All Forum Posts by: Anthony Cortello

 Yes, it would definitely.  It can collect rent, apply your late fees,  screen tenants, background checks, etc. The only thing it doesn't do it help you with any maintenance issues.  You'll need to have your boots on the ground for the maintenance but anything else you can do on the Innago.com.  You can also message and communicate with your tenants through the site.

Hi Evan, I just started using Innago.com last month and so far it's been quite easy to manage.  It's free for owners!

I just converted a 2/1.5 townhome that has been a LTR for the last five years or so in my portfolio.

Renovated the place including kitchen, bathrooms, flooring, paint, & fixtures, cabinets, countertops, etc.  Re-did the unit with an eye toward traveling medical professionals. Upscale furnishings, great beds, high speed internet, flat screen TVs, etc. 

I did the same thing earlier this year and had more demand for the traditional LTR. I rented the unit with bills paid for 9 months without furniture, it wasnt what I wanted but it did work out. 

Great neighborhood. B+ to A. Super quiet. Very safe. Next to one medical facility and within 10 minute drive to two additional medical facilities. Unemployment rate in the market is less than 2.8% and falling. 

Before the conversion, I could get , $1,600-$1,700 for the place unfurnished and with no utilities paid by landlord. 

Placed the unit in service a couple of weeks ago. Furnished finder. Zillow, Trulia, Hotpads. Had it placed on the MLS as well.

It is competitively priced $2475. That’s $25 less than other units of comparable size and makeup. Same neighborhood. My unit is objectively higher quality in furnishings, style, & finishes. I figured we would start lower and build a quality rep & a book of former customers for repeat business. 

No bites in two consecutive weeks. No inquiries. No showings. No matches in furnished finder. 

Reduced the listing price to $2,350 today.  We will see what happens over the next couple of weeks. 

This is in no way close to the double or triple revenue above the rate for this unit as an LTR that has been cited as pretty standard return on forums and podcasts about MTR’s. 

Any lower and I’d run the risk of being upside down when someone runs the HVAC at 50 degrees during the Texas summer versus what I’d make off of an LTR. 

Need some advice or suggestions. Either this MTR thing is horse **** or I must be doing something wrong. 

 You can find private lenders to secure multiple properties - the key will be how much you are putting for down payment and equity ratio on that other property. 

I may be proven wrong and everything just picks up, but I get the sense that the MTR strategy had a season and it is past or at the very least it is waning. 

It's either that or the strategy just isn't a winner in a broad sense across many American markets. Buy & hold rentals works across the nation. Better in some areas than others, but it works. BRRR was a very broad winning strategy. Again, better in some than others, but still a winner. Fix & flip is a broad winner across just about every single market. Margins are better in some than others.

It just seems this may not be a broad winner and was overhyped among the various real estate investing communities. 

I just converted a 2/1.5 townhome that has been a LTR for the last five years or so in my portfolio.

Renovated the place including kitchen, bathrooms, flooring, paint, & fixtures, cabinets, countertops, etc.  Re-did the unit with an eye toward traveling medical professionals. Upscale furnishings, great beds, high speed internet, flat screen TVs, etc. 

Great neighborhood. B+ to A. Super quiet. Very safe. Next to one medical facility and within 10 minute drive to two additional medical facilities. Unemployment rate in the market is less than 2.8% and falling. 

Before the conversion, I could get , $1,600-$1,700 for the place unfurnished and with no utilities paid by landlord. 

Placed the unit in service a couple of weeks ago. Furnished finder. Zillow, Trulia, Hotpads. Had it placed on the MLS as well.

It is competitively priced $2475. That’s $25 less than other units of comparable size and makeup. Same neighborhood. My unit is objectively higher quality in furnishings, style, & finishes. I figured we would start lower and build a quality rep & a book of former customers for repeat business. 

No bites in two consecutive weeks. No inquiries. No showings. No matches in furnished finder. 

Reduced the listing price to $2,350 today.  We will see what happens over the next couple of weeks. 

This is in no way close to the double or triple revenue above the rate for this unit as an LTR that has been cited as pretty standard return on forums and podcasts about MTR’s. 

Any lower and I’d run the risk of being upside down when someone runs the HVAC at 50 degrees during the Texas summer versus what I’d make off of an LTR. 

Need some advice or suggestions. Either this MTR thing is horse **** or I must be doing something wrong. 

Interested in knowing if anyone has listed their MTR on the MLS simultaneously while on sites like Furnished Finder, Airbnb, and Zillow for additional visibility? What are the pros and cons of this and how have you managed the listing between the MLS and the MTR-friendly sites?

It may be difficulty to identify what stage you're at in your investing career, especially early on! Have you heard of The SMARTER way to invest in Real Estate? 

BiggerPockets has broken down the 7 SMARTER phases of Real Estate investing and we are interested to see what stage you are in! Please post a reply below to see if any other members of the community are in the same phase as you!