875: BiggerNews: Top “Snowbird” Rental Markets with Year-Round Cash Flow w/Kristen Taylor

BiggerPockets Real Estate Podcast

BiggerPockets

Education, Investing, Business

4.8 • 16.6K Ratings

🗓️ 19 January 2024

⏱️ 41 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

Snowbird season is coming to THESE real estate markets. Every winter, millions of freezing northerners go south, seeking a temporary escape from the cold and to dethaw themselves before returning in spring. And while you may think that most of these destinations are expensive cities, like Miami, there are some cheaper areas that make not only perfect snowbird rental markets, but profitable year-round short-term rental markets as well. On this BiggerNews, Vacasa’s Kristen Taylor joins us to give her take on the markets with the most demand and the once-popular markets starting to see declines, including a top-rated tourist destination you wouldn’t expect. Kristen shares updated numbers on how long snowbird season lasts, how the typical snowbird is changing, and why snowbird markets can be MUCH more affordable than year-round vacation destinations. And if you’ve got equity in one of YOUR properties that you’d like to turn into snowbird rental property, stick around until the end. This episode’s Seeing Greene segment will answer the age-old question: what do I do with all my home equity? In This Episode We Cover: Snowbird season explained, how long it lasts, and who’s flying south The top snowbird markets in America (and why some are MUCH cheaper than you’d expect) Snowbird markets to stay away from that are seeing declining vacation populations Combining medium-term and short-term stays to make money the entire YEAR (unlike many short-term rentals) What to do with a property with a LOT of home equity: sell, get a HELOC, refinance, or keep it? And So Much More! Links from the Show Find an Agent Find a Lender BiggerPockets Youtube Channel BiggerPockets Forums BiggerPockets Pro Membership BiggerPockets Bookstore BiggerPockets Bootcamps BiggerPockets Podcast BiggerPockets Merch Listen to All Your Favorite BiggerPockets Podcasts in One Place Learn About Real Estate, The Housing Market, and Money Management with The BiggerPockets Podcasts Get More Deals Done with The BiggerPockets Investing Tools Find a BiggerPockets Real Estate Meetup in Your Area Expand Your Investing Knowledge With the BiggerPockets Books Be a Guest on the BiggerPockets Podcast Ask David Your Question David's BiggerPockets Profile David's Instagram Dave's BiggerPockets Profile Dave's Instagram Join the BiggerPockets Virtual Summit Check Out Dave On the “On the Market” Podcast 8 best Florida snowbird destinations Book Mentioned in the Show Start with Strategy by Dave Meyer Long-Distance Real Estate Investing by David Greene Connect with Kristen Kristen's LinkedIn Click here to listen to the full episode: https://www.biggerpockets.com/blog/real-estate-875 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

Click on a timestamp to play from that location

0:00.0	This is the BiggerPockets Podcast Show 875.
0:04.4	What's going on everyone?
0:05.3	This is David Green, your host of The BiggerPockets Podcast.
0:08.3	Today we're bringing you a Bigger News episode
0:10.3	and I'm joined with Dave Meyer, the man himself on the bigger news show. We cover the news data and economics impacting the real estate industry.
0:18.0	Dave, tell us about the show that we're in store for today.
0:21.0	Well, today we are talking to Kristen Taylor.
0:24.2	She is the vice president of operations at Vakasa.
0:27.5	They are a big short-term rental property management company.
0:31.5	And they have some research they have done that they're going to share with us about
0:35.0	snowbird markets. For those of you who don't know, snowbirding is when
0:39.9	someone migrates from a colder market like New York, the Northeast, the Midwest, to a warmer
0:45.5	one like Florida or Texas during the winter months.
0:49.5	And investors should pay attention to this because it impacts demand for short-term rentals or
0:56.1	medium-term rentals as well because a lot of these are longer stays and so where
1:00.2	these people are going for snowboarding could be potentially great places to invest.
1:05.6	And make sure to listen all the way to the end of today's show
1:08.0	where we have an incredible scene green segment for you.
1:10.5	Dave and I get into a gentleman who's got a great problem.
1:13.4	He's got a property with a ton of equity, but it's not cash-flowing as much as it used to be.
1:17.2	It's a short-term rental in the snow, and we get into what options he's got and
1:21.6	how he should execute his transition.
	...

Please login to see the full transcript.

Previous episode | Next episode

Disclaimer: The podcast and artwork embedded on this page are from BiggerPockets, and are the property of its owner and not affiliated with or endorsed by Tapesearch.

Generated transcripts are the property of BiggerPockets and are distributed freely under the Fair Use doctrine. Transcripts generated by Tapesearch are not guaranteed to be accurate.