All Forum Posts by: Gururaj Iyer

@Gururaj Iyer Thank you! They both offer very different analytics. Have you had any experience comparing the two. Thank you for the help!

Hey Robin (and others on this Pocono Related thread). 
My wife and I are brand new to the STR space. We live in NYC and wanted a place that our family could easily escape to but that would also hopefully rent out frequently enough to cover the expenses. We didn't need the house to make a huge profit, just pay for itself.

I’m happy to say that while we’re still learning, our home is performing well. 
we bought in March, cleaned and decorated etc and launched our rental program with Evolve in May (5/24/19). We used the house the WHOLE month of August and we’ve still had 84 nights booked. 
it was booked every weekend September - November. December only has two rentals and we’re using it for Christmas-New Year’s holiday (which is peak rental $$). 

For reference we bought a 4/2 in Big Bass Lake (aesthetically it’s looks like a cabin and we went with a modern, Scandinavian design approach, though the bathrooms and kitchens are still original). We are on 1 acre and a 6 minute walk to the lake/beach. The house is 1600sq ft and we paid $110k for it. 

Big Bass Lake is a little further from NYC than I'd prefer and there are more lavish amenity filled communities in the region, but we have been pleasantly surprised with our STR performance.

For those more seasoned with STR’s is this just beginners luck? We’re averaging $220/night. 

Hopefully this gives some added perspective to the conversation. 

I posted about this the other day in response to someone else’s question:

I've spoken to a few STR investors in the Poconos & here's some things they've warned me about:

1) Super low occupancy rates: you can rent for full weeks in summer but that's your only real guarantee. If you're super close to one of the ski resorts you can also rent for winter weekends (though the ski season has been getting shorter recently). Fall & spring are apparently super tough - very low demand - both weekends & weekdays. 75 annual rental days is considered good in the Poconos and 100 is considered excellent (so 20-25% annual occupancy). Compare that with Gatlinburg, TN & Florida spots that get 80+% occupancy year-round

2) Apparently there's a shortage of good cleaners in the Poconos. I've had numerous Poconos Airbnb owners tell me this shortage of quality labor is causing real problems.

3) Expenses can run high, which is a real problem with only 20-25% annual occupancy rates to produce income. Very high power bills, increasing property taxes, costly HOA fees, snow removal costs, hotel tax, septic & well maintenance costs, etc, etc

4) Perhaps most damning is this: I've talked to quite a few Poconos investors who are looking to sell after only 1 or 2 years of operating. To me this is a huge red flag. When I talk to STR investors in Pigeon Forge or across Florida, they're looking to BUY more STRs not to sell what they own! It worries me that so many Poconos STR owners sell so quickly after buying.