Best Resources to Acquire and Launch My First STR Investment

Best Resources to Acquire and Launch My First STR Investment

Member since 2022 · 3 posts · 3 votes

Hi Everyone,

I'm reaching out to gather insights and feedback on a few short-term rental (STR) resources I've been vetting over the past few weeks. My goal is to acquire and launch my first STR within the next 60–90 days to qualify for the STR tax loophole this year.

I have a total investment budget of $125K all-in, and I’ve received a wide range of opinions on how best to deploy that capital. I’d love to hear from anyone who has worked with any of the following individuals or companies—or who has thoughts on which might be best suited to help me get started.

Resources I’m Considering:

1. Michael Cheng (Instagram STR Influencer)

  • Offers a paid mentorship/coaching program.
  • Two options:
    • Done-for-you: $25K
    • Do-it-with-you: $15K
  • Includes training on self-management and ongoing learning.

2. Bill Faeth (Instagram STR Influencer)

  • Offers a “do-it-with-you” coaching program for $9K.
  • Includes access to industry experts, curriculum, and coaching calls.
  • May partner with STR Search to help source properties.

3. BnB Turnkey (Michael Elefante)

  • Full-service solution: property sourcing, design, listing, and co-management.
  • Minimum all-in budget: $250K (includes down payment, closing costs, underwriting [$20K], design [$30K], contractor work, and furnishings).
  • Targets a minimum 15% cash-on-cash return.

4. My BnB Accelerator (Nick Korum)

  • Do it for You: Property sourcing for $25K ($10K upfront, $15K at closing).
  • Focus on creative financing (seller financing, subject-to, hybrid).
  • Targets properties that are 95% turnkey or underperforming Airbnbs with upside. ($600-$700k 10% down or seller financed; furnished smaller improvements like hot tub, putting green, astroturf, et)
  • Strategy: qualify for STR tax loophole, then transition to co-hosting or property management.

5. STR Search (John Bianchi)

  • Do it for You: Property sourcing for $18.9K upfront.
  • Also supports Techvestor.
  • Data-driven approach with a focus on self-management.
  • Targets smaller properties ($300K–$450K 10% down remaining for new furniture, sauna, fence, firepit, backyard ammenties, etc.) with room for value-add improvements.

6. STR Insights (Kenny Bedwell)

  • Do it for You: Property sourcing for $14K ($7K upfront, $7K upon finding a property).
  • Data-driven, self-management focused.
  • Hybrid between STR Search and My BnB Accelerator.
  • Targets properties needing minimal enhancements.

7. The Short-Term Rental Shop (Avery Carl)

  • Driven all by You: Realtor network focused on STRs in major vacation markets.
  • Offers free resources and agent connections.

8. Savvy Realty (Tyler Coon)

  • Driven all by You: STR-focused realtor network, similar to The Short-Term Rental Shop.

9. Gather STR (Justin Thompson)

  • Driven all by You: Offers creative financing deals in key vacation markets.

Other Tools & Resources I’m Exploring:

  • Deal Sources: The Offer Sheet Daily, STR Report, BnB Flow
  • Analysis Tools: BnB Calc, Chalet, Rabbu, AirDNA, Mashvisor

I’d greatly appreciate any feedback, personal experiences, or recommendations as I narrow down who to work with in the coming weeks. 

Thanks in advance for your help!

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Real Estate Agent · Louisiana · Member since 2017 · 215 posts · 148 votes
1y

This is just my opinion but I wouldn't pay someone to find a property for me. There are enough resources out there to learn on your own & seek help through a local STR friendly RE agent. There isn't a magical formula for STR success but if you put the time & effort into it, you've got a good shot at making it work.

Spend some time looking at markets you're interested in. Use platforms like AirDNA, PriceLabs, Rabbu, etc. & either reach out to local agent or browse yourself on any of the listing services around (Zillow, Homes.com, etc).

If you think you've found something that makes sense, ask a local STR friendly agent their opinion on it. Post is here on Bigger Pockets. There are too many tools readily available on the internet to spend a large portion of your down payment on someone to find you a property.

