Quote from @Sarah Kensinger:
I'm still trying to figure out why SOME people think the STR market has tanked. I'm surrounded by hundreds of STR operators that think otherwise.
I'm not either. I'm about on par with the AirDna estimates I ran when I bought at the start of 2022. With thousands of investors flock into the same small handful of hyper-competitive markets its no wonder that those markets will struggle, especially for those who bought in late. Meanwhile they ignore regional markets that have huge upside potential because they follow the herd instead of skating to where the puck is going. I love seeing neighboring properties close to where I want to buy with bad photos, average mismatched furniture and decor yet well occupied calendars. Shows me that with a bit more effort and good service I can easily surpass them.
Some of the prevailing advice may not have been great in hindsight and in the context of too many investors piling in, but at the end of the day we are all adults who should do our own DD.