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MTR for Travel Nurses and/or Other Professionals

Posted Nov 25 2022, 19:19

Hi BP Community,

I am interested in investing in Cleveland, OH, around the Wakefield/Detroit Shoreway/Edgewater area to be more specific. I want to buy a duplex and have each unit serve as MTR for traveling nurses or other professionals coming to Cleveland. My only concern is if Cleveland is actually attracting traveling nurses. I understand Cleveland has some of the best and biggest hospitals in the nation but after reading statistics from Furnished Finder it seems like the demand of traveling nurses does not reflect the current growth and magnitude of the healthcare industry in the area for whatever reason. I may be wrong that is why I created this post to see if maybe I can get advice from an investor who has done this already and seen the results. 

Thank you in advance for your valuable feedback.

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Shane Kelly
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Shane Kelly
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Replied Nov 26 2022, 05:38

From what I've heard, the people who are coming to Cleveland Clinic as travel nurses have their housing figured out for them and the people you'd have to get with to get into their program are very hard to reach. Maybe for some of the other hospitals like Metro or UH (University Hospitals) you can find an in, but I think this game is one where you really need to know someone who knows someone, and unfortunately, I don't know someone.

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Replied Nov 26 2022, 06:45

@Shane Kelly Thank you so much for your feedback. It is my understanding that the agency the got hired by the one that takes care of housing if the nurse wants to; otherwise, housing is decided by the nurses themselves  or what is referred as stepend. Hospitals are not involved in housing from what I knew. Maybe Cleveland works a bit different.

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Shane Kelly
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Shane Kelly
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Replied Nov 26 2022, 07:05
Quote from @Sebastian Villacis M.:

@Shane Kelly Thank you so much for your feedback. It is my understanding that the agency the got hired by the one that takes care of housing if the nurse wants to; otherwise, housing is decided by the nurses themselves  or what is referred as stepend. Hospitals are not involved in housing from what I knew. Maybe Cleveland works a bit different.


 I cannot speak with certainty, I'm only operating off of what I've been told. Whether it's an agency or the hospitals themselves, they seem very controlled into where they stay, however I'm sure they can move elsewhere if they choose to. I hope it works out!

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Colleen F.
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Replied Nov 26 2022, 07:45

@Sebastian Villacis M. Travel nurses go where it pays. They want really close to downtown/ easier commute especially if parking has to be paid. They make more money if they can keep some o their travel stipend. FF data may not truly reflect demand because many people set the radius around a city where they may only want to live in the city.

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Replied Nov 26 2022, 14:26

@Colleen F. your feedback is much appreciated. Any experience providing housing to travel nurses in Cleveland? It will be nice learning more from you.

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Colleen F.
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Colleen F.
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Replied Nov 26 2022, 17:17

@Sebastian Villacis M.No,not in Cleveland. Check out Furnished finder Facebook group and you also may have local Facebook Housing groups for cleveland. You can find out alot that way.

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Sarah Weaver
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  • KC, MO
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Sarah Weaver
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Replied Nov 29 2022, 10:39
Quote from @Colleen F.:

@Sebastian Villacis M.No,not in Cleveland. Check out Furnished finder Facebook group and you also may have local Facebook Housing groups for cleveland. You can find out alot that way.


 Agree with Colleen! Joining local investor Facebook groups and local housing groups is a great way to connect and understand demand. I also recommend reaching out to landlords whose units are listed on Furnished Finder. In my experience, some don't respond, but some do and are happy to answer your questions about demand and vacancy rates. Best of luck! 

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Jack Mawer
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Jack Mawer
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Replied Nov 29 2022, 14:50

I would definitely do your homework on if Cleveland is a popular spot for traveling nurses, but your head is in the right place as your cash flow will certainly be greater than it would as an LTR!

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Replied Nov 30 2022, 07:40

@Sarah Weaver, Thank you for your response. I will give it a shot.

Also, thank you for publishing 30 Day Stay. I pre-ordered, waited for the book around 3 weeks, and finished reading it 5 days after receiving it. You and Zeona did a really good job. I was surprised by how fast you scaled up using creative financing. Congrats and keep up the good work.

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Replied Nov 30 2022, 07:48

@Jack Mawer, thank you for your response. Yes, I have been reading and researching about Cleveland and see if it is even doable for MTR location. I will keep working on it and follow @Sarah Weaver advice. I ran my numbers and if the 2 units will rent as MTR with 8% vacancy (maybe too low), the CoC is pretty good. The dilemma is figuring out if they will actually rent. I will keep doing my homework and will keep you guys posted.

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Replied Nov 30 2022, 07:49

@Colleen F. , thank you for your advice. Will get into it now.

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Bob Stevens
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Bob Stevens
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Replied Nov 30 2022, 10:56
Quote from @Sebastian Villacis M.:

Hi BP Community,

I am interested in investing in Cleveland, OH, around the Wakefield/Detroit Shoreway/Edgewater area to be more specific. I want to buy a duplex and have each unit serve as MTR for traveling nurses or other professionals coming to Cleveland. My only concern is if Cleveland is actually attracting traveling nurses. I understand Cleveland has some of the best and biggest hospitals in the nation but after reading statistics from Furnished Finder it seems like the demand of traveling nurses does not reflect the current growth and magnitude of the healthcare industry in the area for whatever reason. I may be wrong that is why I created this post to see if maybe I can get advice from an investor who has done this already and seen the results. 

Thank you in advance for your valuable feedback.