Just my opinion but I would suggest trying on your own before spending thousands on basically a finders fee. Good Luck.

See this reply in the discussion

10 Replies

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  • AJ WongBusiness Member
    Real Estate Broker · Oregon & California Coast · Member since 2022 · 822 posts · 696 votes
    1y

    This is great stuff Jeremy! I work closely with several of these teams and utilize several of these resources for myself and clients. My best advice is to apply what you learn with an on the ground STR focused broker in the target areas. Good luck!

    Sesemi | STR Brokers powered by Fathom Realty 516 Reviews
  • AJ WongBusiness Member
    Real Estate Broker · Oregon & California Coast · Member since 2022 · 822 posts · 696 votes
    1y

    This is great stuff Jeremy! I work closely with several of these teams and utilize several of these resources for myself and clients. My best advice is to apply what you learn with an on the ground STR focused broker in the target areas. $18K for an STR search is wild.. Good luck!

    Sesemi | STR Brokers powered by Fathom Realty 516 Reviews
    • Member since 2022 · 3 posts · 3 votes
      1y
      Quote from @AJ Wong:

      This is great stuff Jeremy! I work closely with several of these teams and utilize several of these resources for myself and clients. My best advice is to apply what you learn with an on the ground STR focused broker in the target areas. $18K for an STR search is wild.. Good luck!

      Any in particular that you would endorse and recommend?
    • AJ WongBusiness Member
      Real Estate Broker · Oregon & California Coast · Member since 2022 · 822 posts · 696 votes
      1y
      Quote from @Jeremy French:
      Quote from @AJ Wong:

      This is great stuff Jeremy! I work closely with several of these teams and utilize several of these resources for myself and clients. My best advice is to apply what you learn with an on the ground STR focused broker in the target areas. $18K for an STR search is wild.. Good luck!

      Any in particular that you would endorse and recommend?

      I would not recommend paying nearly 10%-15% of your investable capital to a 'coach' which is likely borderline violating Real Estate rules by providing real estate advice in areas they are unlicensed. I would recommend, AirDNA, Rabbu and third party PM to validate the projected income and a highly rated and reputable local STR focused RE Broker to guide you. I've helped 30+ STR investors in just three years and we have no additional costs except a standard RE Commission (which is going UP after this post!) Feel free to reach out anytime.

      Sesemi | STR Brokers powered by Fathom Realty 516 Reviews
  • Rental Property Investor · Arlington, TX · Member since 2016 · 706 posts · 611 votes
    1y

    I host an STR podcast with over 300 episodes and have interviewed nearly everyone in the space. If you're looking to qualify for the STR loophole, I recommend The Short Term Shop. They will teach you how to self-manage, which is what you will need to qualify for the loophole, and they can give you in-depth market analysis for vacation rentals.

  • Real Estate Agent · Louisiana · Member since 2017 · 215 posts · 148 votes
    1y

    This is just my opinion but I wouldn't pay someone to find a property for me. There are enough resources out there to learn on your own & seek help through a local STR friendly RE agent. There isn't a magical formula for STR success but if you put the time & effort into it, you've got a good shot at making it work.

    Spend some time looking at markets you're interested in. Use platforms like AirDNA, PriceLabs, Rabbu, etc. & either reach out to local agent or browse yourself on any of the listing services around (Zillow, Homes.com, etc).

    If you think you've found something that makes sense, ask a local STR friendly agent their opinion on it. Post is here on Bigger Pockets. There are too many tools readily available on the internet to spend a large portion of your down payment on someone to find you a property.

    Just my opinion but I would suggest trying on your own before spending thousands on basically a finders fee. Good Luck.

    • AJ WongBusiness Member
      Real Estate Broker · Oregon & California Coast · Member since 2022 · 822 posts · 696 votes
      1y
      Quote from @Josh Ball:

      This is just my opinion but I wouldn't pay someone to find a property for me. There are enough resources out there to learn on your own & seek help through a local STR friendly RE agent. There isn't a magical formula for STR success but if you put the time & effort into it, you've got a good shot at making it work.

