ST Rental Partnership

[Sonya Wachacha]

I’m just starting out. I’ve found a partner who has improved land in a mature vacation rental market. We are interested in ST/vacation rentals and I’d like ideas about how to structure a partnership. I was thinking my property management company could manage the rentals in lieu of a monthly lease fee. ??

[Sofia Sharkey]

@Sonya Wachacha one of my first STRs was in partnership with another 3 investors. They put in most of the capital and I put a smaller amount. We created an llc for that property where the %s are stipulated and I do the management since that’s my area of expertise. One of my best investments and looking to do more partnerships this upcoming year. It’s a powerful strategy I definitely recommend. I’ll add that I’ve never meet the other 3 members in person and they don’t live in different states. Totally doable, Good luck!