but from looking at the Airdna data it seems most lake homes through out central WI can have a lot of potential. I am curious if others are actively buying in this area with the intent of the property being an STR? If so what specific areas are you targeting and how are the regulations?

@Karol Chmara

Hi Karol

I am also looking intensely at STRs in Wisconsin. I have been digging into the AirDNA data for areas all over The state. The most obvious vacation destinations being the Dells and Door county seem to be flirting with new restrictions and regulations that give me pause. Ive hosted a property in Madison since 2016 but the regulations are not ideal. Milwaukee seems to have fairly favorable regulations, and there are definitely spots in the city with potential.

From what I have found, most lake homes all over the state have a lot of potential for good revenue as well. I think vacationers are looking for any rural getaway.

I am hoping to purchase an STR property in the next 12 months and also possibly cohost for other investors. Hoping to find a secluded gem that could be an STR year round.

If you are curious about the AirDNA data I’m happy to share.

Best of luck in your search.

Adam

Brand new here as well.  I attended the last meet up and got a lot out of it.  I will try to make it tomorrow, but may have a scheduling conflict.

Hi, I'm brand new to biggerpockets and would love to partake in the walk through.  Please let me know if you need to RSVP or just show up.  
Thanks!

Adam