First steps getting started in Vacation Rental Property Investing

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My brother and I are looking to get started in the vacation rental property business. We have $100,000 saved between the both of us but are not really sure the best way to go about investing it. Would it be smarter to put a down payment on multiple single family properties or go for a larger property in a popular area?

Next question is location. I live in Kansas city right now but we are wanting a property that is attractive year around so we can maximize its occupancy. Do you guys have any advice on where to look that will generate most cash flow?

Last, what are the first steps that we can take in order to get this started?

You need to listen to the latest podcast with @Avery Carl

5 Pitfalls When Buying These “Crazy Cash Flow” Properties (biggerpockets.com)

I have a friend that bought a property through her in the Smoky Mountains and he's doing great. I've been finding too many good deals in my local market but intend to purchase something in one of her markets in the near future. Listen to her podcast because it has some great advice about how to find a good deal in a good market.

@Max Tierney Look at all the top vacation markets. Everything is expensive right now so do not look for STRs in a less populated area just because it is cheaper. It is cheaper for a reason.

Look East. Blue Ridge Mtns, Gatlinburg Area, and even over towards Asheville.

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@Max Tierney Congrats on jumping into the STR game! If you qualify for a 10% down second home loan that's obviously a way to get the most bang for your buck. You can also find 15 and 20% down investment loans that allow you to count projected rent to qualify you.

I personally invest in the Blue Ridge, GA area and have loved it so far. A lot of people like the Smoky mountains (though prices are sky high). I’d first choose the type of market (such as beach or cabin) and then narrow from there. Happy to talk more about it if you have more questions!

Originally posted by @Nathan G. :

You need to listen to the latest podcast with @Avery Carl

5 Pitfalls When Buying These “Crazy Cash Flow” Properties (biggerpockets.com)

I have a friend that bought a property through her in the Smoky Mountains and he's doing great. I've been finding too many good deals in my local market but intend to purchase something in one of her markets in the near future. Listen to her podcast because it has some great advice about how to find a good deal in a good market.

 Agree 💯%

You can save a lot of time just reading her book, checking out the short term shop website, and see what markets they are in. Then contact them to help you find a property. Welcome to STRs!

Hey @Max Tierney I've worked with thousands of buyers over the past couple of years. You should check out Branson, MO because it's a killer investor market for STR's, and only 3 hours away. I used to live in KC and never thought I'd go to Branson.... Now I work exclusively with STR investors here. Southwest Missouri properties haven't appreciated as crazy as some other major market areas. Hit me up if you want to connect and chat about the industry!