First-Time Investor - Need all Tips & Tricks!

[Olivia Cannizzo]

Hey all - I am wanting to invest in real estate - and am also a first-time home buyer. From some research, I think doing a STR would be the best cash flowing asset for me. I have about $80k saved right now - will have $100k or so in next few months.

Are there specific areas I should be looking in? Probably won't put all cash down and would put 20% down on something - if that was the best option. Was looking into Kalispell/Columbia Falls, MT due to Glacier traffic, Finger Lakes area (Watkins Glen, Burdett) - but seems like it wouldn't pay off in winter. Any ideas out there - places I should look, things I should be thinking about?? 

[Stephanie Jacobson]

Quote from @Olivia Cannizzo:

Hey all - I am wanting to invest in real estate - and am also a first-time home buyer. From some research, I think doing a STR would be the best cash flowing asset for me. I have about $80k saved right now - will have $100k or so in next few months.

Are there specific areas I should be looking in? Probably won't put all cash down and would put 20% down on something - if that was the best option. Was looking into Kalispell/Columbia Falls, MT due to Glacier traffic, Finger Lakes area (Watkins Glen, Burdett) - but seems like it wouldn't pay off in winter. Any ideas out there - places I should look, things I should be thinking about?? 

Watkins is lovely, but it's essentially impossible to set up a new Airbnb there, thanks to their new restrictions. I have a few clients who buy around Watkins, though, or my favorite location, between Watkins and Ithaca on either lake. This is more Burdett, Hector, Ovid, Trumansburg. Actually, Trumansburg has become my favorite area for a finger lakes STR!

I'd be thrilled to help, feel free to reach out!