All Forum Posts by: Dennis Smith

Quote from @Nathan G

@Dennis Smith there are only two types of rentals: short-term and long-term. I suspect some YouTuber created this mid-term rental to show how clever they are.

Hi Nathan, When I just searched "MTR" on BP, there are almost 3 pages of blog posts this year in BP about MTR and probably many more that mention mid or medium-term rentals. There are at least 3 or 4 people who have courses on it so it is a real thing.
MTR is closer to STR than LTR because they are always rented furnished and can easily be converted to STR if you have a gap in bookings. Most bookings are 2 to 4 months and less than 12 so they are longer than STR and meet the criteria of 29+ days at a time so most HOAs & cities are OK with them.

@Brian Payne Yes, Jump right in is a strategy that has worked for many, however, I want to create an experience for them so I get repeat & referral business. I understand that I am in the hospitality business with STR & MTR unlike my rental business with LTR.

@Ron Brady Thanks a bunch! This is the type of answer I was looking for.  I do not have the time to look at everybody's videos and I can afford to pay someone for their time, experience and knowledge so I can get started and not make the same learning mistakes they did.

Hi @Michael Baum, I have watched several PB episodes about MTR, mostly for traveling nurses and insurance displacements and I am interested in learning more but I do not have time to watch everybodys videos on how to get started. I want a system to follow. I received good info from Josh Baldovino and Jesse Vasquez and I was wondering who else has a good course. 
It would be good if I could find something that makes sense in San Diego County but I am willing to go almost anywhere if the deal is right. I already own rentals out of state. I have a 1031 exchange coming up soon that I can leverage into $900K+ for one or more properties.

Who teaches the best class on MTR-Mid Term Rentals?

I am a Realtor in Encinitas and mostly worked in North County for the last 28 years. I admit I know little about MTR's but https://www.furnishedfinder.co...  will give you some stats on demand for the area. I tried searching BP for FF and "Furnished Finder" but it searches for each word, not a phrase. I did find an informative thread at https://www.biggerpockets.com/...  that discusses their results using the different platforms like AIRBNB, FF VRBO & Sabbatical Homes. Call me to chat at 760-212-8225.

@Steven Ellis and @Wesley Raye. As a Realtor in Encinitas I have watched the rise & fall & rise for 22 years.  My crystal ball agrees with the 2 to 3 year window of appreciation but at a decreasing rate.  That, followed with a year or 2 on a plateau then a small drop.  Encinitas only went down 20% in the last recession.  I would expect the same or less the next time due to smarter lending practices.
Encinitas is a buy & hold for the long term.  Of course, anything cash flows with enough down payment but realistically, buy and live here and enjoy the city & the appreciation.  Nothing detached under $700K available now and only 13 under $1M.  22 Pending and 107 sold in the last 6 months.  That is a 3 week supply of homes and it is tough to build in Encinitas so I would expect it will not get better soon.  Only 2 sold under $600K in the last 6 months. Here is a link to the last 6 months in Encinitas, detached.  http://paragonmls.sandicor.com/publink/default.aspx?GUID=4b0077f9-2d57-4e9b-9f04-d6fdf76c20ab&Report=Yes Go to the upper left of the page under Views and use the dropdown to get the one line list or "CMA".