Travel Nurse MTR vs. Multi-Family 4-Plex

[Max McQueen]

Hey BP Family, I'd love your insight on this.

I'm currently weighing two intriguing options: house-hacking a 4-plex or venturing into the realm of MTR with a single-family home or duplex, particularly for renting to travel nurses. While the former presents a classic investment opportunity, the latter has caught my eye for its unique and potentially lucrative approach.

As someone relatively new to this field, I'm aware that there might be aspects I haven't considered or opportunities I'm overlooking. Your insights, advice, and recommendations would be invaluable to me in this decision-making process.

Thanks!

[Heather Loyal]

Our first MTR experience was a 4-plex, feet-to-the-fire style.  We use one of the units for ourselves and rent the other (3) for 30+ day stays.  We've been up and running since around October last year.  It is really important for us to keep the units booked to cover the monthly overhead (higher monthly rates to cover the 4th unit not being rented).  Be sure you keep this in mind.  I often wonder if it would have been better to have started with a single family as our first, to learn the ropes, and then graduated to the 4-plex model.  It is a lot to juggle.  We have a normal REI business with this 4-plex on the side and it takes some juggling.  As a MTR newbie, I'm learning how important it is to constantly be updating your listings and keeping track of which platform your guest comes from, all the while mixing in STR stays to cover the gaps between the mid-term guests.