All Forum Posts by: Terrell Hill

Hey E.S. I have since gotten out of my room rentals and moved in to the commercial space and the Short term rental space. Given your local regulations you might just wanna furnish a couple of your houses and rent them out to Travel Nurses/Students/Professionals. Easy money when set up correctly. I wish you the best!

Money 1st. I would work on building relationships with commercial mortgage brokers. My broker searches every morning, all the loan products that these Commercial Lenders come up with daily. There are hundreds if not thousands of banks out there that change the products they offer daily to compete. (The financial deck is frequently being reshuffled).Coupled with  building Commercial broker relationships.

I believe that we are all immigrants at 1 capacity or another. Be thankful for where you are and take advantage of your opportunities. Most importantly " The Golden Rule" never fails! Congratulations!!

Over the last  few years most the scammer inquiries have come via VRBO. I think it is holes in their algorithm. You can usually spot them by the old " My company is paying with a check story". I just state NO Checks and keep it moving. 

Looking forward to it!

Keep in mind if your core market is students your rehab cost for units at the end of the semester can be costly. Students are not the most caring when it comes to doors appliances etc. Given your area a STR might work well for you also.

1. Guest pay ahead

2.Guest have and exit date

3. Rents are typically 2x-3x

4. Units are always in for sale condition.

Just my 2 cents.

Ditto what John Underwood said! However, I have converted LTR units that I have had with no W/D in to STR and have had no problems at all as long as the guest is aware upfront. You will get more per night and longer stays with W/D in place though.

Hey Adam! Sorry for the late reply! Ownerrez has done it all for me.

I love the idea! I am in the process of doing my due diligence on converting a small motel in to short term rentals. My thoughts are if you update and design each unit and possibly give each unit a small fenced backyard. Update the curb appeal so it doesn't look like a Motel, I think that up to $150 per night could be charged. I have done this in areas where I thought there would not be the type of clientele that I would prefer and boy was I wrong I am booked solid. The Digital Nomad revolution is real! People can work from anywhere that they want to, even if it is just for a scenery change. Good luck! Feel free to reach out.

Is There a major hospital close or educational facility? Travel Nurses $600-700 and higher per/rm,per/mo.13 wk stays.Or multiple Travel Nurses and Professional mix.