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Updated over 1 year ago on . Most recent reply
STR vs buying primary residence
So originally we were going to buy a lakefront property as a STR and get that cash flowing, then buy another for us as a primary residence and put up out current house as a Long term rental. Now I am considering buying a primary lake residence first (with only 5% down we could afford more house), live in it a year & do that again. It's a bit of a tough market because people are buying with cash, and over-paying for properties. Any feedback? Thanks for your input!
Joe
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#1 Short-Term & Vacation Rental Discussions Contributor
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- Greer, SC
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#1 Short-Term & Vacation Rental Discussions Contributor
- Investor
- Greer, SC
I think buy the lake house and live in it the required minimum time and co vertical to STR.
Another great option would be to buy a quadplex, live in one unit for 2 years and buy another. Do this 3 to 4 times and a day job would be optional.