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How do you decide to STR or LTR a Property?
I have been investing in real estate for over 20 years, but have no experience in short term rentals like Airbnb. I was hoping some of you could give me some things to consider as I try to decide to LTR or STR. I live and invest in NE TN around the Mountain City, TN area. We have a lot of Airbnb places in the area because of the mountains, lakes, Virginia Creeper Trail, and the Appalachian Trail. Because of so many STR places the availability for long term rentals is almost non existent. I get asked quite often if I have anything to rent.
I currently have a place I rehabbed that I have listed for sale because I'm also building a house that I need the cash for, but I have another house I just started that I may rent. I have a third that I just signed a contract on that I could also rent. Any advice will be appreciated.
Thanks for the input Basit.
I'm here in East Tn. Happy to connect you with some lenders i work with who have STR properties as well as a management team I know that specializes in the STR space. Let's connect
