All Forum Posts by: Zachary Deal

Hey @Joshua Telles! Congrats on the new MTR. Understanding your local competition is critical to success and will allow you to accurately price and furnish your MTR. The most popular sites for MTR besides Furnished Finder tend to be Airbnb, VRBO, and Zillow. Facebook and ALE Solutions (for insurance placements) can be good places as well and I would recommend reaching out directly to the hospitals that are close by. Casting a wide net and exploring all avenues in your area (especially at first) is key to success in the MTR space.

As others have mentioned it can greatly depend on your area, strategy (D2C vs B2B), property type, level of furnishings, etc. Generally I think planning for 20% vacancy when starting out is smart as it can take some time to get traction on your property and aiming for 1.5 to 2 times the LTR rate. 

Definitely make sure to decorate your home well and get professional photos taken. It can make a big difference and help you stand out from the competition! 

You could try posting in the classifieds sections of BP for a cleaner but google may be the best bet.

I think $3,000 sounds like a reasonable starting point given the range on Furnished Finder. Have you check Airbnb/VRBO and Zillow?

I would recommend including utilities in the MTR. It will make it much easier for everyone and is generally expected to be included in the higher monthly rate (compared to an LTR)

I would recommend checking out Airbnb, Zillow and Furnished Finder to see what else is out there in terms of competition to get an idea of pricing and level of furnishings. 

I think casting a wide net is the best approach. As Lindsey mentioned Airbnb/VRBO and Zillow are very popular spots for posting MTRs. Furnished Finder is a great option as well. Some people do have success on Facebook pages but it can be a bit challenging as Lindsey mentioned. Reaching out to insurance placement companies like ALE solutions and forming a relationship with a rep can be lucrative too.

I think this is really a personal preference. I would think meeting somewhere in the middle would be the best option for all parties. You'll lose a few days rent but ultimately a positive review and future recommendations from the nurse may be more valuable than that. Curious what you decide on so let me know!

As Lindsey mentioned a DSCR loan could be a great option to fund this property if it is for investment purposes only and you will not be occupying it!

Agreed with all the above interpretations. That's how I'm seeing it as well but you could always check with a local RE attorney to double check

Hi @Stacy McElroy as Bonnie mentioned Furnished Finder is still the leader in the space so definitely start your research there. I would also recommend checking out Airbnb/VRBO (for 30+ day stays) as well as Zillow. Those 4 tend to be the most popular sites for mid term rental listings. Reaching out directly to local hospitals in Wichita could be a good idea as well to get a sense of how many traveling nurses they typically have and where they find housing. Good luck!