Your real estate cash flow suffers. Rent growth is slowing down, mortgage rates are on the rise, and real estate prices remain in place. SO where can you find more room to enjoy with your rental property? The answer is medium-term rental! Until a few years ago, medium-term rentals, also called business rental or hiring traveling nurses, were the sleepy investment strategy that only experienced investors like jesse vasquez was aware. But now they have become (no doubt) the best rental property on the planet.
With mid-term rentals, you can often make four (or more) times the rent than an ordinary rental. You will also have minimum turnovermore professional tenants, and being able to reserve your place at a high monthly rate For four, five or six months at a time. They are easier to manage than short-term rentals but have noticeably more cash flow than long-term rentals. So how do you participate in this high cash flow craze?
We took Jesse back to the show for a step-by-step tutorial on starting, managing and making a mid-term rental profitable. It gives detailed answers on how much does it cost to startTHE best places to buy (or rent), how to get the biggest leases from the biggest companies, what amenities customers expect, and what to charge. If you want to take your rental property from break-even to the bank, this is the strategy for you!
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In this episode we cover:
- The mid-term rental strategy explained and how to use it to earn 400% more cash
- Short-term rental regulations and why many hosts may need to transition to mid-term stays
- The best real estate markets for medium-term rentals and signs of low vacancy
- Unique amenities that will get you CONSTANT business (bikes, cars, grocery delivery, and more!)
- Lease contracts and how to use hospitals, insurance companies, construction teams, etc. fill your rental
- Whether or not allow pets in your rental is ALWAYS the right decision to make
- And SO Much more!
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Note by BiggerPockets: These are opinions written by the author and do not necessarily represent the opinions of BiggerPockets.