New to STR market in Northwest Indiana
Hello! My wife and I own a long term investment property in the suburbs of Chicago. We're considering making a purchase in the Northwest Indiana vacation market (Michigan City, IN specifically) and starting our first STR. Are there any other investors in this market in the forum? The area looks like it's getting competitive and we're worried about saturation. We'd love to glean any tips, tricks, or things you wish you would've known when you started out specifically relating to property amenities and maximizing the shoulder seasons. We've utilized AirDNA to run comps but are looking for a little human mentorship from an experienced investor in the area.
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#4 Short-Term & Vacation Rental Discussions Contributor
- Lender
- Eugene, OR
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#4 Short-Term & Vacation Rental Discussions Contributor
- Lender
- Eugene, OR
It's very common for a newbie to jump on a national forum for the entire country seeking info about a single select market.
The best suggestion is to network locally, in the local market that you are seeking local market intel on. Try Facebook Host groups. Try a local chapter of REIA (Real Estate Investment Association) Try connecting with a local real estate agent that works with investors.