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Updated 7 months ago, 05/09/2024
Cheers to new beginnings!
I am a beginner at all this, but am not unfamiliar with finding, calculating, and investing. I am no where near a credited investor yet, but I understand the in's and out's of property management, business deals, transactions, and core understanding of how to find the right deals. I invest in STR and I am currently switching over to Mid-Term Rentals. I want to purchase properties all over the U.S. in specific areas that my wife and I calculate and predict high returns on with multi family units, apartments, duplexes, etc. We don't have funding, but are trying to build and save for this. We know there are investors out there that want to put money into ideas that we have, but we don't know where to look. We are hoping by joining BiggerPockets we can get help from like-minded persons and communicate for help. I hope to meet amazing people here!
- Specialist
- West Palm Beach, FL
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Welcome to BiggerPockets, Jake! This is a great place to learn and to connect with people so take advantage of all the great resources.
-Julio
I could make the argument that almost any location can work. But if your plan is STR, then you need to understand the laws and that they are subject to change. This is especially true with MFU.
With that said, Ventura is an interesting market. Beach town alternative to Malibu. There are festivals out there as well as things to do.
@Jake Fleming you should speak with an experienced attorney about raising capital legalities, so you don't get yourself in trouble with the SEC.
Once you know what you can and cannot do, you should use the Classifieds Forum and also post on Facebook, etc.
- Michael Smythe
@Julio Gonzalez Thank you very much!
@Rick Albert You are correct anywhere can work, but most areas are seasonal or temporary. We focus on year round areas that have high traffic for pleasure and business. So we don't struggle for a few a months instead continuously see profit. Think of Nashville, Vegas, Miami, Orlando Disney, Anaheim Disney. Unfortunately with new regulations it has become harder in the higher foot traffic cities so MTR is a way to go being that it is still popular in business, nursing, relocations, etc. We also want to look into MFU for certain demographic and locations that we know profitability is a given. We have it all laid out, its just a matter of funds.
@Michael Smythe Thank you for the advice, I will look into it!
@Jake Fleming I would start with your local REIA and network there with investors face to face, build relationships and go from there. You will likely be surprised at the people in the room at a REIA that have tons of money looking to deploy. These forums will be a good resource too, but nothing beats shaking someones hand, looking them in the eye and listening to what they have to say.
Best of luck!
Thank you for all the support and helpful information!