SLC-Provo Medium Term Rental Potential

[Mark McGraw]

Hello,

I am new to the investment property market and wanted to see if my investment property goals were stainable and if I could get some questions answered. I live on the east coast and hope to buy an investment property in the SLC-Provo area, specifically the Draper and Lehi areas. My goal is to at least break even with my property and am prioritizing appreciation over cash flow. Optimally I would love to be able to use the property for a month or two per year. Initially I was interested in short term rentals but after researching and hearing about restrictions in the area, I believe medium term rental might be a better option (or possibly a combination). Is there a market for MTRs in these areas? Am I correct to assume the risk is not worth it to rely on STRs in these areas? Are there PMs that do both STRs and MTRs? Are there other avenues of research that I should pursue to see if my plan would work? Let me know if anyone has answers or thoughts. Thanks in advance! 

-Mark McGraw 

[James Carlson]

@Mark McGraw

Love the SLC-Provo area. Reminds me a bit of where were work in Denver and Colorado Springs. And because of that, I'm guessing there is strong demand there for medium-term rentals. 

I could spout off about MTRs, but @Erin Spradlin might be a good resource. She's got a lot of YouTube videos about midterm rentals and does consulting with new MTR buyers.