BiggerPockets Real Estate Podcast 780: The Step-by-Step Guide to Building a Medium-Term Rental Empire w/Jesse Vasquez
Gallo Winery Contract
- Jesse secured a contract with Gallo Winery for their traveling engineers.
- He provided bikes for easy commutes, highlighting the importance of amenities.
MTR Location Selection
- When selecting an MTR location, consider job growth, demographics, and future potential.
- Look for areas with incoming companies, new hospitals, or infrastructure projects.
Starting MTRs
- When starting MTRs, begin networking before purchasing a property.
- Outbound calls to companies and agencies are crucial for securing contracts.
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!
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!
Links from the Show
Listen to All Your Favorite BiggerPockets Podcasts in One Place
Learn About Real Estate, The Housing Market, and Money Management with The BiggerPockets Podcasts
Get More Deals Done with The BiggerPockets Investing Tools
Find a BiggerPockets Real Estate Meetup in Your Area
Pick Up Some of David Greene’s Best Selling Books
Medium-Term Rentals: How to Get BIG Cash Flow Out of Small Properties
Book Mentioned in the Show:
30-Day Stay by Zeona McIntyre & Sarah Weaver
Connect with Jesse:
Click here to listen to the full episode: https://www.biggerpockets.com/blog/real-estate-780
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