All Forum Posts by: David Worker

@Nathan Gesner great answer!

 @Amanda Lindsay Which property management software did you end up going with and how is your experience? I’m currently managing 45 doors and looking to add a property management software, thanks!

@Brian Lloyd Trieu-Mallari it's Worker Construction LLC. Yes we're based in Springfield.

Hi Brian yes Springfield is a good market for MTR with a growing healthcare industry. I have one MTR now in Springfield. I just finished the project in October and have someone living there now on a 3 month contract. I found the tenant through Furnished Finder. I have a carpentry/handyman company and we did most of the work ourselves. You can reach out to Greg at Springfield Real Estate for property management help.

Thank you that was very helpful! With the minimum stay being 30-31 days, do you just have them sign a month to month lease? How much notice do you require them to give you before they move? 

Hey Springfield Illinois community, I have some questions about medium term rentals in Springfield, IL. I am a long term rental landlord and this is my first stab at a medium term rental.

1. What kind of vacancy rates do you typically have?

2. How do you like to find your tenants? (Furnished Finder, Direct relationship with the hospital, ect.)

3. What is your minimum staying requirement?

Thank you!

-David

Hey TJ,

I’ve been tempted to get a coach or join some type of group to help me think big and stay focused. Here’s a couple recommendations:

1. Brandon Turner has a mastermind group called The Better Life Tribe. He also has a new podcast that is fantastic.

2. Listen to the audiobook “The One Thing” to help prioritize your time and maximize your outcomes.

The cash flow may get wiped out but the tenants are still paying off the mortgages and rents will still continue to rise, so it’s not all bad!

Some areas around the hospital keep up with their properties and others have a lot of deferred maintenance. I’d recommend confirming that the property you locate isn’t on a janky block before buying. On the upside, there’s been a lot of big improvements to the city currently happening (Capitol building remodel, adding underpasses for railroad tracks, new public transportation facility).