Midterm Rental Strategy in Providence?

Question

Hello!

I'm buying a 4 unit in the Federal Hill area and I was wondering if anyone has had luck with the midterm rental strategy in Providence? I have rentals in Portland, ME where MTRs do quite well but I'm new to investing in this area. Thank you!

Lindsey

Michael Diossa · Answer

Midterm rentals are a bit more difficult in Providence.

You do have RISD,JWU,PC students in the are but i've found most look for a full year.

We have a couple of properties on Fed hill that we manage.

Zachary Deal · Answer

I don't know the best MTR strategy in providence, but would check out Furnished Finder, VRBO and Airbnb (30 + day stays) and local Facebook groups to see how much competition there is for what you're offering. It may be worth looking into ALE solutions as well for insurance placements. As I'm sure you know it's best to try many different lead sources for an MTR

Andrew Postell · Answer

@Lindsey Ambrose your state is so small you may not get very many replies to this post here.  However, there are local real estate groups in your area that I would suggest connecting with and asking these questions in those.  Meetup.com is a good place to search for some.  Eventbright, Bigger Pockets Marketplace...even facebook will have investor groups with hundreds and hundreds of Rhode Islanders in them.  Join those.  That will be your best bet.