MTR in Fayetteville?

[Matthew Rice]

Hello investors! I'm looking to start my rental portfolio and have been hearing more and more about the medium term rental play, which interests me. I'm a broker out of Raleigh looking for good areas to start an MTR. I've been thinking of Fayetteville due to great percentages (cash flow) + Cape Fear Medical (travel nurses). Does anyone have experience with MTR's or even STR's in Fayetteville, and what advice would you have for a newbie like me?

[Grayson Spittel]

@Matthew Rice I have 3 STRs in Fayetteville. It has been a market that is much better than I was even expecting. Not your typical destination STR market, but for the same fundamentals that it makes a great LTR location, it is SOLID. I get a lot of people traveling for work, and have had a few weeks+ rentals from people traveling to the area. One note that I will make is that, the market has become a bit saturated. It's not the Smokies where every house is a STR, but, investors have been pouring in for years consistently and it has created a larger supply. Biggest piece of advice there would be to simply ensure that you're creating a quality product in whatever you do.

[Tony Green]

Quote from @Grayson Spittel:

@Matthew Rice I have 3 STRs in Fayetteville. It has been a market that is much better than I was even expecting. Not your typical destination STR market, but for the same fundamentals that it makes a great LTR location, it is SOLID. I get a lot of people traveling for work, and have had a few weeks+ rentals from people traveling to the area. One note that I will make is that, the market has become a bit saturated. It's not the Smokies where every house is a STR, but, investors have been pouring in for years consistently and it has created a larger supply. Biggest piece of advice there would be to simply ensure that you're creating a quality product in whatever you do.

Have you tried any MTR's in Fayetville?

[Grayson Spittel]

@Tony Green I have not to date, but think it is a very solid strategy! I’ve seen others use it. Definitely something interesting to think about.