travel nurse question

[Ryan Fox]

I do private lending and one of my borrowers requested a loan for the purchase and renovation of a home to be used to rent to traveling nurses.  She thought it would be a good place for a traveling nurse rental because there are 3 hospitals within a 20 minute drive.  However, based on my research, only one of the hospitals hired nurses on a temporary basis, and they only had one position currently available.  Did I make the right decision to tell her I didn't want to loan with that business model?  There are various other primary care / specialty care facilities in the area.

[Jamie Banks]

I manage medium term rentals in different areas and I can say that I wouldn’t base the answer solely off travel nurse demand. While travel nurses and other healthcare professionals are a large part of the medium term market other tenant avatars include digital nomads, relocation families, displaced families, traveling professors, and there’s many more! 

To better assess the demand you or the borrower could look on furnishedfinder.com/stats to see the supply and demand figures in your city.

I’m realizing that there’s a need for furnished housing in almost every market!