Your real estate cash flow is suffering. Rent growth is slowing, mortgage rates are rising, and property prices are staying put. So where can you find more room to profit with your rental property? The answer is medium-term rentals! Until a couple of years ago, medium-term rentals, also called corporate rentals or traveling nurse rentals, were the sleepy investing strategy that only experienced investors like Jesse Vasquez knew about. But now, they’ve become (arguably) the best rental property on the planet.
With medium-term rentals, you can often make four (or more) times the rent than a regular rental. You’ll also have minimal turnover, more professional tenants, and be able to book out your place at a high monthly rate for four, five, or six months at a time. They’re easier to manage than short-term rentals but have substantially more cash flow than long-term rentals. So, how do you get in on this high-cash flow craze?
We brought Jesse back to the show for a step-by-step tutorial on starting, running, and profiting with a medium-term rental. He gives in-depth answers on how much it costs to start, the best locations to buy (or rent), how to get the biggest rental contracts from top corporations, amenities guests will expect, and what to charge. If you want to take your rental property from break-even to making bank, this is the strategy for you!
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In This Episode We Cover:
- The medium-term rental strategy explained and how to use it to make 400% more cash flow
- Short-term rental regulations and why many hosts may need to switch to medium-term stays
- 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!)
- Rental contracts and how to use hospitals, insurance companies, construction crews, and more to fill up your rental
- Whether or not allowing pets in your rental is EVER the right move 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.