All Forum Posts by: David Rodriguez

Quote from @Vivian Yip:

Hey @David Rodriguez 

I have 5 MTR's that are 2 bedrooms in Austin and they do really well.  They are in B class neighborhoods close to A neighborhoods and good proximity to hospitals, downtown, The Domain, etc.  I get more than 2x rent for each unit. 

I have mine really nicely furnished with good quality furniture and high end finishes (quartz, stainless steel appliances).  I recommend 2 Queen beds (King if you can) over choose two twins.  

You can also ask members in my FB group, there are 3.5K people running MTRs in my group! 

Thank you! I am still heavily debating on whether to go LTR or MTR with this 2 bed/2 full bath. I did some decent renovations on it, and it's very close to downtown Phoenix (8 minutes - no freeway needed) and close to the main university hospital in downtown as well. I would just need to invest in furnishing it very well with better appliances mainly. My main concern is not being able to cashflow the property using the LTR route.

Quote from @Nicole Heasley Beitenman:

Quote from @Jonathan Greene:

2 bedroom single-family homes are great rentals because they cost way less to buy and don't rent for much less than a 3-bedroom home.

I'll second this. We focused on 1 and 2 br properties long before MTRs became trendy because they have lower price points, less competition, lower expenses, and while the tenant pool is smaller, so is supply. These tenants tend to stay longer because they know they'll have a harder time finding a smaller house. 

@Nicole Heasley Beitenman

So overall you would recommend just keeping this as a LTR? It is a true 2 bed/2 full bath, so I'm assuming it would rent similarly to a 3 bed/2 bath in the same area. I was mainly tempted to use it as a MTR because of how close it is to downtown Phoenix and the University Hospitals, etc. I just worry the property won't cashflow, but I know that is hard to find it today's market. I'm okay just keeping the equity increase for now, but any tips on how to raise rent given the renovations I did already? 

Quote from @Jackson Harris:

Quote from @David Rodriguez:

I purchased a 2 bed, 2 bath home roughly 8-10 minutes from Downtown Phoenix. It was built in 2002, and I renovated the entire flooring by removing the original tile and putting Vinyl flooring in, there is no carpet within the house. I redid the master bathroom by removing the tub and putting in a standing shower with white granite looking tile, and a custom glass shower door. Replaced both toilets with brand new ones, replaced the 2 car- garage door with a brand new one, had all the walls freshly painted, put brand new baseboards in, and had the kitchen cabinets painted as well. The house is also furnished with a solid wood no spring couch, and a solid wood round dining table, and a king sized bedroom set in the master. My question is:

Is this house better off being rented long term for tenants or should I gravitate toward a midterm rental for possible traveling nurses or traveling professionals who want a cleaner, more up to date space, closer to downtown? I am thinking since it is only a 2 bedroom this may be a better choice versus trying to find a smaller family to rent it out too. Does anybody have any good experience with mid term rentals in phoenix? 

 Hey David, I'd recommend the LTR route if you can. Makes your life as a property manager easier, and provides consistent rents coming in. Mid terms need to be very quality and can take more time and marketing efforts to get rented.

Thank you! The overall consensus seems to be that LTR will be better given my situation. I had another local realtor tell me it might be worth a shot at least trying to fill it as an MTR for the first 3 months of 2025 as I don't owe my first mortgage payment on my new home purchase until March 1st of 2025. If MTR fails I can always pivot to a LTR model around April when people are looking for new homes to rent anyway. If I can afford the financial loss of it not being rented those months (2K mortgage) then maybe it's at least worth trying? I just know for a fact I won't cash flow on this property if I do an LTR since my monthly payment is just over 2K and the rents in my area even for a 3 bed 2 bath are only 1850 or 1900 at most.

So I do want to clarify a few things about how my property is furnished that I assumed was implied, but my potential MTR does have the following:

- Washer/Dryer

- 75 inch mounted TV 

- Fridge/Microwave

- Kitchen Appliances (silverware, pots/pans, soap dispensers, coffee maker, cutting boards, etc)

- Multiple large mirrors on walls, fake plants around the home, living room carpet/coffee table in additon to couch.

- Full office with a desk and a deskchar plus filing cabinet.

- Bathroom towels, hair dryer, soap, toilettires, etc. 

- Grill in the backyard.

I'm not sure if this makes a difference? This is all in ADDITION to of course having the obivous (bed set in the master plus a couch)

The main reason im debating is because its a 2 bed. I'm nervous I will have hardly any cash flow with this property if I rent it as a long term rental. I feel there is potential for it to be a good MTR if I advertise and take pictures properly. Im currently reading "30 day stay" by Zeona McLntyre and Sarah Weaver to help me understand how to maximize the market of my property.

I purchased a 2 bed, 2 bath home roughly 8-10 minutes from Downtown Phoenix. It was built in 2002, and I renovated the entire flooring by removing the original tile and putting Vinyl flooring in, there is no carpet within the house. I redid the master bathroom by removing the tub and putting in a standing shower with white granite looking tile, and a custom glass shower door. Replaced both toilets with brand new ones, replaced the 2 car- garage door with a brand new one, had all the walls freshly painted, put brand new baseboards in, and had the kitchen cabinets painted as well. The house is also furnished with a solid wood no spring couch, and a solid wood round dining table, and a king sized bedroom set in the master. My question is:

Is this house better off being rented long term for tenants or should I gravitate toward a midterm rental for possible traveling nurses or traveling professionals who want a cleaner, more up to date space, closer to downtown? I am thinking since it is only a 2 bedroom this may be a better choice versus trying to find a smaller family to rent it out too. Does anybody have any good experience with mid term rentals in phoenix?