Medium Term Rentals

[Sarah Schopbach]

Hello Bigger Pockets Crew,

My husband and I live in Asheville, NC.  But we are looking to do our first investment somewhere NOT as expensive as our current town.

Does anyone have experience in doing well in the MTR market focusing on hospitals to recruit nurses?

[Brett Deas]

I started my MTR's focusing on travel nurses and learned quite a few things. Hope these help.

1) Look at the competition for them. Here in Denver everybody and their mother has a unit to rent out, whether that is the whole place or a basement unit, there are thousands. So we got ourselves a whole unit to rent out to beat the competition.

2) We ended up renting to only a few travel nurses with the majority being relo families. We learned that travel nurses don't need our 3 bed place, even though it is in the prime area, because they often travel with their partner or alone. 

3) Make sure there is diversified demand in your area. Travel nurse need is hard to predict and never steady, and often times their contracts can get cancelled rather quickly and leave them high and dry with no payment. So it is important that you have other demand drivers such as cooperate companies, digital nomad appeal, relocations appeal. 

All in all we learned alot about travelling nurses and to not always rely on them. If you have any other questions feel free to reach out.