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Updated 7 months ago, 05/11/2024
MTR in Southern California
Hi, I'm looking to start MTR business in Socal. I'm looking to target travel nurses, corporate professionals, and insurance displaced individuals. What kind of properties should I target? 2/1 apartment units? Studio units? What city would be great for my first MTR unit? How much can I expect to furnish each property?
#1 Rehabbing & House Flipping Contributor
- Lender
Hi Alex - I think targeting smaller units like 1/2 beds if you're planning to target travel nurses makes the most sense. I would recommend looking at the Furnished Finder Traveler Search to see what is currently listed in the area you are targeting.
#1 Medium-Term Rentals Contributor
- Property Manager
- Los Angeles, CA
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#1 Medium-Term Rentals Contributor
- Property Manager
- Los Angeles, CA
Hi Alex! I own a MTR management business with 25 MTRs in Los Angeles. I would target 1 bedroom units and/or 3 bedroom and larger. Could be SFHs or small multi family. Over the last 4 years, 2 bedrooms have performed the worse than the 1 bedroom or larger homes. I believe it's because individual travelers will choose the 1 bedroom and families prefer 3 or more bedrooms.
The right property pretty much anywhere in LA can work well as a MTR. You need to identify what kind of tenant the specific property will appeal to and make sure it makes sense for the location.
Quote from @Allen Duan:
Hi Alex! I own a MTR management business with 25 MTRs in Los Angeles. I would target 1 bedroom units and/or 3 bedroom and larger. Could be SFHs or small multi family. Over the last 4 years, 2 bedrooms have performed the worse than the 1 bedroom or larger homes. I believe it's because individual travelers will choose the 1 bedroom and families prefer 3 or more bedrooms.
The right property pretty much anywhere in LA can work well as a MTR. You need to identify what kind of tenant the specific property will appeal to and make sure it makes sense for the location.
I browsed through a few of your properties. They look great! Do you hire an interior designer when setting up MTRs and STRs?
#1 Medium-Term Rentals Contributor
- Property Manager
- Los Angeles, CA
- 377
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#1 Medium-Term Rentals Contributor
- Property Manager
- Los Angeles, CA
Quote from @Kathryn Demesa Sebastian:
Quote from @Allen Duan:
Hi Alex! I own a MTR management business with 25 MTRs in Los Angeles. I would target 1 bedroom units and/or 3 bedroom and larger. Could be SFHs or small multi family. Over the last 4 years, 2 bedrooms have performed the worse than the 1 bedroom or larger homes. I believe it's because individual travelers will choose the 1 bedroom and families prefer 3 or more bedrooms.
The right property pretty much anywhere in LA can work well as a MTR. You need to identify what kind of tenant the specific property will appeal to and make sure it makes sense for the location.
I browsed through a few of your properties. They look great! Do you hire an interior designer when setting up MTRs and STRs?
Hi Kathryn! We've had a few studios as MTR arbitrage units before but they didn't perform well. Currently we have one we manage in a triplex.
Yes, I have a designer on my team. But our PM clients furnish the properties themselves before handing them over to us.
Quote from @Allen Duan:
Quote from @Kathryn Demesa Sebastian:
Quote from @Allen Duan:
Hi Alex! I own a MTR management business with 25 MTRs in Los Angeles. I would target 1 bedroom units and/or 3 bedroom and larger. Could be SFHs or small multi family. Over the last 4 years, 2 bedrooms have performed the worse than the 1 bedroom or larger homes. I believe it's because individual travelers will choose the 1 bedroom and families prefer 3 or more bedrooms.
The right property pretty much anywhere in LA can work well as a MTR. You need to identify what kind of tenant the specific property will appeal to and make sure it makes sense for the location.
I browsed through a few of your properties. They look great! Do you hire an interior designer when setting up MTRs and STRs?
Hi Kathryn! We've had a few studios as MTR arbitrage units before but they didn't perform well. Currently we have one we manage in a triplex.
Yes, I have a designer on my team. But our PM clients furnish the properties themselves before handing them over to us.
#1 Medium-Term Rentals Contributor
- Property Manager
- Los Angeles, CA
- 377
- Votes |
- 500
- Posts
#1 Medium-Term Rentals Contributor
- Property Manager
- Los Angeles, CA
Quote from @Kathryn Demesa Sebastian:
Quote from @Allen Duan:
Quote from @Kathryn Demesa Sebastian:
Quote from @Allen Duan:
Hi Alex! I own a MTR management business with 25 MTRs in Los Angeles. I would target 1 bedroom units and/or 3 bedroom and larger. Could be SFHs or small multi family. Over the last 4 years, 2 bedrooms have performed the worse than the 1 bedroom or larger homes. I believe it's because individual travelers will choose the 1 bedroom and families prefer 3 or more bedrooms.
The right property pretty much anywhere in LA can work well as a MTR. You need to identify what kind of tenant the specific property will appeal to and make sure it makes sense for the location.
I browsed through a few of your properties. They look great! Do you hire an interior designer when setting up MTRs and STRs?
Hi Kathryn! We've had a few studios as MTR arbitrage units before but they didn't perform well. Currently we have one we manage in a triplex.
Yes, I have a designer on my team. But our PM clients furnish the properties themselves before handing them over to us.
Hi Kathryn! It can definitely be done in the right location where there is demand for it. I know of many other operators who MTR by the room successfully. Padsplit has a specific service like this where they do it all for you. I’m happy to connect and help you make any decisions for a specific property you’re considering for this strategy.
