All Forum Posts by: Paul Wolfson

I did just that and see a 10% tax being collected however it doesn't specify what that tax consists of. I don't believe the transient occupancy tax is included in that. I spoke with a local STR management company and was told that they are manually calculating the TOT tax and paying it quarterly to the county. This backs up what my link above from Airbnb shows as well.

 Sean, regarding your question on the 10% occupancy tax, I do not see Three Rivers or Tulare County listed on Airbnb's website (Occupancy tax collection and remittance by Airbnb in California). See below. So I don't believe they are collecting the transient occupancy tax on your behalf. Please correct me if I'm wrong.

Occupancy tax collection

@Valerie Budd where are the new developments located? I’d like to take a deeper look at the 4 bedroom house?

@William Beck thank you for your concise response, that’s great info. Do you know if there is much demand for 4-bedroom cabins there? As I see that 90% of the market is 2/2 condos. 

Hello. I've been doing research and have determined that all of Lake Tahoe (which includes multiple counties/regions) have place cap limits on the number of allowed STRs. The only region that has not yet reached the cap limit is North/West shore. Can anyone in the area confirm this?

Would love to connect with a local real estate agent in the area.

Thank you.

@Michael Baum I got the daily rate from AirDNA using the ENEMY method that was mentioned by @Luke Carl 

I looked only at listings that had 300+ days available on AirDNA and made sure they had at least 20+ reviews. I took their average rate which came to about $158. Which is actually higher than the current rates I'm seeing directly on AirBnb website.

The Occupancy rate was confirmed to be about accurate. This forum has a few posts with people saying their units were rented out 160-175 days in the last year. AirDNA says 52% is the average occupancy.

@John Underwood I've only looked at condos because it seems 90% of all listings on AirBNB are these condos in Branson. I usually avoid condos but it seems to be this market's most popular listing type. Perhaps I'm wrong?

I am having a hard time figuring out how folks are able to achieve decent cash-flow in Branson, MO as my numbers are not penciling out. 

Yet I am seeing a lot of short term rentals in this market -- 4,184 as of today according to AirDNA. So perhaps I'm missing something? 

My assumptions are below. I'd appreciate any help if I'm missing something.

Assumptions

Branson consists of a majority of 2/2 condo/townhouse units. 

According to a local real estate agent, I was told condos at the Point Royale Golf Village have the below (COA, POA, Golf) fees.

Purchase Price: $200,000

Down Payment: 10%

Interest Rate: 6.5%

Principal + Interest +Tax + Insurance: $1,421

PMI: $100

COA Fee: $209/mo

POA Fee: ($1,500/yr) = $125/mo

Golf Fee: ($700/yr) = $58/mo

Utilities: $250

Cleaning Fee: $600

Internet: $60

Misc: $270

Total Expenses: $2,996/mo

Total Revenue: $2,500/mo based on 50% occupancy rate and $158 average daily rate.

Result: -$500/mo

@Mack Lengel most folks on here are investors...and do not have a background in either hospitality nor are they institutional smart-money with unlimited capital. With that said, due to limited funding, the majority of investors will have an average design / layout /furnishings, as well as average level of hospitality. As much as one may aspire to offer the best STR property on the market, the law of averages suggests that the majority will fall somewhere along the bell curve distribution.

@Scott K. I’m not too familiar with your market and when I type in Poconos, PA in Zillow nothing comes up. Is there a specific city I can look at to see what you are referring to?