All Forum Posts by: Steven Cornell

I would be hiring people for the cleaning, maintenance, etc. I don't mind the organization side of things in terms of booking, etc. but would not have the ability to physically turn the property over. That is part of the reason I'm not sure it matters as much whether I am in my home market or not - other than the fact that I have greater knowledge of the local market. Unfortunately, from a STR prospective it seems like there is less opportunity based on supply/demand and current home prices in the immediate area.

 Thanks.  I will keep that market in mind.  I'm trying to narrow down some options and do a deeper dive on maybe 2 or 3 of the best potential markets to see which one makes sense to start in.

I'm currently researching the prospect of short term rental markets relatively close to home which is Saratoga County NY. It seems there is a great discrepancy over whether it is smarter to stay local or not for your first rental investment. I am not against LTR but would like a higher cash flow property since my wife and I are already in our early 40's. We have full time professional jobs and children so getting into heavy rehab or flipping is not an option. Popular markets near us appear to be the hudson valley, adirondacks, finger lakes (although it seems STR's are under fire there), and even the cape cod area as we have vacationed there a lot and know the area fairly well. I'm wondering if people had experience in any of these particular markets they could share.