All Forum Posts by: Melissa Wesling

Quote from @Peter Brown:

Quote from @Melissa Wesling:

My Michigan properties did better than my Florida property and that can be for a variety of reasons. I'll reach out to you and would be happy to look into different STR markets.

 Interesting. Where do you own in Michigan and is there much of a shoulder season there?  Any winter bookings?

Hi Peter! We are in southwest Michigan on Lake Michigan, but there are many shoreline towns along the lake that do well! We used to be a primarily summer season, but we will have weekly or weekend bookings in the spring and fall now and even some winter bookings for family holidays, etc. There are many breweries/wineries, and apple/cherry/blueberry picking in the area that pull in visitors, so there is more to do than then beach :)  
Northern Michigan is great too because there's skiing and winter activities making it more of a year-round destination.  

My Michigan properties did better than my Florida property and that can be for a variety of reasons. I'll reach out to you and would be happy to look into different STR markets.

If you want to invest in STRs to build equity or cash flow, but aren't sure which market to look into, I am happy to discuss!  

Hi Matthew! Have you looked at the Florida markets?  I have vacation rental properties in MI but recently expanded to the FL panhandle because we found it feels much more rental friendly there.  Of course some of the beach markets have a 30 day minimum, so it is important to pay attention to the regulations and zoning.  Typically you can find information about short-term rental regulations on a city government website.  
Additionally, the top markets clients I work with invested in last year were: Kissimmee, FL; Destin, FL; Cape Coral, FL; Branson, MO; and Poconos, PA.  This year so far our top markets seem to be Western NC, Carolina beaches, and Destin/PCB.
Reach out if you want to talk more! 

Hi Kyler! I invest in short-term rentals in southwest Michigan.  Welcome and best of luck to you!! 

Hi Danielle! I recently bought a property in Panama City Beach, FL.  The panhandle is a great drive-to (and fly-to) destination. Start by looking into some areas that you like to vacation.
There are many rental friendly markets in Florida and the best market for you will depend on your investment goals.  Destin, Cape Coral, and Kissimmee were the top Florida markets our clients invested in last year. Happy to discuss further!  

Hello!  I'm an investor in the Emerald Coast.  Happy to discuss more about our services as well.  Wishing you much success in 2022. 

Hi Denise! Location, amenities, and attractions are a great start for researching short-term vacation rental properties. The travel demand has been trending to rural/rustic/scenic locations.  Find a good realtor who knows the sweet spot in the area and understands the rental regulations to help you find the right property.  Let me know if you want to talk more about investment strategy! Best of luck in the new year. 

Hi Trevor, when you look into the STR markets, be sure to research the short-term rental regulations. Breckenridge has some new regulations and Tahoe is pretty strict as well. I know those were just examples, but I wanted to mention it. PM me if you'd like to discuss rental friendly markets.
We own short-term and long-term rentals.  For us, the long-term rentals are passive.  The STRs require much more time from a property management perspective, but also have higher returns. Wishing you success in the new year!   

Originally posted by @Joshua Strickland:

Originally posted by @Sastry Srini:

Surprised Orlando does not show up on top 25.. Any thoughts?

This study looks to be based off 2020 data. The theme parks were shut down for large portions so demand was super low. It will show back up when they put out their 2022 numbers.

Also their are a lot of these lists online. Evolve, TripAdvisor, Airdna all put them out and they are all different, but do have a lot off carry over places.
 

Exactly.  Rented/Weiss Analytics just released their top 100 vacation rental markets for 2021 and the top 5 were:
1. Pensacola, FL 
2. Pigeon Forge, TN
3. Virginia Beach, VA (which has new regulations)
4. Corpus Christi, TX
5. Daytona Beach, FL 
They highlighted the Gulf Coast, Smoky Mountains, and Texas. How they determined the rankings: 
"We focus on the top US markets and compare the cost of home ownership, short-term
revenue potential, the cost to acquire property, and annual appreciation as well as projected
changes in asset value."