Real Estate Agent · NH & MA · Member since 2021 · 457 posts · 291 votes
Has anybody had any success doing a mid term rental strategy in any of these areas? Anything to look out for? They all have hospitals very close, I just am struggling to estimate returns at the moment. Any insights here? I've looked on furnished finder for demand for specific cities, but that doesn't easily translate to revenue in my head
Investor · Boise, ID · Member since 2019 · 233 posts · 188 votes
3y
@Christian Ehlers you hit the nail right on the head; MTR retursn and translation of revenue is a bit of MacGyver process hahaha.
My unconventional process when using Furnish Finder is placing the "move-in date" a month ahead for the areas you are looking, and analyze the properties that are currently booked and will be "Available on {Future Date}." Sometimes it can be a lot but you can start to 1) understand the demand and 2)analyze the competition/property types/amenities/price/etc. Next, I go over to AirBnB and search for the 30+ stays only to dive deeper, and hopefully you can begin to create a range of properties/size/amentities and the revenue/returns you potentially can hope for.
Then, it would be research hosptials, what Level there are (1,2,3) and contacing their agencies/recruiters to better understand demand/need. Hope this provides some value!
@Christian Ehlers you hit the nail right on the head; MTR retursn and translation of revenue is a bit of MacGyver process hahaha.
My unconventional process when using Furnish Finder is placing the "move-in date" a month ahead for the areas you are looking, and analyze the properties that are currently booked and will be "Available on {Future Date}." Sometimes it can be a lot but you can start to 1) understand the demand and 2)analyze the competition/property types/amenities/price/etc. Next, I go over to AirBnB and search for the 30+ stays only to dive deeper, and hopefully you can begin to create a range of properties/size/amentities and the revenue/returns you potentially can hope for.
Then, it would be research hosptials, what Level there are (1,2,3) and contacing their agencies/recruiters to better understand demand/need. Hope this provides some value!
That's actually pretty helpful I haven't heard it put quite that way yet. I've got some digging to do now! Thanks!