158: The 5 Most Profitable Places to Buy a Vacation Rental Property w/Vacasa’s Daned Kirkham

On The Market

BiggerPockets

News, Education, Business, Investing

4.8 • 859 Ratings

🗓️ 10 November 2023

⏱️ 32 minutes

🔗️ Recording | iTunes | RSS

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Summary

Today, we’re sharing the five best vacation rental markets that’ll make you more money than anywhere else in the US. The best news? More than half of the markets on this list have vacation homes either under or around the median home price of the US, so you don’t need to splurge to buy your perfect beach-side short-term rental. What are the markets, and why have you probably never heard of them? Tune in; we’ll give you the top five markets AND where to find the full twenty-five market list! But before we take any credit, this list comes from our friends at Vacasa, and their own Daned Kirkham is on the show to walk us through it. Daned and his team go through tens of thousands of data points, from average nightly revenue to insurance costs, expenses, improvements, average home prices, and more, to come up with a definitive list of vacation rental markets that’ll give you the best bang for your buck. This list even has markets where you can find cap rates OVER ten percent (yes, in 2023), so if you’re starving for some short-term rental cash flow, THESE are the markets you can’t afford to overlook. In This Episode We Cover: 2023’s five best short-term rental markets in the United States Why young real estate investors are forgoing primary residences and buying vacation rentals instead Cap rates explained and the methodology behind ranking these top tourist cities The tiny beach town that has an explosive population of tourists The ten percent cap rate lake city with affordable vacation home prices And So Much More! Links from the Show Find an Agent Find a Lender BiggerPockets Forums BiggerPockets Agent BiggerPockets Bootcamps Join BiggerPockets for FREE On The Market Join the Future of Real Estate Investing with Fundrise Connect with Other Investors in the “On The Market” Forums Subscribe to The “On The Market” YouTube Channel Dave's BiggerPockets Profile Dave's Instagram Facing Strict Short-Term Rules, Airbnb Shifts to a New Type of “Host” w/Airbnb’s Jesse Stein How to Buy a Vacation Rental Property Check Out the Vacasa Lists: Top 25 Best Places to Buy a Vacation Home Best places to buy a beach house 2023 8 best mountain biking towns Connect with Daned: Vacasa Daned's LinkedIn Click here to listen to the full episode: https://www.biggerpockets.com/blog/on-the-market-158 Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email advertise@biggerpockets.com. Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0	wondering where the Bigger Pockets community gets the best rental property insurance, start at
0:05.4	Steadily.com. Steadily landlord insurance protects against property damage, loss of rental
0:09.8	income, and liability claims. With lightning fast quotes, superior coverage, and a team that
0:14.6	understands real estate investors' unique needs, they've got you covered. Go to steadily.com
0:19.5	for an instant quote now. Visit biggerpockets.com
0:22.3	slash landlord insurance and protect your rentals with steadily insurance. Steadily insurance,
0:27.5	founded by landlords for landlords. Do you ever feel like your vacation rentals since MT too often?
0:33.2	Missing out on potential income? Look, you're not alone. Many property owners struggle with
0:36.9	underperforming bookings and the complexities of property management. But here's some good news.
0:41.1	Vacasa outperforms other property managers in 92% of the markets they operate. They've
0:46.9	held homeowners like you increase their bookings by an average of 24% turning those empty
0:51.7	days into profitable opportunities. Want to see what your earnings could look like with Vacasa?
0:56.4	Visit BiggerPockets.com slash Vakasa, spelled V-A-C-A-C-A-S-A, and get a free personalized income estimate today.
1:03.8	That's BiggerPockets.com slash Vakasa.
1:07.0	This podcast is brought to you by Progressive Insurance, Fiscally Responsible, Financial Geniuses, Monetary Magicians.
1:14.0	These are the things people say about drivers who switch their car insurance to Progressive and Save Hundreds.
1:18.5	Visit Progressive.com to see if you could save.
1:21.1	Progressive Casualty Insurance Company and affiliates.
1:22.7	Potential savings will vary.
1:23.6	Not available in all states or situations.
1:32.8	Thank you. Not available in all states or situations. Hey, everyone.
1:33.8	Welcome to On the Market.
	...

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