STR being outside US

[Guillermo P Manso]

Hi everyone,

For those who don't know me, I live in Spain and am looking for markets where I can buy a short-term rental (STR) property and occasionally stay in the apartment myself.

Since I live in Europe, the most interesting states for me, considering taxes, market growth, expenses, direct flights, and shorter travel times, are:

• Florida

• New York

• Texas

• Georgia (Atlanta)

Which of these states do you think would be the best for this kind of investment? I’m looking for a small apartment/condo under $200k with manageable expenses and good profitability.

[Michael Dumler]

@Guillermo P Manso, I would be cautious and considerate about investing in short-term rentals across seas. There are so many variables here that it's difficult for me to decide where even to begin. First and foremost, your budget of $200k will likely be tight, respectively. While I'm not well-versed in the market of New York, I think it's fair to say you're not going to find anything within your budget there. Moreover, you mentioned that tax consideration is important to you, yet New York and Texas have some of the highest property taxes relative to other states.

Furthermore, it's vital that you are knowledgeable about local ordinances and HOAs regarding short-term restrictions/bans. The last thing you want is to source a deal that looks great on paper only to find out after acquiring it that the HOA bylaws do not permit short-term rentals.

I hope this clarifies your strategy a little! Based on your criteria, I think it's fair to say that you should at least narrow your search down to Florida or Georgia. After conducting further research, I highly recommend visiting the respective area to get a feel for the market once you decide on one. Many markets, including Atlanta, can vary block by block; hence, it is advised to visit first.