I need help getting started.
New to Real Estate · UT · Member since 2022 · 10 posts · 8 votes
My wife and I are looking at doing a mix of house hacking/STR-MTR.
Iv gotten some clues on what places to stay away from and places to go. Not only are we new to the area but new to realestate. I have read a few books. But need some guidance how to financing, buying and run our properties.
Yes, we work with a great deal of clients in Texas!
My wife and I are looking at doing a mix of house hacking/STR-MTR.
Iv gotten some clues on what places to stay away from and places to go. Not only are we new to the area but new to realestate. I have read a few books. But need some guidance how to financing, buying and run our properties.
Hi Matthew!
It's exciting that you and your wife are considering a blend of house hacking and short- to mid-term rentals (STR-MTR), especially as newcomers to both the area and real estate investing. This strategy can be a powerful way to offset your own housing costs while building equity and learning the ropes of property management. Since you're new, the first step is to nail down your financing options. For a primary residence, consider low down payment loans like FHA (3.5% down) or conventional loans (as low as 3% down for first-time buyers). These options can help you get started without tying up too much capital, especially important if you plan to make improvements or furnish for STR/MTR.
Next, get familiar with local zoning laws, HOA rules, and STR/MTR regulations in the area you're targeting—these can vary significantly by city and even by neighborhood. Some areas may prohibit STRs altogether or require specific licensing, while others may welcome them. Once you've narrowed down a target location, partner with a local real estate agent who understands investor-friendly properties and the nuances of STR/MTR regulations. This professional can also help you evaluate potential deals not just on purchase price, but also on projected rental income and occupancy trends.
When it comes to running your property, start thinking like a small hospitality operator. For STRs, platforms like Airbnb and VRBO can get you visibility quickly, but good photography, guest communication, and reviews are everything. For MTRs, especially in markets with a traveling nurse or corporate housing demand, websites like Furnished Finder can help. Set aside a realistic operating budget—furnishing, utilities, cleaning, and maintenance all add up. Start small, stay flexible, and treat your first property as both an investment and a learning experience. With time, you’ll refine your systems, understand what works in your market, and gain the confidence to scale.
Note: This information is for educational and informational purposes only and does not constitute legal, tax, financial, or investment advice. No attorney-client, fiduciary, or professional relationship is established through this communication.
My wife and I are looking at doing a mix of house hacking/STR-MTR.
Iv gotten some clues on what places to stay away from and places to go. Not only are we new to the area but new to realestate. I have read a few books. But need some guidance how to financing, buying and run our properties.
Hi Matthew!
It's exciting that you and your wife are considering a blend of house hacking and short- to mid-term rentals (STR-MTR), especially as newcomers to both the area and real estate investing. This strategy can be a powerful way to offset your own housing costs while building equity and learning the ropes of property management. Since you're new, the first step is to nail down your financing options. For a primary residence, consider low down payment loans like FHA (3.5% down) or conventional loans (as low as 3% down for first-time buyers). These options can help you get started without tying up too much capital, especially important if you plan to make improvements or furnish for STR/MTR.
Next, get familiar with local zoning laws, HOA rules, and STR/MTR regulations in the area you're targeting—these can vary significantly by city and even by neighborhood. Some areas may prohibit STRs altogether or require specific licensing, while others may welcome them. Once you've narrowed down a target location, partner with a local real estate agent who understands investor-friendly properties and the nuances of STR/MTR regulations. This professional can also help you evaluate potential deals not just on purchase price, but also on projected rental income and occupancy trends.
When it comes to running your property, start thinking like a small hospitality operator. For STRs, platforms like Airbnb and VRBO can get you visibility quickly, but good photography, guest communication, and reviews are everything. For MTRs, especially in markets with a traveling nurse or corporate housing demand, websites like Furnished Finder can help. Set aside a realistic operating budget—furnishing, utilities, cleaning, and maintenance all add up. Start small, stay flexible, and treat your first property as both an investment and a learning experience. With time, you’ll refine your systems, understand what works in your market, and gain the confidence to scale.
Note: This information is for educational and informational purposes only and does not constitute legal, tax, financial, or investment advice. No attorney-client, fiduciary, or professional relationship is established through this communication.
Yes, we work with a great deal of clients in Texas!
Hey Matthew,
I am a lender and have done a MTR househack myself. These are my absolute favorite deals. Happy to chat and answer any questions you have.