Skip to content
×
PRO
Pro Members Get Full Access!
Get off the sidelines and take action in real estate investing with BiggerPockets Pro. Our comprehensive suite of tools and resources minimize mistakes, support informed decisions, and propel you to success.
Advanced networking features
Market and Deal Finder tools
Property analysis calculators
Landlord Command Center
$0
TODAY
$69.00/month when billed monthly.
$32.50/month when billed annually.
7 day free trial. Cancel anytime
Already a Pro Member? Sign in here
Pick markets, find deals, analyze and manage properties. Try BiggerPockets PRO.
x
All Forum Categories
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

All Forum Posts by: Tiffany Cohen

Tiffany Cohen has started 6 posts and replied 57 times.

Post: Marketing MTR & Handling Leads

Tiffany Cohen
Pro Member
Posted
  • Posts 57
  • Votes 43
Quote from @James Carlson:

@Valerie Bashiri

Beautiful looking space. Well done. 

We do medium-term rentals in Denver and Colorado Springs. We don't have any special system for working the leads. We post on Airbnb and Furnished Finder. FF is definitely our biggest source of leads. Anyone who comes in, I ask what's bringing them to Denver or Colorado Springs. (I personally think communication is a big indication of tenant quality, so I want to see them respond and answer a few questions promptly.) If they're interested, I send them our link to fill out a background and credit check, which they pay for. If it looks good, I take the first person who came in. If multiple people are interested, and good candidates, I tend to take the tenant who wants to sign the longest lease.

I don't really like Airbnb because I find their "remember to respond" emails obnoxious, and getting them to sign a lease outside of Airbnb can be tricky. (We require people sign a full lease.) 

Also, we make tenants give us 45 days notice of departure, so we have plenty of time to advertise it. We rarely have more than two or three days vacancy between stays. Finally, check out "American Nomads" by Erin Spradlin. It's a pretty easy read and has solid info in there about medium-term rentals. 


I like the 45 days notice. Which service link do you use for the background check?

Post: Shortest BRRRR Seasoning Period

Tiffany Cohen
Pro Member
Posted
  • Posts 57
  • Votes 43
Quote from @Remington Lyman:
Quote from @Amit Chawla:

HI BP,

Im sure this has been covered already but I am looking for some lenders in Ohio who would be willing to do a shorter seasoning period than 6 months on a BRRRR. The property in question is a 12 (possibly 13) unit apt building going through a full renovation. If I can do a refi-cash out in 3 months vs 6 months I will save roughly 7k a month on carrying costs, which would make the deal even better. I have enough budget for at least 6 months of carrying costs but of course if I can cash-out sooner I can move on to another project and save quite a bit of money in carrying costs which will go to my bottom line.

Looking to obviously cash-out from the appraised value after the renovation.  I know there are lenders who will give me a mortgage on the property prior to 6 months, but it will be based on the purchase price and not the appriased value.  

If anyone knows of any lenders in Ohio who would be willing to do a cash-out refi on Appraised value please send me their info so I can reach out and get things moving.


I can send you a list of Ohio here in Columbus, Cincinnati, and Cleveland, Ohio!

 Are you able to share that list with me as well?

Post: London Property Investors

Tiffany Cohen
Pro Member
Posted
  • Posts 57
  • Votes 43

I'd love to join. @Jennifer S.

Post: Booked Pricing Data/Research on MTRs

Tiffany Cohen
Pro Member
Posted
  • Posts 57
  • Votes 43

Thanks for responding. Thought would be great! 

Post: Booked Pricing Data/Research on MTRs

Tiffany Cohen
Pro Member
Posted
  • Posts 57
  • Votes 43

Suggestions on the best way to research monthly pricing information on MTRs in different markets to use for deal analysis? I've looked at Furnished Finder, Airbnb, Kopa and other means to see what other people are advertising for their units that would be considered good comps.  But is there any resource (similar to Airdna etc) that specifically focuses on  the MTR space? I'd like to see what people are actually getting or making on their monthly not what they are asking for in their listings. I also know some people say they typically get double what an LTR asks for the unit. I'm just looking for some reported data. Thanks!

Post: Mid Term Rentals in Madison, WI

Tiffany Cohen
Pro Member
Posted
  • Posts 57
  • Votes 43

No experience in your maket but I'm researching other markets.  You can also try the website Kopa for more insight. Also are you near military bases, refineries or universities? Also good avenues for MTRs. Call their HR departments, housing departments or management and ask best places to post your listing. Good luck!

Post: What Hospitals have the highest demand?

Tiffany Cohen
Pro Member
Posted
  • Posts 57
  • Votes 43

Also take a look at the website Kopa which is similar to Furnished Finder. 

Post: What Hospitals have the highest demand?

Tiffany Cohen
Pro Member
Posted
  • Posts 57
  • Votes 43

Yes look at FF stats and also if you search how many job openings are in particular town and cross that with what kind of rentals in those towns are available it should give you more insight.

Post: Renter screening for MTR

Tiffany Cohen
Pro Member
Posted
  • Posts 57
  • Votes 43

If booking off an OTA platform you definitely need to protect yourself especially if your state has tough regulations that side with tenants. You can pay for software such as https://superhog.com/

Post: Marketing MTR & Handling Leads

Tiffany Cohen
Pro Member
Posted
  • Posts 57
  • Votes 43

Here's a site that can also help and lists another place you can post your listing. https://blog.bluepipes.com/how...