Looking to get started

[Lane Hurley]

Hello everyone, my wife and I recently decided we would like to get started investing into STR's. We have just began the process and assumed that the first step would be finding our ideal location. We were thinking that areas that are very tourist heavy may be good options. First one that popped up was Myrtle Beach, SC, (condos most likely) because we have many friends and family that vacation there and it seems to be popular. I was wondering if anyone knew how the market was in that area and if anyone had any other advice for a first time STR Investor.

Thanks for any help!

[Dave Stokley]

I think you'd be surprised at the locations that have successful short-term rentals. I have clients that are absolutely killing it in somewhat obscure suburbs of Cleveland like Berea and Euclid. We do well enough here that I have basically 0 interest in going into a hyper-competitive market like Myrtle Beach.