Travel Nurse, 30+ day stay business model

6 Replies

I have a property in Lakewood, WA and started renting rooms out in a SFR/1824 sq ft/3+ bed/2 bath. The property is a rambler with a large living room addition (which includes the other bath) that I converted into a studio/ househack while I was living there.

I happened to stumble across the travel nurse market because there 5 hospitals in the area all within 10-20 minute drive from property. 

Since I have become a digital nomad entrepreneur I have put a tenant into the studio (1 year lease) for discounted rent to help with the cleaning, yard maintenance, etc.

I am looking for creative ways to improve the cashflow...

1. How can I gain exposure to more markets besides Airbnb?  Tokeet? Guesty?

2. My thoughts are that if I can get better demand, I can charge a higher price per night?

3. Does it make sense to have a tenant to manage property?  I have been running numbers and it seems like I could get better results by leasing to a tenant at full market price and outsourcing the cleaning/ yard maintenace?

4. The elctricity bill seems to be much higher in the winter when I am not there. Can I negotiate w/ the electricity company? Is there a different heating system I could invest in to keep these costs lower?

5. I am also building relationships with the travel nurse companies and have found resources. Are there any other creattive ways to help me decrease vacancy, improve occupancy, and get the highest price per night?

6. Also, my insurance on this property jumped up 200% because I deeded it into LLC, how can I reduce this cost?

Thank you in advance!

1. Craigslist and Facebook

2. no

3. no way

4. no, but you can get 12 month average billing after you have the property for 12 months.

5. yes, it is your intuition and marketing skills.

6. no can do, they won't go for that, no no, no can do.

You need to clearly analyze having a longterm tenant VS. a stream of short termers. When you are remote. 

Longterms pay their own utilities usually and less vacancy 

Short terms are are a lot more move in and outs with damage, etc. And risk of getting a flake. Or someone who does NOT move out and are now a tenant. 

Why does a single traveler need an expensive 3BR house? 

Etc



Originally posted by @Justin Ash :

I have a property in Lakewood, WA and started renting rooms out in a SFR/1824 sq ft/3+ bed/2 bath. The property is a rambler with a large living room addition (which includes the other bath) that I converted into a studio/ househack while I was living there.

I happened to stumble across the travel nurse market because there 5 hospitals in the area all within 10-20 minute drive from property. 

Since I have become a digital nomad entrepreneur I have put a tenant into the studio (1 year lease) for discounted rent to help with the cleaning, yard maintenance, etc.

I am looking for creative ways to improve the cashflow...

1. How can I gain exposure to more markets besides Airbnb?  Tokeet? Guesty?

2. My thoughts are that if I can get better demand, I can charge a higher price per night?

3. Does it make sense to have a tenant to manage property?  I have been running numbers and it seems like I could get better results by leasing to a tenant at full market price and outsourcing the cleaning/ yard maintenace?

4. The elctricity bill seems to be much higher in the winter when I am not there. Can I negotiate w/ the electricity company? Is there a different heating system I could invest in to keep these costs lower?

5. I am also building relationships with the travel nurse companies and have found resources. Are there any other creattive ways to help me decrease vacancy, improve occupancy, and get the highest price per night?

6. Also, my insurance on this property jumped up 200% because I deeded it into LLC, how can I reduce this cost?

Thank you in advance!

Besides Airbnb try Vrbo. I get 95% of my booking from them and only a handful from Airbnb. Also advertise on FB marketplace.

I don't think you can negotiate with your electric company. What type of electric heat do you have, a heat pump? Do you have a gas line to your house? Gas is typically more cost effective.

@John
How effective is FB marketing for STRs? what seems to work? I actually have a good TripAdvisor strategy I plan to use soon


Originally posted by @John Underwood :

Besides Airbnb try Vrbo. I get 95% of my booking from them and only a handful from Airbnb. Also advertise on FB marketplace.

I don't think you can negotiate with your electric company. What type of electric heat do you have, a heat pump? Do you have a gas line to your house? Gas is typically more cost effective.

Originally posted by @Ken Latchers :
@John
How effective is FB marketing for STRs? what seems to work? I actually have a good TripAdvisor strategy I plan to use soon


Originally posted by @John Underwood:

Besides Airbnb try Vrbo. I get 95% of my booking from them and only a handful from Airbnb. Also advertise on FB marketplace.

I don't think you can negotiate with your electric company. What type of electric heat do you have, a heat pump? Do you have a gas line to your house? Gas is typically more cost effective.

I use FB market for my long term rentals. I have never used if for my STR as Vrbo keeps it slam full.

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