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The MLS seems to be flooding with STR
Hey Everyone,
My name is Isaac Johnson. I'm a local real estate investor and agent. Recently I was helping a client find property in NWA and every single house we looked at was an AirBNB that had been bought less than 2 years prior. 1 or 2 seems pretty normal, I understand things don't work out sometimes. But I mean it was 5-6 homes. One of which we bought and they took well under asking if we could close in 2 weeks.
I don't mess with STR, I prefer the longer leases, so I have no experience in the field. I was wondering if any STR investors in the area can shed some light? Is NWA just not good for short-term rentals? Or are most of them bought with interest only loans while they're being furnished and the interest rates just crushed them? Thanks!
-Isaac