Medium-term rentals are not new to real estate investing, but most investors have hardly heard of them. For years, corporate travelers would rent a room, apartment, or small property for a year or less. These travelers would pay a premium to avoid long-term leases and stay close to their work. But, with the rise of traveling nurses and digital nomads, the medium-term rental strategy is in a revival when investors need it most.
Joining us on today’s show are investors, coaches, and authors, Sarah Weaver and Zeona McIntyre. Their new book, 30-Day Stay, is a masterclass in the wonderful world of medium-term rentals, walking new investors through everything they need to double their cash flow almost overnight. This strategy sounds too good to be true, but even a short-term rental king like Tony Robinson says that he’s intrigued. So is there a catch to this no vacancy, high cash flow, and often headache-free type of housing?
In this episode, you’ll learn the pros (and very limited cons) of investing in medium-term rentals. You’ll also hear which markets this strategy works best in, what type of software you’ll need to run one, and how medium-term rentals are starting to rival vacation rentals! If you’re looking for an investment with a high ROI, that doesn’t need to be minutes from a beach, this strategy is for you!
This is Real Estate Rookie episode 232.
So actually we compare it mostly to a long term rental. And a lot of the people that are getting into medium term rentals do come from the long term rental side and go, “Ooh, I think I could turn these great rentals that I’ve had for a while into medium term and make them more cash flowing.” So what we say is look at the way that you’re analyzing your long-term rental, but then put in utilities and put in furnishing. So it’s really not that different. The short-term rental, there’s a lot more expenses, and so that complicates it a bit more. And in short term rentals, I don’t…