Seeking Feedback on Blended STR + LTR Path to Financial Independence
Hi all — new to the forum and new to active real estate investing. I’m a practicing physician who recently started learning real estate more intentionally after relying mostly on traditional investing.
My goal is to replace step away from call in ~ 10 years (or sooner) and eventually replace my income in 10-15 years. I’m considering a blended strategy of vacation STRs and LTRs to balance cash flow, tax efficiency, and long-term growth, and I’d love feedback from those with experience.
High-level approach:
• STRs in high-demand leisure markets for stronger cash flow, tax benefits, and lifestyle benefits
• LTRs in stable, affordable markets for predictable income and financing stability
• Moderate leverage using conventional financing
• Self-manage initially to learn the business, then transition to professional help
• Use LLCs, depreciation strategies, and long-term portfolio optimization
Questions:
• Does this STR + LTR blend make sense for a physician pursuing financial independence?
• Common pitfalls or risks I should be watching for?
• Advice on structuring the first few deals? Which deal to do first STR vs LTR?
Happy to share a sanitized pro forma via DMs if helpful. I'd be grateful for any any insight, lessons learned or mentorship.
-Thanks!