Curious about Mid Term Rentals??? Read Below!

[Brandon Elliott-Pandey]

Story time! 

I purchased a long term rental in 2020 and shortly after my first tenants lease was up I came to find out they up and left, breaking the lease, and leaving me with a ~$10K bill to get the home rent ready again!.... all of our favorite surprises right ;-)

Fast forward, my property manager mentioned something about having a temporarily displaced family move into my rental and their insurance company would cover the rent. To my pleasant surprise they covered the rent to the tune of almost double the mortgage payment!!!

It now cash flows over $1,500/m with a tenet that acts like a long term tenet. They cover the utilities, supplies and all routine house maintenance. It's like having Airbnb profits without the Airbnb headaches!!! I like to explain it like this, "long term tenet tendencies, with short term tenet benefits!" 

Now this isn't typical but definitely possible :-) 

If you haven't already listened to BP's 728 podcast I HIGHLY recommend it. The gentlemen on the podcast dives deeper into this strategy and shows how you can make a LARGE amount of income without having to have the LARGE amount of rentals in your portfolio. 

If this helped you in your journey please up vote this post to help with it's visibility and lets share the wealth. Also if you have a Mid term rental story please share below! Would love to hear it :-)

[Allen Duan]

There are many stories in this section of the forums. We're currently at 20 doors we manage as MTRs in Los Angeles. It's a different perspective since I'm not the owner of the properties, but the demand and rental rates are great. To give you an idea, I'm confident in recommending any 2 bedroom or smaller units should be set up as a MTR instead of a LTR almost anywhere in LA. Happy to share more if you have specific questions =)