All Forum Posts by: Ben Scarborough

Seeking out STR mastermind recommendations... Please drop suggestions below with links to the sign up pages, thank you!

Hey Jeff, are you still interested in beach markets? Gulf Shores, AL is certainly one you may want to take a look at if you haven't already. This market attracts a mass amount of snowbirds Jan-April, due to its proximity to I-65. People from the midwest love to visit the area this time of year. The summers are very comparable to any other large beach market in the southeast US as well. If you have any questions, feel free to reach out!

-Ben

I would not go the rent-to-own route. You are better off doing traditional rental arbitrage for a bit, in that case, until you can afford a down payment on a house that meets your STR ROI criteria if capital is the issue. Another option would be to cohost properties for STR owners in distress from self-managing their properties to collect more capital for a down payment on your own property. However, if you don't have any STR experience thus far, the best route to go, in my opinion, would be to partner up with someone like-minded. When selecting a partner though, I would recommend avoiding close friends/family as first investment properties can be a very stressful experience for many. I got into my first STR by partnering up with my co-worker's husband I met at a work event. Actively talk about your interests in STR investing with people you meet and your pieces will fall into place. You want to take your time and be very confident with your investment strategies in today's market. That same first STR I got with that partner is still my best performing one even after we split profits. Please feel free to reach out if you have any questions!

House hacking a MFH, like any investment strategy, is obviously very dependent on the market you choose. However, I'd be surprised if you weren't able to make house hacking a duplex work numbers-wise in medium-sized markets and larger, especially if you are willing to set up the vacant side as an STR in a travel market with reasonable STR regulations.

Even if you just went the traditional LTR route though, you should be able to break even at a minimum in most medium-sized markets and larger.

Gulf Shores is a fantastic, established STR market. Would love to discuss with anyone that wants to know more about everything it has to offer!

Nice work!

Interested in learning more about Cashiers, NC too.

How does the Highlands, NC area perform for short term rentals? Looks like there may be some STR regulations that recently were passed a few months ago, but curious if anyone has any experience with this market? I have been hearing of a lot of people traveling there recently through word of mouth. Thanks!

Gulf Shores is a fantastic market. However, it is critical your guests have easy walking access to the beach. Also, if you have a heated pool, it can make more of a difference than you would think. Market data is great to look at and get a good overall understanding of a market, but like anywhere, location is absolutely key in beach markets which the data won't reflect. Don't settle for something a few streets back or on the North side of Beach Blvd. The main roads can be very busy here in the peak season and you do not want your guests having to dodge traffic on their way to the beach!

Very interested if there is still an opening. I have 3 STRs…

Gatlinburg - 2/1, Blue Ridge - 3/2, Crystal Beach - 3/2