All Forum Posts by: Joel Philson

I'm open to full- or part-time employment or contact based work. So long as there isn't any inherent exclusivity, I'm game. DM me if you're interested 🙂

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Quote from @Bonnie Low:

The combination of the two is not a ridiculous idea. People are doing it and having good success. People are also doing it and failing. It is very situational. You really need to understand your market. Who is traveling there and for what reason would they be looking for a midterm rental? What is the supply of similar units? How much are they renting for? What is the best configuration (bed/bath count, building type, etc) in your area and for your target clientele? What does it take to be competitive in your market and how are you going to market it? These are the factors that will determine your success. A good place to start is by searching the stats page for your city on Furnished Finder. You'll see how many units there are, the number of searches in the last 12 months and can view the listings. While FF is only one source, it's a good starting place. Also look to see if there are extended stay-type hotels in your area as that is a good indicator of market demand. Who are the employers and what major construction projects are underway? Are there level 1 trauma center hospitals in your location? Are people moving into or out of your city? All of these are things you want to look at when evaluating rental potential. @Erin Spradlin is an experienced MTR operator in the Denver area and has published some books on this topic and has a Youtube channel. She is extremely knowledgeable and would be a good source of information as a starting place.

Ok, thank you! I'll definitely give those a look.

0 Votes

I'm brand new to investing (aka no experience, no doors) and have heard on multiple podcasts that short term arbitrage can be an effective way to get started. I also keep hearing that STR is rather saturated overall, whereas midterm is chronically undersupplied. Is it a bad idea to do midterm arbitrage with a willing owner? What unique considerations might there be?

I asked this question in the Starting Out section, and don't have any clear answers yet. Any help over here would be greatly appreciated.

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Quote from @Anne Doyle:

RACHEL GAINSBRUGH. Short term gems, mid term gems. Try her. She is amazing. She is positive, support, never mad at people for asking questions or having a hard time. She is supportive. She offers many courses for free. As far as arbitrage for mid term, ask your landlord. MTR is not a short term rental, so it would probably be more similar to long term rental

Does she run/teach short term arbitrage? I've heard multiple podcasts where this has been mentioned as an effective beginner strategy, and midterm keeps coming up as chronically underserved. My question is whether or not the combination of the two is a ridiculous idea. Is there anyone else out there doing it, or would I be the first?

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I'm a brand new member of the BP community, been watching BP and RE Rookie podcasts for a while. I have limited capital, but am very interested in midterm rentals. I'm wondering if renting a 2-3 room apartment and setting it up as a midterm rental is a viable option to get started, or if it's just plain stupid. I understand that I would need to find an operator willing to do business with me; I'm simply asking if it makes sense, and if it would be a scalable option to start my first handful of units.

Thanks, everyone!

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Hi, I'm a remote bookkeeper looking to leverage my interest in real estate to provide service to investors who use QuickBooks Online. Weekly bookkeeping, QBO cleanup and end of period services available. Please DM if you are interested.

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All Forum Posts by: Joel Philson

Joel Philson has started 3 posts and replied 6 times.

Post: Remote Bookkeeper looking for clients

Post: Is midterm rental arbitrage a good idea?

Post: Midterm rental arbitrage?

Post: Is midterm rental arbitrage a good idea?

Post: Is midterm rental arbitrage a good idea?

Post: Remote Bookkeeper looking for clients