Issue #55 - Brandon Cobb, The House Buyin Guys | Page 105

Hochatown is approximately 95 % luxury investment cabins that are occupied by residents from Texas , Oklahoma , Arkansas , and Louisiana that flock here YEAR­ROUND . That ’ s right , there is not a down season ! VRBO ’ s travel trend report projects that the Broken Bow / Beavers Bend State Park lake-area tourism grew 50 % in 2020 .
If you have never heard of Broken Bow , Oklahoma , your first question is going to be why the heck would anybody want to invest in this remote area ? The answer is Broken Bow Lake is one of the most gorgeous lakes in the country . Its pristine natural shorelines are not riddled with boat docks and lake houses . Ten years ago , this lake was a hidden gem of a secret for the locals to enjoy . This lake is crystal clear and provides some of the best fishing in the country . The lower Mountain Fork River feeds off the lake has some of the best fly­fishing in the world .
Believe it or not , most people never even see the lake when they rent a cabin . They ’ re too busy hiking some of the most gorgeous trails in the state park , hitting up the local breweries and wineries , roasting S ’ mores on the campfire , renting ATVs , horseback riding , kayaking or canoeing on the river , grilling out on the porch , and hitting the hot tub !
The Choctaw Nation has recently purchased 700 acres here in Hochatown and they will be building a family-friendly casino right here amongst these luxury cabins . This casino is going to draw so many more visitors to the area that have not heard about Broken Bow .
It ’ s rumored to believe that only 50 % of the DFW metroplex is aware of Broken Bow . There are more than 7 million people in DFW and Broken Bow is growing in correlation with the growth of DFW . There is certainly a buzz in Texas about Broken Bow , and in my opinion , there are not near enough cabins in the area to support the demand of people that want to vacation here .
Even during this COVID crisis , all the cabins here are full of people “ sheltering ” at a cabin . And there has been no slowdown of investors inquiring about investing in Broken Bow either .
The question I get asked the most often is which is the best size , price , and type of cabin for an investment ? There is not a good answer to that question . One­bedroom cabins are booked more nights per year , but at a lesser nightly rate . The big cabins that sleep 25 to 30 people are booked less nights per year but at a much higher rate , up to $ 2,000 a night !
Image by Greg Montani from Pixabay
If managed properly every cabin in Broken Bow can be paid off in 8 to 10 years . So , would you rather have a $ 300,000 one bedroom or a $ 1.5 million cabin paid off in 8­10 years ?
Every single cabin here pays for itself every … single ... month . Some months , like February and April , can be a little slow , but this year they have not been at all ! Each year this area is growing more and that means more net profits , even in what used to be known as the slow months . Cabins are booked every single weekend , every holiday , and every time school is out of session , I encourage all cabin owners to raise their nightly rates 10­30 %.
Both of my two­bedroom , twobath cabins that have a loft , both sleep eight or nine people , and are booked 18 days a month on average year­round . June and July are the busiest months of the year . Both of my cabins were booked solid in the summer months except for the rare times of a one­night opening between bookings .