All Forum Posts by: Maxwell Lee

It seemed like something I would be good at, we were well-positioned to do so (capitalized and in an investing hotspot at the time) and my wife wanted to leave her corporate job so this was a way for her to do it. 

You've gotten some good answers here. Yes, in my experience Airbnb and short-term renting in general can be good for a lot of rental properties that fit the mold. I think it is especially good for a young, beginning investor with a lot of energy and focus who wants to maximize value and returns.

That said, you're talking about airbnb investing from long distance, and in markets specifically for that. I'm not sure if it's a good idea for a new investor to do that. Ideally you stay in your own market when you're first starting out, as so much can go wrong. I also haven't found a great multi market company that handles airbnb management for investors long distance, other than some luxury ones that are extremely specific about property type. Hopefully if you or someone else has you can share the recommendation. 

I do not entirely understand the OP's question, but to anyone reading. Yes, in my experience Airbnb and short-term renting in general can be good for a lot of rental properties that fit the mold. I think it is especially good for a young, beginning investor with a lot of energy and focus who wants to maximize value and returns. 

Thanks for the replies, folks!

Hi all, 

I'm sure this has been discussed somewhere but I'd appreciate if someone can give me some simple, quick and current insight into what range is typical in the Chicago market. Some details in case they are pertinent: Small condo in the Logan Park area. Rent was advertised as $1350 inclusive of all utilities (water, electric, gas, internet) or $1100 with none. Sec deposit - $2000. 

What would be reasonable for a 6-month lease? A one-year lease?

Thank you so much!

Max

@Charles Worth Hey man thanks for chiming in. I think you hit the nail on the head but you're also overcomplicating my question. It was a broad question seeking a broad answer. I want to be inclusive of any and all submarkets that are of interest to long distance investors. I can use some of my own criteria to narrow down from there, but since I am not buying and it's just for research, it isn't even that crucial to narrow down. I enjoy reading about all kinds of places, studying numbers, and reviewing tons of listings. 

Hi @Malgorzata Sadowska, 

I am not planning to invest myself. We are finished investing for the foreseeable future, maybe again in the next down cycle (which could actually be soon I suppose)

I am inquiring because I'd like to learn more. So I guess I'm interested in what other investors, especially non-local ones, are interested in. 

TL;DR - Open to all, unless there's a class you feel is best-suited for long distance investors. 

Thanks @Robert F.! I am actually pretty familiar with the Grove and Coral Gables...not as an investor but just going to those areas for various reasons from time to time. Sunny Isles is a whole other level I'm sure. Edgewater I will need to check out...have been up around Midtown and Wynwood quite a few times but never had a full grasp of "Edgewater" although I'm guessing I've passed the area once or twice. 

I'll reach out in the future if you don't mind sharing a few more details!

I live in the Miami area but do not invest here...and shamefully haven't learned much about the market whatsoever. So here I am with a very basic question:

What are the popular submarkets you would recommend for long distance investors? Yes, this is a relatively broad question but what comes to mind first? Ok, some other criteria:

1) Good for running/jogging around the neighborhood. That's how I want to get to know the area. 

2) Relatively safe as well (so I can run and bring a camera without much worry)

3) Places that are popular with investors, particularly where long distance investors would want to check out

4) If it is undergoing (or has the potential to undergo) rapid transformation then even better!

Thanks so much for your suggestions!!

@Suzie Remilien Hey I am back and glad to hear that!