Quote from @Jung-Jin Shim:
I've been searching for rental properties in Columbus for months, but I've noticed that it's extremely difficult to find a property that's profitable with high interest rates and already significantly increased property prices. Some say there are still opportunities in Columbus since it's growing, but I'm unsure if investing with the hope of future appreciation is a good idea when current cash flow is very weak. Some suggest investing out of state for better cash flow, but that's not an option for me at this time.
Recently, I ran into a realtor who suggested mid-term rentals to construction workers as a more profitable investment model. She mentioned that she's doing it herself and finding it very profitable. Before taking any action, I'd like to research whether this model is truly profitable and feasible. Has anyone done this or heard about this type of rental? How do I attract construction workers as tenants? How does this differ from long-term rentals or mid-term rentals for travel nurses?
Thank you!
We have cash flowing markets nearby such as Dayton, Newark, and Lancaster that you can check out. Also, if you're ok with value add or C location properties, you can find cash flowing rentals in Columbus
Midterm rentals are a good way to maximize cashflow with the right systems and marketing in place. Location will be very important as well. Whether it's construction workers or nurses, you'll want to be near where they work and understand the length of their contracts.