Purchasing STR as a partnership

[Alexander Schloe]

Hello all, 

Hope that you are well. Thank you for taking the time to read this. I am looking at buying some STR property in multiple different states with a few partners and had a few questions for the BP community. Has anyone done this? How did you structure financing? Did you obtain a vacation home or a conventional loan and have an umbrella insurance policy? Was everyone on the title?

Or, did you use LLC financing?

Or, some other way? 

Thanks!

[Luke Carl]

@Alexander Schloe

Agree with everything thus far. Keep learning snd make sure this is right for you. I would recommend doing one or two in your own before partnering. I would also recommend staying in one market rather than spreading them out. Each market needs a while new system filled with systems. Would do 5 or 6 in one area before moving on to the next !