Medium-Term Rentals

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Sebastian Villacis M.
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Medium-Term Rental investing opportunity in Fort Wayne

Posted Jan 16 2023, 08:44

Hi BP,

Me and my wife are wanting to invest in Fort Wayne. We are from NYC and want to move out of the area to start our RE journey and picked Fort Wayne as our option. We have a one-year-old little girl and were originally going to move to Northern Virginia (close to Washington, DC) since our family is located there but with this high-interest rate market, we decided to switch markets to a more affordable one for the moment until rates come down a bit more and hopefully buy in Virginia in the future.

This is our plan:

1. Buy a property as a primary residence with 5% down and live there for one year or for as long as it takes before we can buy our property in Virginia with a lower interest rate than now (today at 6.09%).

2. While we live in the property, we want to put some work in it bringing it up-to-date. We will furnish it as we live in it too.

3. Once ready to buy our Virginia house and move out, we want to rent our property as a medium-term rental to travel nurses and medical professionals (but not limited to). So anyone with experience in this space in this area would be so great to hear from.

4. Property can also be rented as a long-term rental but since it will be already furnished, we dont know how that would work.

5. We are looking to but in the vicinity of major hospitals such as Dupoint, Parkview, Lutheran, Lutheran Children's, etc.

Does anyone know or has worked with a great investor-friendly REA? We would love to connect with someone who has experience investing in the area and possibly someone good with off-market deals.

We are so excited with what Fort Wayne can offer and bring to our lives. 

Thank you!

PD: we will be getting pre-approved the next month but we got already pre-approved the last year when Virginia was our first and only option. So, we are serious to buy ASAP.

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