All Forum Posts by: KiKi Wood

Hi @Nikita Douglass!

I may be biased, but I think a great city to invest in (or to at least consider) is Indianapolis! My finacé and I manage 21+ rentals in the area, and it is great! One awesome thing about Indianapolis is the low barrier to entry and the growing markets in and around he city. 

Like everyone else said, it is very important to do market research and make sure it's the right fit for you! If you ever need help or want to talk more about the Indianapolis market, feel free to reach out! :) 

Hi Keron! I think a great start is researching how well the homes will do in the local STR market! If you feel comfortable with that data, factor in start-up costs and if you will be managing it on your own or not. Make sure you have the systems/team in place to make each rental as successful as it can be. There are a ton of great resources on BP about starting one as well!

STRs can be such a great investment!! I wish you the best of luck.

We love direct bookings, and are currently setting up sites for our 21+ properties we manage. We are planning to use Guesty for it, and they have great templates. 

Hi @Kyle Barnhart! 

I personally invest in Indianapolis, and sell real estate here! Indianapolis is known for a low barrier to entry, and we currently have a lot of inventory! 

I would love to connect with you if you're interested in the Indiana market, or just want to talk real estate in general! :) 

Hi! 

I'm not sure if you're exploring other markets, but my fiancé and I own a STR/MTR property management group in Indianapolis, IN! We work closely with out-of-state investors everyday to grow their investment portfolio here. Indianapolis is known for having a low barrier to entry, is has a lot of demand for rentals!

I would love to connect with you about the Indianapolis market, or just STRs in general! :) Feel free to message me. 

Honestly, I would choose hybrid! Indianapolis is known for having "seasonality", so a lot of our properties are STRs in the summer, and MTRs in the winter! It has made a unique experience for us, but we like it! 

I sometimes advise people to rent (arbitrage) for a year to make sure this is the right market for them, and doesn't cause the stress of owning the home. Once you have a feel for it, you can keep the arbitrage, and with the cashflow from that, help buy/set up the home you're purchasing!  

I would highly recommend making a list of house rules and general info (WiFi info, trash day, and info about any quirks in the home). We also always do a welcome basket, and make it clear to call or text us if they have any questions. 

We have a MTR in an "iffy" area, and also provided a locked box for Amazon packages to be put on the porch. That was a touch our renter loved!

My fiancé found one that worked, and we have used that since!

Yes! Our properties are located in Indianapolis, IN, where there is a "seasonality" to our market. A lot of our STRs transition into MTRs in the winter. I would say for the other way around (MTR to STR), I would just make sure the area would make for a good Airbnb, and check the data you have (AirDNA, etc.) to make sure the numbers are in your favor!