STRs for First Investment

[Claudia Salinas]

Hi,

I’m looking to buy my first short term rental and would love a bit of guidance. I truly appreciate anyone’s feedback!

- Are there any loan programs or strategies that are better for STRs?

- How do you evaluate an area to determine if it is a good place for an STR investment?… For context, I visited the Blue Ridge mountains in north Georgia and I think it's a beautiful area that many would want to visit but this is only my personal experience. I'm afraid since I am not well traveled I M just easily impressed, lol.

- What are the cons of listing with a company like AirBnB?… I’ve read a few posts on their site from hosts about cancelation fees, tech issues including algorithmic affects, etc.   

[Pretty Khare]

Quote from @Claudia Salinas:

Hi,

I’m looking to buy my first short term rental and would love a bit of guidance. I truly appreciate anyone’s feedback!

- Are there any loan programs or strategies that are better for STRs?

- How do you evaluate an area to determine if it is a good place for an STR investment?… For context, I visited the Blue Ridge mountains in north Georgia and I think it's a beautiful area that many would want to visit but this is only my personal experience. I'm afraid since I am not well traveled I M just easily impressed, lol.

- What are the cons of listing with a company like AirBnB?… I’ve read a few posts on their site from hosts about cancelation fees, tech issues including algorithmic affects, etc.   

Hi Claudia. You can usually leverage a vacation home loan with 10% down if you meet certain criteria for property use. If you are serious about STR, I would recommend the bigger pockets book Short Term Rental Long Term Wealth. It is a quick 130 page read and worth the $15 investment to get educated. It answers a lot of questions that beginners like you and I have.