MidTerm/Short Term Rental in the DMV

Member since 2023 · 43 posts · 20 votes

Ive been looking into investing in Short Term/Mid Term rentals in the DMV area. Ive done some research and the market seems a bit saturated. Any advice? Should I still continue looking and just focus on making my potential property stand out or should I just look into a different area outside from where I live.

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David Cherkowsky

Investor · Alexandria, VA · Member since 2023 · 92 posts · 52 votes

8mo

Hi Jeffrey, where are you looking in the area? I have an STR in DC and am doing well. Happy to provide some insight if you have specific questions.

What's your goal with STRs? House hacking? Buying something nearby so you can self manage and claim material participation? Maximize cash flow?

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David Cherkowsky
Investor · Alexandria, VA · Member since 2023 · 92 posts · 52 votes
8mo
Hi Jeffrey, where are you looking in the area? I have an STR in DC and am doing well. Happy to provide some insight if you have specific questions.

What's your goal with STRs? House hacking? Buying something nearby so you can self manage and claim material participation? Maximize cash flow?
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- Jeffrey Reyes
  OP
  Member since 2023 · 43 posts · 20 votes
  8mo
  Quote from @David Cherkowsky:
  
  Hi Jeffrey, where are you looking in the area? I have an STR in DC and am doing well. Happy to provide some insight if you have specific questions.
  
  What's your goal with STRs? House hacking? Buying something nearby so you can self manage and claim material participation? Maximize cash flow?
  
  Hey David, I live in the Silver Spring ,MD area but I been looking into investing in the Alexandria area and ideally I was thinking about doing more a hybrid strategy so STR during peak seasons and Mid term to fill up the slow seasons. Evenually if all goes well I would like to continue growing my portfolio and eventually expanding to different areas if all goes well.
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- David Cherkowsky
  Investor · Alexandria, VA · Member since 2023 · 92 posts · 52 votes
  8mo
  Quote from @Jeffrey Reyes:
  
  Quote from @David Cherkowsky:
  
  Hi Jeffrey, where are you looking in the area? I have an STR in DC and am doing well. Happy to provide some insight if you have specific questions.
  
  What's your goal with STRs? House hacking? Buying something nearby so you can self manage and claim material participation? Maximize cash flow?
  
  Hey David, I live in the Silver Spring ,MD area but I been looking into investing in the Alexandria area and ideally I was thinking about doing more a hybrid strategy so STR during peak seasons and Mid term to fill up the slow seasons. Evenually if all goes well I would like to continue growing my portfolio and eventually expanding to different areas if all goes well.
  
  Makes sense. I employ a similar strategy with my STR in DC. STR during peak season, but I'm also listed on Furnished Finder at premium pricing to drive longer term stays, especially during slow seasons.
  If you're not looking at owner occupied, as Russell said, Alexandria is the only market where you can STR legally. Most other counties have a 90 day maximum if you are not living on the property. Feel free to DM me if you're interested in some of the details that have worked for me. I have an LTR in Alexandria and an STR in DC. Looking to buy an STR in Alexandria later this year.
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Russell BrazilBusiness Member
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Real Estate Agent · Washington, D.C. · Member since 2012 · 17k+ posts · 30k+ votes
8mo
Quote from @Jeffrey Reyes:

Ive been looking into investing in Short Term/Mid Term rentals in the DMV area. Ive done some research and the market seems a bit saturated. Any advice? Should I still continue looking and just focus on making my potential property stand out or should I just look into a different area outside from where I live.

Mid term rentals are a viable strategy in the area. Short term rentals only really work in Alexandria due to the other jurisdictions limit on how many days per year you can rent the property
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- Jeffrey Reyes
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  Member since 2023 · 43 posts · 20 votes
  8mo
  Quote from @Russell Brazil:
  
  Quote from @Jeffrey Reyes:
  
  Ive been looking into investing in Short Term/Mid Term rentals in the DMV area. Ive done some research and the market seems a bit saturated. Any advice? Should I still continue looking and just focus on making my potential property stand out or should I just look into a different area outside from where I live.
  
  Mid term rentals are a viable strategy in the area. Short term rentals only really work in Alexandria due to the other jurisdictions limit on how many days per year you can rent the property
  Hey David, do you currently have any properties in the area? I did notice the the STR laws are getting more strict which is why I started to lean more towards the mid term rental side. Only problem is that Ive seen many properties already listed as mid term rental in the area so I just wanted to get some insight on how well other people are doing
  
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Christine LeonardBusiness Member
Real Estate Agent · Annapolis, MD · Member since 2026 · 16 posts · 4 votes
7mo
Hi, I am managing 2 STRs in Annapolis - happy to chat about opportunities in that area - there is also a lot of potential on the Eastern Shore.
[email protected]443-223-4193
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Alex FailaevPro Member
Investor · Salisbury, MD · Member since 2015 · 120 posts · 56 votes
7mo
Hi everyone and specifically @Christine Leonard
We run a few Airbnb, and we have a need for a MTR in annapolis. This is going to be for a long term 4-5 nurses.
Need to be close to downtown.
If this is applicable to anyone here, then please contact me or just reply to this thread.

Thank you

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