New Investor Introduction. Would Love to Connect!

[Kira Ligon]

Hi all! I just joined the forum after listening to a couple audiobooks written by former BiggerPockets hosts. I recently read Rich Dad Poor Dad, as I've heard many of you have as well, which inspired me to start taking investing seriously and focus on real estate. I'm currently working my way through some of Robert Kiyosaki's other popular books, as well as others on real estate investing specifically. At the moment, I'm focused on absorbing all the information I can before jumping into the active learning of actually investing. My husband and I are also playing Kiyosaki's Cash Flow game on a semi-regular basis.

From what I've researched so far, short-term rentals and long-term multi-family rentals seem to be the best fit for my goals and interests. I've done more research on multi-family than short-term rentals though, so I'm definitely looking to learn more about short-term rentals before deciding which I should focus on (at least initially). If you have experience with both, I'd love to hear your opinions and experience with each and why you might prefer one over the other. In particular, I'd like to know which has performed better for you personally in terms of annual cashflow, and which you would recommend to a beginning investor?

My goal is to purchase my first investment property within the next twelve months. If I go the short-term rental route, I'll be looking at areas within an hour and a half drive of my house, ideally on one of the lakes in the area or White River. If I go with the multi-family route, I'll be looking a bit further away around the major cities in Arkansas and Tennessee at a duplex or triplex. I'm currently based in north central Arkansas near Mountain Home. Eager to connect with y'all!

[Matt F.]

Hey Kira, just want to make the distinction that short-term rentals are a hospitality business layered on top of a real estate investment, assuming you own the property (which is optional). 

If you go in that direction, it opens the door to a completely different world that demands different things to be successful. That is totally OK, just making the point that short-term rentals and long-term multifamily are apples and oranges --- different business models, different requirements, different level of involvement, etc.

Just starting out, there is value in being close to whatever you're doing if possible.