All Forum Posts by: Melissa Wesling

@Gagandeep Singh There are definitely some great areas for STR near the Poconos. I can connect you with an agent who will help you analyze potential properties there. I'll send you a colleague request!

Yes Pigeon Forge and Gatlinburg definitely have figured it out already.  Branson's vibe is a little different than the Smokies, so each market provides a unique vacation experience. The folks around Table Rock Lake seem to have it all with both the nature amenity and entertainment nearby. 

@Nicholas Kutsch Thank you so much :) Wishing success to you and all investors here on BP!

I would only shop in the areas where STRs are allowed.  Depending on the area, HOAs in general are tough because the by laws on rental minimums can change.  Be sure to work with a realtor who knows the short-term rental rules and regulations in the area.  You can also look on the city's government website (or call them) to find the short-term rental regulations/zones.  It is usually under "Planning or Zoning."  If a market already has some regulations in place, that can actually be a good thing because it means they've already evaluated the concerns and put some rules in place.  One important regulation to look for is if there is a cap on the number of short-term rentals in the area, find out how many permits are still available.  

It is frustrating for investors right now who are looking in markets with high demand and low inventory.  Have you looked at Branson, MO? This market has become very popular and is seeing positive cash flow. 

Thank you Lauren! Unfortunately the save function is not yet available on the Vrolio pro forma, but investors find that taking a screen shot of their spreadsheet is helpful. 

Yes, I agree, check with the competition.  In my market, it is pretty standard to have a 7 night minimum throughout the summer high season and then we'll have a two or three night minimum depending on holidays, etc.

Hi Nicholas! Thanks for connecting! 

Hi Thomas! I'm not an owner here but have seen some recent numbers for potential vacation rental properties in this area and the projections are good! 5+ bedroom is a good choice as the Disney area draws in multigenerational guests. You can play around with pro forma tools to find your break even or estimated gross. Of course this will vary depending on the property.  I'll send you a colleague request in case you'd like more information! 

Gulf Shores, AL is pretty STR friendly. Their city government website has information on short-term rentals and how to register for rental licenses/permits.