 Much too much work, just buy a duplex for about 110k, and rent it for 850/ 850 at least, Also the areas you mention is not where you want to be, 

Good luck 

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Replied Dec 1 2022, 06:03

@Bob Stevens your feedback is much appreciated. If the areas I mentioned are not ideal, which ones do you think should be considered? Running my numbers with the scenario you gave me gives me a conservative 4.5% CoC which is not bad but not great either. Of course if increase rents by $75 to $100 per unit the CoC will increase too, but it will all depend if the location and condition of the property allows me to do so.

Again, thank you for your valuable advice.

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Bob Stevens
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Bob Stevens
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Replied Dec 1 2022, 06:09
Quote from @Sebastian Villacis M.:

@Bob Stevens your feedback is much appreciated. If the areas I mentioned are not ideal, which ones do you think should be considered? Running my numbers with the scenario you gave me gives me a conservative 4.5% CoC which is not bad but not great either. Of course if increase rents by $75 to $100 per unit the CoC will increase too, but it will all depend if the location and condition of the property allows me to do so.

Again, thank you for your valuable advice.


 HELLO, 5% net cap, why bother. This is Cleveland , nobody invests there for less than 10% net caps. (used to be 25% nets )  Again you can buy a duplex that will have about 12- 13k NET income on gross of about 20k, with an all in PP of 108k,,,, thats about 12% net based on a cash purchase. SF all in 105k with about 12k net , these are typical deals . Its all about knowledge and your team

All the best 

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Replied Dec 1 2022, 06:44

@Bob Stevens

Your numbers are in the ballpark, yes! The net operating income (all expenses + taxes + insurance) of 12k sounds about right if this is an all-cash deal, but if financing is required, which is 25% down + CapEx, that beautiful 12k operating income shrinks down to around to 1.5k operating income which translates into $125 of monthly cashflow, and this is what gives me the 4.5 CoC that I was talking about. I would love to know the areas in Cleveland that you are referring to where you could get a duplex for 105k and can collect $850 per unit (at least)

Best regards.

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Replied Dec 2 2022, 07:39

The Travel nurses are not controlled in where they stay- never. They have two options all the time. number one option is take the stipend and get their own housing. (which they do 98% of the time). number two is have the recruiting company pay for their housing. They only use option number two if they cant find any on their own or its an emergency response recruiting agency (one where they are informed of and must leave for the assignment in less than a week) in this case housing, travel expense is paid for by the company. There are very few of these emergency agencies around. The best place to list your property for travel nurse and other healthcare professionals is nursesbnb because their method is secure to avoid all sketchiness and protect both parties along the process.

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Sarah Weaver
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Sarah Weaver
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Replied Dec 6 2022, 10:07
Quote from @Sebastian Villacis M.:

@Sarah Weaver, Thank you for your response. I will give it a shot.

Also, thank you for publishing 30 Day Stay. I pre-ordered, waited for the book around 3 weeks, and finished reading it 5 days after receiving it. You and Zeona did a really good job. I was surprised by how fast you scaled up using creative financing. Congrats and keep up the good work.


 Thank you so much for your kind words, Sebastian! I am so glad you enjoyed it. 

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Bonnie Low
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Bonnie Low
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Replied Dec 10 2022, 10:38

Take a look at Cincinatti. For whatever reason, it's the highest demand in the state for travel nurses. If you go to the FF dashboards and look into the data, it will tell you where the requests and bookings are coming from.

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Replied Feb 5 2024, 03:37
Quote from @Bonnie Low:

Take a look at Cincinatti. For whatever reason, it's the highest demand in the state for travel nurses. If you go to the FF dashboards and look into the data, it will tell you where the requests and bookings are coming from.

 @Bonnie Low What are the FF dashboards?

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Bonnie Low
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Replied Feb 6 2024, 07:03
Quote from @Dylan Williams:
Quote from @Bonnie Low:

Take a look at Cincinatti. For whatever reason, it's the highest demand in the state for travel nurses. If you go to the FF dashboards and look into the data, it will tell you where the requests and bookings are coming from.

 @Bonnie Low What are the FF dashboards?


 Hi, Dylan. Furnished Finder is the most common place for listing furnished rentals if you're targeting travel medical professionals. It's the OG of "travel nurse" sites. That said, they are attracting more non-medical users nowadays as their market share has increased. Because we invest in Ohio, I've researched various markets (CLE, CIN, Dayton) and looked at the stats on FF. IN 2023, Cincinnati was the #1 market for travel medical professionals in the state of Ohio, which really surprised me because I thought it would be Cleveland because of the scale of Cleveland Clinic. However, I see it's now showing as #3. This could definitely be due to the demographics of FF users changing (i.e. more non-medical professionals using the site now). Anyway, if you want to research your market, one way to do that is to look at the stats page on Furnished Finder and enter your city. Here it is for Cincinnati https://www.furnishedfinder.com/stats?ci=Cincinnati&st=O...

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Sam McCormack
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Sam McCormack
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Replied Feb 6 2024, 08:14
Quote from @Sebastian Villacis M.:

Hi BP Community,

I am interested in investing in Cleveland, OH, around the Wakefield/Detroit Shoreway/Edgewater area to be more specific. I want to buy a duplex and have each unit serve as MTR for traveling nurses or other professionals coming to Cleveland. My only concern is if Cleveland is actually attracting traveling nurses. I understand Cleveland has some of the best and biggest hospitals in the nation but after reading statistics from Furnished Finder it seems like the demand of traveling nurses does not reflect the current growth and magnitude of the healthcare industry in the area for whatever reason. I may be wrong that is why I created this post to see if maybe I can get advice from an investor who has done this already and seen the results. 

Thank you in advance for your valuable feedback.


 I am in Cincinnati, the most traffic for traveling nurses in Ohio (I only know that because of Bonnie Low, lol) let me know if there is anyway I can help!