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Updated almost 2 years ago on . Most recent reply

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Adam Wright
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New to Bigger Pockets. Looking for advice to branch from LTR and get into STR or MTR.

Adam Wright
Posted

Hi Bigger Pockets community! I'm new to the page here. I currently invest in long term rentals in the Detroit Mi area. Looking to expand into short-term or mid-term rentals but not sure where to start regarding locations. I'd love to look in vacation hot spots for my family to utilize when not rented, unfortunately those areas seem saturated. Any up and coming areas that I should start researching and connecting with agents? Thank you all!

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Bonnie Low
#1 Medium-Term Rentals Contributor
  • Lender
  • Asheville, NC
1,790
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Bonnie Low
#1 Medium-Term Rentals Contributor
  • Lender
  • Asheville, NC
Replied

Everybody asks this question at first, but the answers are dependent on a lot of variables. If you just want to get a list of the top markets, get on AirDna or STR Insights. But what are you looking for? Are you going to manage it yourself or use a PM? Do you want a property that is also going to appreciate? Do you want a property that generates lower rates but is not season dependent or are you ok with a busy season than large holes in your calendar during the off season? You've got some good areas fairly close to you that are doing well but relatively under the radar still like the KY Bourbon Trail and Indiana Dunes.

  • Bonnie Low
  • [email protected]
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