First STL: Target CashFlow or Location Near Home Base

[Pearce Trenary]

Right now I am at the beginning journey of acquiring my first short-term rental. I have done much research and found a handful of locations. I am between Outer Banks, NC., and Apollo Beach, FL. Outer Banks shows 18% better cash flow month over month and shows better long-term potential however it is very far away from me and difficult to get to. Apollo Beach would be within 3 hours of my home base (soon to be Orlando) but cash flow is not as promising.

Is it better to have a location that is within 1-5 hours of your home base so you can get there if needed? Or is it better to go with the property with the best cash flow and future potential?

[Ken Boone]

Yea I agree with John.  I like the 1-5 hour thing.  Mine are about 3.5 to 4 hours away.  Not that you can't do it from a long distance because you definitely can, but to get a feel for everything it would be easier if it was closer for you to reach it.