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Updated about 1 year ago,
First Investment - MTR in Springfield, Illinois?
Hi everyone. I'm looking into getting my first investment property and considering buying a home in Springfield, IL and turning it into a MTR. The reason for this is because Springfield looks to be a low-cost entry point. It also has good demand for travel clinicians/nurses, and on Furnished Finder the data suggests that there is good demand but very little housing available to them. Seems like an opportunity to fill the gap in a cheaper market. My concern, however, is that I'm in California and don't have any personal connections in Springfield. I worry that because I don't have a network in Springfield and am brand new to REI, I may have a tough time.
My question is: is Springfield, IL a viable market to create MTRs? Should I consider pivoting to a different market where I have connections?
Thank you!