Seeking Advice on Next Steps for My Real Estate Focus

[Leon Lee]

Hi BP Nation!

I currently have 20+ units that serve short-term, mid-term, and long-term rentals. As I look ahead to the next 5 to 10 years, I’m at a crossroads and could really use some advice from this knowledgeable community.

I have two potential paths I’m considering:

1. Continue Focusing on Short-Term Rentals (STR):

• My plan is to shift towards mid- to high-end vacation rentals with unique characteristics. I’ve been successful with Airbnbs and love the creative aspect of designing unique and appealing spaces. However, the saturation of the market seems to worry me a little. Also, trying to have a hands-free airbnb business seems to be especially hard. 

2. Team Up with Experienced Apartment Syndicators:

• This option involves partnering with a small group of experienced apartment syndicators to focus on acquiring and managing apartment buildings. The scale of economy in this route is very appealing and offers a different kind of stability and growth potential.

I’m equally interested in both options. On one hand, Airbnb allows me to leverage my passion for unique design. On the other hand, apartment syndication offers substantial economies of scale, which seems to be a common transition for many real estate investors, as I’ve heard on numerous podcasts.

I would love to hear your thoughts on which route you think I should pursue and why. Any insights, experiences, or advice would be greatly appreciated.

Thanks in advance!

Lee