Hello BP Community! This is my first post, although I have been an active podcast listener and forum reader for over a year. After feeling as if I have done my due diligence and am financially ready to jump in and actually invest, I have been researching different opportunities and areas for investment. As everyone knows, investing locally in Colorado (especially Denver) is proving difficult, even for experienced investors, so unfortunately I've realized I may need to invest elsewhere. I have been generating a "short list" of different markets of interest, and one of the areas that seems promising for short term rentals is Branson, MO. It's proximity to Silver Dollar Theme Park lends itself to seemingly high vacation rental demands in peak seasons.
Does anyone have experience investing in the Branson area? If so, what works or doesn't work for you there in terms of property types? The market seems somewhat saturated with vacation rentals, however I have heard that people are still seeing substantial cash flow from properties there (and it seems that most properties I've looked at on VRBO are pretty much booked up!). Does anyone have any recommendations for property managers and/or real estate agents in the Branson area? I'm thinking it may be too late in the busy summer season to find and close on a property, so would it be to my advantage to wait until early next spring to purchase?
Additionally, what are your thoughts on doing a vacation rental as your first investment property? My thought is the cash flow may be better than long term rentals, providing me with a mechanism to more easily role into a second or a third property. I am concerned though about vacancies and potential issues with finding decent property management.
Thanks for taking the time to read my post. Looking forward to getting more involved in the BP community.
