Medium-Term Rentals around Raleigh?
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.
Hey Matthew, if you have any questions about private lending/hardmoney, please reach out to me through PM! Would love to help you in the MTR space.
For about three years, I managed around two dozen MTRs in Durham. They were all within the same condo association, however. That being said, I am listing several addition MTRs effective this month. I would be happy to answer any questions that you have, based on my (limited) experience in the market.
@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.
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.