All Forum Posts by: Julie Lin

Thank you! I’ll have to check this out. Appreciate the response.

Yes I have read her book :)

I am definitely open to other areas too. Tho wouldn't want to do a new build so far away. Open to recommendations on other areas for a successful STR!

My husband and I were considering Oregon or something near mountains. Not gatlinburg. 

Thanks for your thoughts

Honestly im feeling a bit torn by strategies and stuck.  I have the capital to enter the real estate business (I only want to spend $200k to start) but I cannot figure out how the heck to enter it right now. My journey so far:
1- analyze plenty of deals in dupage county and none of them cash flow at current prices and interest rates

2- analyze a few chicago deals that would cash flow in more challenging areas, but my agent has advised against investing in those areas bc the law in cook county and chicago highly favors tenants

3- consider STRs (+love the idea of having a vacation home!) but many areas have zoning laws or other regulations making it too difficult. And of course there are the folks saying it's too saturated. Aside from these issues, I was considering the easiest way to enter the market would be a new build-STR bc it's hard to find something nice at a good price right now
 

I’d consider it. I used to vacation there with my family growing up, though it’s a good 6 hours away from me. I would love to do New Buffalo/Michigan City for my first since it’s only 1.5 hrs away

Hi,

I have been researching STR rental markets and regulations in my area and I am struggling with ways to enter a market with such stringent regulations. For example, I'd love to do a new build in New Buffalo near Lake Michigan but it looks like all the zones restrict new STRs. What markets in the IL, chicago, or nearby Lake Michigan areas are best for creating new STRs without being hindered by zoning regs?

thanks!

I've been researching STR regulations is various markets and many areas require a "local agent" that lives within 10-45 miles of the village. For those who intend to self-manage from afar, what do you do about these local agent requirements? Are you forced to hire a property manager? Or are there "local agents" for hire at a lesser fee? Are there folks who can take phone calls in case of an emergency but they do not manage the STR overall?