Looking to purchase first rental..... Do would anyone recommend MTR or STR?

[Duane A. Snow]

I have gone back and forth about what kind of rental I start with. Was thinking a single family home 2 to 3 beds. Was wondering about starting in the Mid-Term rental area rather than STR. Yes I have pondered the Full year rental and that would do mortgage and give me a little extra, but thought MTR or STR might do better. Also, can you rent out each room for MTR? thanks for whom ever may lead in the right direction.

[Alan Asriants]

MTR and STR operate more like a business. A lot of it has to do with how you advertise, your ammenities and features, and your track record. To stand out in the STR space especially you need to be very well accredited and offer and great and unique product. This requires a lot of marketing and intial investment into your furniture, activities, etc.

A lot of people think that buying a property and listing it on AirBnB is somehow going to make them better returns. Its a skill and a business. Not necessarily an investment. 

The reality is that you need a lot of time and money up front to get your project started and you need to really work on building your credibility. Just think about yourself when you choose to stay at an airbnb. Do you stay at the sketchy looking log cabin for 300/night or do you go for the super well done cabin with a pool table, sauna and hot tub for 450/night - oh and they have a ton of reviews and listed as a super host.

if you want to have steady cash flow and steady returns to INVEST into real estate then ditch the idea of MTR and STR and get a LTR in a decent area

If you want to own a business than go for the STR or MTR model. But business returns are not immediate and take time and money to grow.