Fresh to the game! distant STR vs local LTR

[Matthew Lusson]

Just starting out, have been listening to countless podcast, reading other posts. I am gathering a lot of information, but trying to figure out which path to start on. My wife and I have thought about buying a vacation home in the gulf or Florida. Just not sure whether a long distance STR would be a good start for our real estate investing. On the other hand we live in Illinois and would we be better off starting out investing in either single family/multi family LTR? Basically trying to sort out some of my thoughts and searching for input from experienced individuals.

[Josh Maier]

Whether you decide to run a STR or a LTR from a distance the same initial principles apply. Establishing a solid team is the most important factor. Especially from a distance having vendors/RE agent/PM/ ETC that you can trust and can build a strong working relationship with, will pay dividends for you down the road. Like Karl stated earlier the way you run a STR and LTR differ but there are really great softwares and people boots on ground you can team up with to make it succesful!