Looking to dive into short term rentals. Advice?

[Susan Walker]

My husband and I have built a real estate portfolio over the past 25 years for a long term buy and hold. We are happy with it and now are considering to dive into short term rentals. Advice?

[Jason Wray]

Susan,

So many locations to choose from it can be hard to start but if your state/city has a high number of tourism even majority of the year it can be a great balance. I am here in Florida and over the last few years it has spiked through the roof. Highest rents during and right after Covid which caused a rush by many investors to flock to our market.

Seasonal rentals are good if you are in a cold area and you want to use it for both income and personal use a few times out of the year. Nothing better than packing up some of your personal items when it's cold and snowing and head down to a "Free" vacation rental stay in warmer weather.

One good thing is if you finance them out of state you can use the Second Home/Vacation home to save on the 10% down payment. Whichever STR agency you are going to use study the laws and regulations, as well as taxes and fee's for AirBNB/VRBO or other. Lastly do not over think it if you feel it's a good move don't second guess it take the leap.