Medium-Term Rentals around Raleigh?

[Matthew Rice]

I'm a broker out of Raleigh looking to connect with people doing MTR's. It's a new concept to me and I'd love to learn. I've done a flip but already looking to get into the rental game.

[Brandon Vanderford]

Quote from @Daniel Kelepouris:

@Brandon Vanderford

Realizing this is an old post but I'm an investor looking for areas that lend well to midterm rentals with small multis. Curious if you have any experience knowing what's a good area around Raleigh to consider. I'm out in CA and have no knowledge but highly interested.

Hey Daniel, I think that the safest investments are <7 minutes from a hospital or university, because you will always have midterm renters. I work a lot with travel nurses, tech interns, visiting scientists, and visiting professors. That being said, I am beginning to work with more folks who are having their high-end home remodeled, and am networking with contractors to increase these types of tenancies (since they typically have a higher budget). I am not working with insurance yet, but plan to begin as my portfolio grows. Both of these latter options (remodels and insurance) increase the area within which you could operate a profitable MTR, since they are not tied to a school or hospital. 

My biggest piece of advice is that you should find a property that could realistically cashflow as a long-term rental, just in case the property needs to be converted down the road. I know a number of folks who have gotten out of the MTR business recently, as the competition has increased. 

I'll send you a connection request. I would be happy to discuss further.