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Updated over 2 years ago,
Seeking advice on MF portfolio addition - for Mid-Term Rentals
Hello All,
I recently secured a single family house for a Short Term Rental in the Poconos and now want to diversify my portfolio with least a duplex (or bigger) to be marketed for Mid-Term Rentals.
My ideal geographical regions would be the tri-state area of NY/NJ/CT. However, I am open to other regions that would make sense financially. I have done the research on which geographical areas have high demand for travelling professionals.
I need help with 2 critical items: (i) Seasoned real estate agents familiar with multi-family investing and understanding mid-term rental marketplace and (ii) Funding (as my cash reserves are tied up in other investments). I am aware of DSCR loans, but would love to pick brains on all funding. For example - Is SBA funding viable?
The timeframe to execute would be within the next 2 months.
The objective of this post is to garner the attention of the right person(s) from the BP family for this exploration - as the opinions from community mean a lot to me!
TIA!