Seeking advice on MF portfolio addition - for Mid-Term Rentals

[Nic Gueye]

Hello All,

I recently secured a single family house for a Short Term Rental in the Poconos and now want to diversify my portfolio with least a duplex (or bigger) to be marketed for Mid-Term Rentals.

My ideal geographical regions would be the tri-state area of NY/NJ/CT. However, I am open to other regions that would make sense financially. I have done the research on which geographical areas have high demand for travelling professionals.

I need help with 2 critical items: (i) Seasoned real estate agents familiar with multi-family investing and understanding mid-term rental marketplace and (ii) Funding (as my cash reserves are tied up in other investments). I am aware of DSCR loans, but would love to pick brains on all funding. For example - Is SBA funding viable?

The timeframe to execute would be within the next 2 months.

The objective of this post is to garner the attention of the right person(s) from the BP family for this exploration - as the opinions from community mean a lot to me!

TIA!

[Bruce Woodruff]

Quote from @Dale K Poyser:

Quote from @Bruce Woodruff:

Quote from @Dale K Poyser:

@Bruce Woodruff a lot of cities are cracking down hard on STR and it's also getting pretty competitive.

True, but a lot aren't and there are always areas where the trend has not gone crazy yet....plus this recession will weed out some of the newbies and wanna-be's.....

True, I think that is one of the reasons I also think MTRs have been around for a while and is a nice happy medium between LTR and STR. I'm by no means an expert, but I have been following the space and see a lot of cities cracking down.

I would find a city where STRs are doing fine and start there. More $$ to be made and easier on the property overall to have it cleaned once or twice a week instead of every few months....