Investing in Short Term Rentals from afar!

[Lorenzo Ferdinands]

Hello BP friends,

This would be my first post here. I am a 28 year old living in Singapore (where Real Estate is very expensive). Just bought my first home at 412k BMV and am renting out 2 rooms which covers my mortgage.

I experienced investing in a duplex in Cleveland, OH on land contract in 2012. I made the mistake of buying the property from my property manager and the conflict of interest left me with poor management, months of vacancy and I forfeited the property back to him. Lost dollars but a lesson learned.

I travel to the US once each year and intend to spend 9 months every year there (5years down the road). This is in the works. By then I wish to have a portfolio of short term rentals.

I am in preliminary stages and am still narrowing down location based on where I would like to live in 5 years as well as location accessibility and demand.

Listening to podcasts etc... I understand I would need the following:

1. Find a location with favourable short term rental regulations

2. As a backup find properties that would cash flow on Long term rental to if regulations change.

3. Find a location with Long seasonal demand or more consistent demand. (I will be looking around convention Centers)

4. Purchase properties that have an optimum # of rooms/beds per dollar invested

5. Have teams of Cleaners and  handymen at hand.

6. Furnish the apartments in a durable but homely manner and provide a high level of service 

Q1. (I am unsure how I should do this. Should I partner with someone on the ground. Should I pay my Cleaners very well and train him/Her/them. Should I look for a really good management firm that is well experienced with short term rentals?)

7. Learn more on and execute the BRRR strategy on these

Q2, I would need to find lenders that could help finance the purchase. I have an excellent credit score but that's here in Singapore. Any recommendations in NC/GA/OH? (my current shortlisted locations)

Any answers to my questions, recommendations of contacts who could help with the know-how, pointing me to relevant podcasts/forum posts, or any relevant advice would be greatly appreciated.

Best regards,

Lorenzo Ferdinands