Interested in short term rentals

[Malik Brown]

Hello everybody,

My name is Malik and I’m very new to when it comes to real estate. I’m interested in getting into short term rentals and don’t know where to begin. I don’t own any property and have little money to put down. If someone could point me to the right direction or even offer some advice so i know what steps i need to take so achieve this that would be great. I live in Maryland. Thank you in advance!

[Alex S.]

@Malik Brown With no property and no money, you should probably work towards buying a duplex/4-plex and planning on living in one of the units while renting out the others. You can get an FHA loan with as little as 3.5% down.

If you can't save 3.5%, then you don't care enough about reaching the goal.  I used to drive around a 93 Honda accord delivering pizza on Fri/Sat nights to add another $200/week.  At that rate, you could be moving into your duplex in less than 6 months with the person on the other side of the wall paying your mortgage.

Time to start reading and studying...books/podcasts/etc.  It'll be worth it!