Do you see short term rentals as a long term investment strategy?

[Troy Larson]

I am researching investment strategies and keep getting pulled back to STRs. I know many large tourist towns and cities have/are enacting regulations that may make STRs out of reach for a single investor or company.

Still, I can't help but to think that properly placed and finished STRs aimed and marketed to select guests could make for nice long term holds.

I.E...

Homes near schools for families during visits for athletic, arts or cultural event or graduation. Condos near military bases, or other large business concentration for short term business associates.

Where do you see your STR investment portfolio in ten or twenty years?

[Luke Carl]

STRs do not need to be managed locally. Everything is done from your smart phone whether the property is down the street or in another country. Pick the market with the best returns and the least permits (Gatlinburg Pigeon Forge, Orlando, Big Bear, Kauai) and start buying. 

The question is.... can you think you can handle the customer service and the reviews and will the property make enough money to make those things worth it. The markets I suggested are about the only ones that answer Yes. 

I have 5 log cabins in the mountains that are booked every night year round. I live 3 hours each way which is no different than living 30 hours each way. I manage them from my phone with a day job, a family, 3 dogs, I've run 22 full marathons, I eat lightning and crap thunder. 

To answer your question... I plan to keep them. I sometimes think about getting rid of them but can't find anything that will cash flow nearly as much!