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Updated over 3 years ago,
Are STRs a path to lifestyle building?
I am a "traditional" LTR guy, you know? ...But I have really itching to get into STRs or short term rentals (specifically vacation homes). I'm currently working on quite a bit right now but would like to create a plan with a real path to purchasing my first STR in 12 months.
So for you experienced players out there, what you say to me (STR newbie) if i said i want to build a few STRs in different markets for my family and me to visit as awesome vacay destinations?
My idea is a mountain house, beach house and ski lodge. (one of each) I am thinking Gatlinburg/Pig Forge, some FL market, and some east coast ski resort area (no idea where though)!!!
Any tips?
like.... how do you finance these? second home loan? Vacation home loan? Investment loans?
Also: referrals on lenders?
This has been an ongoing vision for me for a few years now. I figured I'd voice it here and now for the first time! Any feedback would be amazing!
(Yes, this is a jumbled post and I may be a crazy person. Well, crazy about real estate, whose with me?)