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Updated about 2 years ago,

User Stats

160
Posts
38
Votes
Dakoda Spencer
  • Investor
  • Short Gap, WV
38
Votes |
160
Posts

Considering getting into STRs. Any advice would be appreciated!

Dakoda Spencer
  • Investor
  • Short Gap, WV
Posted

Since 2012, I've been on the sideline watching, learning, and saving to get into real estate investing. I'm 28 yrs old now and finally have some funds saved up and set aside specifically for real estate. Not a huge amount, but what I think it enough to get started. My goal over the next 6-12 months is to finally get into RE investing. I'm a real estate agent for West Virginia and Maryland, and prior to this last week, have only ever really considered LTRs, since STRs aren't popular in my area. About a week ago, I had a meeting with a fellow BP member who really opened my eyes to the STR potential. I've been doing a lot of reading over the last week, and now seem to be learning more towards starting my portfolio with STRs rather than LTRs. The CoC seems to be very appealing, and of course that is important when starting out since my cash reserves is pretty limited. I'm more open to investing out of state now, since my local market is "challenging" to become a full time real estate investor. I know it can be done, but if I can accelerate myself by starting out of state then later move back into my area as opportunities become available, then I'd like to at least see the options available.

Here's my question: Does anyone have any recommendations on where to start out for someone who is new to STRs? If anyone has any experience working with a specific group or course, I'd love to hear your input. Access to data is huge, and I know many people spend a many thousands dollars on courses to get started and to get access to tools. Does anyone have any recommendations for me that would be helpful? 

Thanks and best regards!

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