Medium-Term Rentals

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Vee Turato
  • Investor
  • NJ
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House Hack / Medium term rentals

Vee Turato
  • Investor
  • NJ
Posted Nov 29 2022, 08:37

Hi Everyone, 

I am located in Belmar NJ and am doing MTRs currently. I do regular rentals as well and did Air bb too.

 Was wondering if there is anyone in the area that is doing similar, where are you finding your MTR leads other then Furnished Finder.

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Brian Bohrer
  • Real Estate Agent
  • Colorado Springs, CO
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128
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Brian Bohrer
  • Real Estate Agent
  • Colorado Springs, CO
Replied Nov 29 2022, 08:44

Hey Vee,

I currently LTR one property and do some Airbnb in my primary residence but have only utilized furnished finder for my MTR research.  We plan to MTR this house to nurses and military in the area once we move to the next primary.  I have heard others using rent.com and apartments.com to get a feel for what pricing should be, but you could also set up an account as a landlord and see what you can catch!

I wish you the best!

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Vee Turato
  • Investor
  • NJ
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Vee Turato
  • Investor
  • NJ
Replied Nov 29 2022, 11:56

Thanks Brian! I am using F Finder and had success with it. Trying to see what else to use, rent.com is a good idea!

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Jack Mawer
  • Lender
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Jack Mawer
  • Lender
Replied Nov 30 2022, 15:22

Hey Vee - sounds like you are doing it right! Would be curious to hear more about your experience and which type of renting you most prefer - STR, LTR, MTR - definitely pros and cons to each

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Vee Turato
  • Investor
  • NJ
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Vee Turato
  • Investor
  • NJ
Replied Nov 30 2022, 15:38

Hi Jack,

From my humble investing start in 2020, all are good. Depends on how much time you really want to dedicate to it. Air bb was most cash of course, but MTRs to me make a lot of sense as a common ground between STRs and Annual rentals. Usually good tenants, quieter and 90 day leases or so are really nice too.

STRs 

Pros: cash, short tenancy        Cons: more wear and tear, more managing bookings

MTRs

Pros: Less management, Money is higher then Annual rentals, usually 90 day leases

Cons: Limited pool of tenants, and area needs to be attractive for them to stay/work there

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Allen Duan
  • Property Manager
  • Los Angeles, CA
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Allen Duan
  • Property Manager
  • Los Angeles, CA
Replied Dec 1 2022, 15:02

We're in Los Angeles and get most of our bookings through Furnished Finder and Airbnb. In distant third would be Facebook marketplace. You can find local groups where people post rentals and list all your properties there for free.