Vermont Airbnb investment
I’m thinking of buying a property close to ski resorts in Vermont. It seems like during the ski/foliage season the rates are high per night. Does anyone have any experience investing in Vermont? Are there any caveats? Is there any preference on the mountain/region? #personalfinance #investments
Agree on this. For us it was not worth the hassle. I think it could be worth it for the right situation but renting it out is for sure the easier money.
With the current prices, it’s not easy to get cash flow positive with renting. Is it? Are there some specific cities you are looking at?
I have experience living there. Costs are high per night, because occupancy probably varies dramatically from season to season. Spring thaw is known as mud season, and for good reason. Parts of the summer are notorious for black flies and mosquitoes. I like the mountains in the summer, but it is definitely quieter then. The leaf season in the fall is golden and floats much of the state’s tourism influx. If you are close to the resorts, I imagine Dec-Mar are pretty good. Still, I would go into it expecting a peak season of 3 months if close to a resort, and the rest of the time to be cheap or empty. If you are further out, 1-2 might be all you can really expect. I could be off, since I wasn’t involved in that sort of thing, but I would look into it before jumping in. There are a lot of good choices: Killington and Sugarbush are both good and large resorts but a bit more isolated, which has pros and cons. Bolton Valley and Stowe are close to I-89, and Burlington. I’m less familiar with the resorts in the south, but they are also pretty accessible to NYC, Boston, Connecticut and Rhode Island. Things in Vermont are well spread out to be sure, so I don’t know if there is really any area that is that much better than others, except the northern tier, which is pretty backwater.
Thanks for the extensive response. I have to check the occupancy rate. Apparently there are some websites that estimates the occupancy rate based on address (not sure if they are reliable though). Regarding the location, I was considering Stowe (for the great ski resort) Stratton (closer to NYC and a fine ski resort). I love Killington and Sugarbush but as you mentioned they are too remote and not sure if people would go there other than the ski season
Mexico Tulum is better- Low taxes -Higher $ return- Cleaning crews are very reasonable and lots of cheaper management companies
Interesting! Never thought of that. Do you have properties there? Do you mind sharing how you would find properties? How is the tax situation? How would the cash flow look like?
Sent you some info in DM
Tulum is Hot property market and it’s also expensive. Best way to get in is to buy while it’s being built. Pre sales are happening. Having a property give you an advantage to apply for Mexican Residency and you can hire a lawyer for looking into the paper work for the property. Taxes are low and good returns as builders manage the property for their clients once they are sold. Lots of options to rent them out.
Have you tried being an Airbnb landlord? I helped managed one (even with property management company) with my brother (who since sold the place) and it was hell to deal with. Cleaners not showing up, bedbugs, parties, broken plumbing
I say this as a normal long term landlord too. This shit was 5x worse for twice the stress and barely 50% more profit
Even if you get a property manager? I live far from Vermont and won’t be able to manage myself.