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Updated about 3 years ago on . Most recent reply

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14
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8
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Bryce Clark
  • Rental Property Investor
  • Rochester Hills, MI
8
Votes |
14
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Need to spend $4 Mil on STRs ASAP

Bryce Clark
  • Rental Property Investor
  • Rochester Hills, MI
Posted

An investor friend is selling his business and will have around $4 million to acquire properties, mostly limited to Opportunity Zones. Obviously a tax deferral + investment play. It will all be invested in STR with the aim to refinance next year and do it again. I am brought in to locate, set up, and remotely manage.

We have a few ideas and options, but how would you start? Which market(s) would you go in?

Looking forward to connecting with more people as well. So many great things have come from networking here on BP!

Most Popular Reply

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4,236
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Luke Carl
#3 Short-Term & Vacation Rental Discussions Contributor
  • Rental Property Investor
  • Tennessee Florida
5,686
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4,236
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Luke Carl
#3 Short-Term & Vacation Rental Discussions Contributor
  • Rental Property Investor
  • Tennessee Florida
Replied

If I had 4 mil to do this I’d want to give it to someone that didn’t have to ask these questions. 

Why opportunity zones? What you need to look for are vacation zones.

Search this forum. Read everything. 

I would recommend your friend put that money into syndications and maybe give a small chunk to you. 

Of course it’s highly likely I’m missing something and you’re extremely experienced. Just seems if that was the case you wouldn’t have to ask something as simple as what market. 

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