All Forum Posts by: Michael Porche

@Michael Porche absolutely, reach out and we can discuss :)

@Michael Porche What have you found with Idaho markets? I live in Spokane and am looking to move to Boise. I'd like to buy an SRT semi-close to home but I'm having a hard time making the numbers work. Have you had a similar experience? 

I agree with the majority of what @Chase Hoover said, Virginia may never be the hottest market in the country but there are a lot of great assets to be had , just have to know the correct submarkets of the Shenandoah area since it is so large.  1.765M visitors to the the SNP on average since 1962; not a bad track record, especially as DC/NOVA populations continue to grow.

Florida is a great market, we have several locations across the state that are doing great.

We have a lot of AirBnBs in our market here in NW Arkansas. Bella Vista has over 250 miles of mountain bike trails so we have lots of visitors just for that. Then we also have the University of Arkansas in Fayetteville, there are a lot that are filled during football and basketball season. The only downside is a lot of the local municipalities are starting to limit how many STR can be in each city etc.

Add the Mississippi Gulf Coast to that list.  Our prices are lower than any on your list Michael.  We have 12 casinos and lots of beaches.  The area is conservative and most cities permit vacation rentals.  I regularly help people find properties that will meet their financial needs.  Our prices are going up as and interest rates are up as well.  This is putting some strain on an investor's ability to buy a property and use it 100% as a vacation rental.  The market for vacation homes that are rented when the owners are not in residence is good and they can make financial sense.

I recently purchased two 10-year-old houses within walking distance of the beach for $127k each.  Turned them into vacation rentals and they are generating great income.  I sold a rehabbed house a little further from the beach but close to clients who converted it to a vacation rental, and they paid $198,000.  They told me it is getting good rental traffic.  Just some things to consider.

@Michael Porche

I would be careful of Shenandoah Virginia - having invested there pre covid people couldn’t give properties away in that area. From 2008-2018 real estate was awful. You could buy condos for $25k (which we did).

I do not believe that market for STR's is sustainable.