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Updated 5 months ago on . Most recent reply

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Ashley Wong
6
Votes |
6
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Columbus/Tulsa/Huntsville - LTR vs. MTR?

Ashley Wong
Posted

Hello BP community! I'm just starting out and considering the following markets for a potential OOS investment property. Anyone have insight on these being better markets for traditional long term rentals vs. 30 day minimum extended stays / MTRs? Will both strategies work in these markets? What are the tradeoffs to consider? (Note: right now I am not considering STRs).

1/ Columbus, OH

2/ Tulsa, OK

3/ Huntsville, AL

For additional context, my main goal is to invest in a market that allows me to cash flow AND build appreciation over time. Given the uncertain macroeconomic environment, I'd also really like to find a market where multiple investment strategies can be used to mitigate risk should I need to pivot quickly. For example: being able to turn a mid term rental --> traditional long term rental if needed or vice versa, without losing significant cash flow. 

I'm also open to considering other markets that might meet this criteria. Any insight here is greatly appreciated, thanks in advance!

Most Popular Reply

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193
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146
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Lindsay Davis
Agent
  • Real Estate Broker
  • Birmingham, AL
146
Votes |
193
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Lindsay Davis
Agent
  • Real Estate Broker
  • Birmingham, AL
Replied

Hey @Ashley Wong,

I don’t have much insight into Columbus or Tulsa, but I run a turnkey provider in Huntsville and can vouch for the area—for two reasons.

First, Huntsville’s strong demographic headwinds have led to steady and sustainable population growth (+20% in the last decade), while the city’s abundance of high-quality STEM jobs—brought to the area by industry heavyweights like Dynetics, Boeing, FBI, Redstone Arsenal, Blue Origin, and others—have attracted numerous well-heeled millennial renters.

These factors make the city a honeypot for investors looking to strike a balance between cash flow and appreciation potential, and positions Huntsville as a good option for either medium-term or long-term rentals. Generally speaking, however, LTRs command more stable cash flows over time than MTRs or extended stay arrangements, and may be the better (and lower-maintenance) choice for someone just starting out.

  • Lindsay Davis
  • 205-205-4118
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Spartan Invest
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