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Updated over 3 years ago on . Most recent reply
First STL: Target CashFlow or Location Near Home Base
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?
Most Popular Reply
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.