All Forum Posts by: Peter Baldridge

Hi Peter, are you solely using Furnished Finder to assess the supply of MTRs in the market? Many landlords don't update their availability so FF can be skewed. I think you might need to consult with a local MTR expert in the area and/or dig a bit deeper into the market. I always use a mixture of sources between Furnished Finder, Zillow, DPGO, and other sites to understand the supply and demand of MTRs in the given market.

My rule of thumb is that to invest in a MTR in the area I need to have at least 3 pillars of demand. Travel nurse demand is down quite a bit so I wouldn't just count on housing traveling medical professionals.

Thanks Jamie, I didn't know about that FF detail. I don't think the area that I'm looking at has more than one pillar of demand. It might be time to look at a different market.

0 Votes

Cleveland, Ohio

Quote from @Eric Goldman:

alot of my friends do super well with mid term by hospitals in ohio. would be glad to connect you to them.

That would be great Eric! I'd love to learn more from someone who's an expert in the field.

0 Votes

Cleveland, Ohio

Quote from @Nicole Heasley Beitenman:

I'm also in NEO. It may be that the market it already oversaturated; I imagine that point is coming soon. Furnished Finder has info on how many people are searching for MTRs in a given market. Have you looked into their landlord resources yet? And @Zachary Deal also gave you perfect advice.

Thanks Nicole. I will check out the Landlord resources!

0 Votes

Cleveland, Ohio

Hey Zachary, I was looking at Furnished Finder. Thanks for explaining the nuance around the direct bookings. I'll take a look at VRBO and AirBnB as well.

1 Vote

Cleveland, Ohio

I'm wondering if anyone can help me answer this question.

I'm already invested in long term rentals in a smaller market outside of Cleveland Ohio. I'm interested in mid-term rentals for travel nurses. There's a regional hospital in the area, and I see a few mid term rentals located next to it. However, I've noticed that most of these rentals are completely vacant and show no bookings in the months ahead. Worse, they have no reviews.

My question is: is there simply no demand in this area, or is there something that I'm missing? Secondly, does anyone have a good metric for evaluating mid-term rental demand?

I would appreciate any and all feedback even if it's just telling me that I'm missing the obvious.

1 Vote

Cleveland, Ohio

Historically speaking, rents don't decline much or if at all during recessions. If you think about it, a recession means less people can afford to buy and so more people end up renting. What you have to worry about is tenants who can't pay due to job losses. You could reduce the odds of that happening by buying in areas with recession-proof or well-diversified industries.

0 Votes

Thanks for your reply Bob. I'm not quite ready to make cash offers, but when I am, I'll let you know.

0 Votes

Howdy,

I'm having a tough time finding deals on MLS, and I'd love to see what off market deals are out there.

I'm looking to connect with wholesalers in the Youngstown/Canton/Boardman/Girard areas. I'm mainly interested in 3 to 4 bedroom houses.

Thanks in advance,

Peter

2 Votes

All Forum Posts by: Peter Baldridge

Peter Baldridge has started 2 posts and replied 8 times.

Post: Evaluating Smaller Markets - Ohio

Post: Evaluating Smaller Markets - Ohio

Post: Evaluating Smaller Markets - Ohio

Post: Evaluating Smaller Markets - Ohio

Post: Evaluating Smaller Markets - Ohio

Post: Thoughts on this 4 unit deal?

Post: Looking to connect with wholesalers in Northeast Ohio

Post: Looking to connect with wholesalers in Northeast Ohio