First Rental Property

[Christian M.]

Hi everyone,

I am looking for some insight on how to best prepare to keep my current residence as an investment property. I’ll most likely be moving in about 2 years and I’d like to use this as a rental property if possible. It’s a single family home 3 bed 2.5 bath 1500sq ft. The issue is that the current mortgage is about $300 more than the average rent/month for comparable  homes in the area. I also recently thought about Airbnb but I have zero experience on renting a property or listing one on Airbnb. Any recommendations on what people have done in the past would be great! I really want to keep the house long term for the equity. Thanks! 

[Shaun Weekes]

Quote from @Christian M.:

Hi everyone,

I am looking for some insight on how to best prepare to keep my current residence as an investment property. I’ll most likely be moving in about 2 years and I’d like to use this as a rental property if possible. It’s a single family home 3 bed 2.5 bath 1500sq ft. The issue is that the current mortgage is about $300 more than the average rent/month for comparable  homes in the area. I also recently thought about Airbnb but I have zero experience on renting a property or listing one on Airbnb. Any recommendations on what people have done in the past would be great! I really want to keep the house long term for the equity. Thanks! 

The city of Fresno has a major University and several hospitals which means that in 2 years you could potentially use MTR's (Mid Term Rentals) Travel nurses, Ultrasound techs and potentially renting rooms to students all of which would make you more money than LTR's (Long Term Rentals)

You have 2 years to do as much research as possible to minimize mistakes and maximize profits. When you turn your primary into an investment property you will be ready to execute an MTR with tremendous success.

You can do this, and I hope this helps.