      Spend some time looking at markets you're interested in. Use platforms like AirDNA, PriceLabs, Rabbu, etc. & either reach out to local agent or browse yourself on any of the listing services around (Zillow, Homes.com, etc).

      If you think you've found something that makes sense, ask a local STR friendly agent their opinion on it. Post is here on Bigger Pockets. There are too many tools readily available on the internet to spend a large portion of your down payment on someone to find you a property.

      Just my opinion but I would suggest trying on your own before spending thousands on basically a finders fee. Good Luck.


       Well said.

      Sesemi | STR Brokers powered by Fathom Realty 516 Reviews
  • Property Manager · Chattanooga, TN · Member since 2018 · 175 posts · 134 votes
    1y

    I just want to chime in and say BNBCalc is the underwriting tool I prefer.  Much faster/better/more accurate than spreadsheets.

  • Andrew SteffensBusiness Member
    Tampa, FL · Member since 2022 · 3k+ posts · 3k+ votes
    1y

    I think you may be overthinking it a bit. You do not need a influencer to be successful. Identify markets of interest (AirDNA can help with this). Once identified find reputable agents in that market with verifiable STR experience. I do this in Tampa - I have a weekly curated list of STR properties that go out to my buyers. They select from there (typically).
    we underwrite it together and then if it works go through the normal purchasing procedures.  I can assist in furnishing and management if they need.  All of that is paid by the seller of the property.



  • Shiloh LundahlPro Member
    Rental Property Investor · Gilbert, AZ · Member since 2016 · 3k+ posts · 4k+ votes
    1y

    Hey@Jeremy French. First off, I am by no means an expert in the STR space. I am still in my learning curve. With that being said, I own and manage 5 large short-term rentals. Three in Costa Rica and two cabins in Lakeside, Arizona (you can click the link in my bio if you would like to see for a frame of reference) I have about 4 years of experience in this space and I would say I that your decision should be based on your goal for the property.

    If your goal is just to save money on taxes and you aren't concerned as much with perfomance then I don't know if you would need any coaching. You may just want to make sure you work with a tax accountant who is very knowledgeable in the tax loophole you want to take advantage of. 

    If you want to get a property as a second home and that you can rent out to help cover the costs of the second home so that it doesn't increase your cost of living then you may not need much coaching for that. You could probably get that by watching YouTube videos and making tweets along the way and you and a spouse or family member or cleaner could probably handle most of the work that comes with it. 

    If you want to do really well with your short-term rental and have it really be an income source then you will likely need to get coaching on which house to buy, how to set it up, learn which software will be best to use, how to market it the best on the most poplar plateforms for the area, and how to respond to guests in such ways to get a 5-star review most of the time so that your property will stand out and become one of the top 10% of the short-term rentals in your area. This takes a lot of effort and time because you are stepping into the hospitality space which is a different aspect to real estate investing and much more time consuming. And it will likely take you a few years of trial and error to learn all of this. 

    With all that being said, I have hired 2 coaches. One from your list above that I spent $10,000 on the education. And another not from your list that I gave $8000 to for 10 sessions of private coaching but I ultimately asked for a 50% refund because he ghosted me half way through the coaching program and it took me writing a review of my experience working with him and sending it to him to proof read before I posted it to make sure everything was accurate in my review, before he refunded the $4000.  My problem with the coaching program that cost $10,000 was that there was a little one-on-one coaching but it was self driven and I felt a little guilty taking up the time of the coach because he was very busy and he gave access to his materials so felt like I should watch his materials rather than take up his personal time. He also hosted conferences and retreats but the conferences and retreats were additional costs over and above the $10,000 which I didn't like. And then I was placed in a learning group with other people with varying degrees of experience which did not match my experience or my goals so I did not find the group helpful at all. 

    So if you are going to get just one STR and you want it to perform really well financially then I would encourage you to get a coach that will do more personal hand holding throughout the process. Interview several of the people they have worked with personally in order to find out what their experience was like so that your expectations match what they deliver.

    Good luck to you. 

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