All Forum Posts by: Eddie Montejo

Another vote for Mrytle Beach per Michael Weigum's comment. I haven't invested there myself but beach adjacent property is surprisingly attainable and there's a durable market for tourism there. Between the stable economic projections published by the Myrtle Beach Chamber of Commerce and downward pressure on values given high interest rates, it might be a good time to get in at a good price, cash flow, and reap the appreciation goals in the next 5-ish years. 

Short- and medium-term rentals each have their pros and cons, so my thinking is why not hedge your bets and try both in the same unit? I think it also really depends on your sub-market. For example, I live just outside of the main "core" of Portland, OR where there isn't as much demand for short-term housing. There's a stronger (but undersupplied) market for medium-term housing out here since there's good access to the airport and nearby hospitals. I have an 400SF ADU that I've been renting out on a long-term basis for $1,600. STRs in my area with similar SF/amenities rent for an average of $100/day, 75% occupancy for gross income of $2,250. After fees and cleaning gross is in the ballpark of $2K. The same unit would probably only fetch $1,600/mo on FF. In my case, it makes more sense to lean into STR and fill gaps where possible with MTR. I've heard other people do the opposite where MTR provides the base rental income and STR is used to fill gaps.