Trying to find a mentor in the filed

[David S Richardson]

Hello everyone. I am in the Raleigh/Durham area and I'm interested in short term and mid term rentals. I am thinking about doing a rental arbitrage strategy and would love to meet others who have done that in this area that are willing to give some advice. 

[Cory J Thornton]

@David S Richardson - TREIA has a monthly meeting for STR investors in Raleigh. TREIA

I know several arbitrage operators who are giving up their arbitrage properties and keeping the STRs they own. At renewal time rents are increasing and with STR income dropping some, their margins are getting squeezed.

We have had several clients buy new STR properties in the last six months. The ones that seem to be meeting with success are targeting Raleigh and Durham properties with a good proximity to something in high demand (airport, university, downtown, hospital ...).

We also have seen rural STRs do pretty well. These function more like hotel replacements. There is far less STR data in the areas 45-60 min away from Raleigh, so there is more risk here .. but it is being done successfully.

If there is anything I can do to help, don't hesitate to connect. Best of luck on your RE investing journey!