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Updated 5 months ago on . Most recent reply

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Marc Shin
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Purchasing first investment property

Marc Shin
Posted

Hello. I'm under contract for my first investment property. It's a duplex. The closing date is 10/04. My plan is to self-manage the property and rent out the duplex as an STR. Are there any books or articles that I can read on what next steps i need to take in being an STR property manager and also how to get the property rent ready? I will need to do some minor updates to the property (painting, updating bathroom tiling, updating trims, etc) in order to get the property rent ready. I have no idea where to start. Any suggestions would be appreciated!

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Jonathan Greene
#5 Starting Out Contributor
  • Real Estate Consultant
  • Mendham, NJ
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Jonathan Greene
#5 Starting Out Contributor
  • Real Estate Consultant
  • Mendham, NJ
Replied

I would connect with @James Hwang about this. He does more MTR, but has STR in multis and knows every strategy in the book for you to do this well and not botch it on your first one. He may even convince you MTR might be a better strategy in 1 of the units as a hedge. STR you will spend more on design and furniture than MTR.

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