All Forum Posts by: Lina Truong

@Lina Truong definitely submerse yourself in MTR learning for at least 2-3 months. Ebooks, podcasts like @Bonnie Low suggested and start running numbers on every deal you see until you know how it all works. Once you have ran through about 3 months or so of this and penciled out 50-100 deals for fun, I would talk to a local agent and start the process of looking. Make sure you are clear on your objective so they are not showing you deals that are not worth looking at. If you have any loan questions feel free to reach out. Wishing you great success!

Hi Lina from Texas-

Congratulations on your interest in investing in mid-term rentals and you are wondering how and where to get started.

I get this question frequently from investors.

Sometimes and investor is looking to keep their property cashflow positive as insurance and taxes have squeezed cashflow by turning units into mid-term or short-term rentals.

First off, ideally, the property will cashflow as a long-term rental should something disrupt the mid-term rental model.

You will also want to have the property be near where there would be a demand for mid-term rentals (hospitals, universities, research centers).

Monthly rents for mid-term rentals are about 20% (+/-) higher than unfurnished similar long-term rentals.

There are property managers that will manage mid-term rentals for you and I always advise my clients to use property managers to keep their investment as passive as possible and for compliance issues related to Fair Housing Laws and local regulations.

To Your Success!

Hi Lina, I'd recommend finding a local agent that is familiar with the investment properties and law, permits, regulations for STRs/MTRs in Kyle, Texas. If you partner with the right agent and use the advice and mentorship that Bonnie's group is offering, you should be in good shap! Also find a good lender that is well versed in STR/MTR loans to make sure you qualify for financing (if you need it) and that they can execute the loan smoothly

Hi Lina -- I'm based in Dallas but wouldn't know the laws for the city and county of Kyle, Texas. Seek out local real estate groups to get an idea and network around local regulations. But the good news is Texas is a great spot for MTRs. I'll also add that Bonnie's group is a great resource with operators from 0-Bonnie. LOL.

Weclome!

Thank you so much