We have a home that we are almost done remodeling that we would like to try the mid term strategy to increase our cash flow vs long term. The home is a 3/2 in a great neighborhood next to the community pool, park, and playground and located just south of beltway and and I45.
We are new to the midterm strategy and trying to figure out what the demand is and the pricing.
Is anyone actively doing midterm rentals in this general area and willing to help some new comers out?
Realtor · Houston, TX · Member since 2019 · 351 posts · 174 votes
1y
That's good. Keep in mind that they can increase that period if they get complains from the community, so make sure you're in good relationship with your neighbors. You can look on websites like https://www.corporatehousingbyowner.com/search/United-States... and https://www.furnishedfinder.com to see what similar houses are rented for. Airbnb with a minimum of 1 month stay could be a good reference too.
Realtor · Houston, TX · Member since 2019 · 351 posts · 174 votes
1y
That's good. Keep in mind that they can increase that period if they get complains from the community, so make sure you're in good relationship with your neighbors. You can look on websites like https://www.corporatehousingbyowner.com/search/United-States... and https://www.furnishedfinder.com to see what similar houses are rented for. Airbnb with a minimum of 1 month stay could be a good reference too.
Lender · Member since 2023 · 464 posts · 425 votes
1y
Have you gone to local real estate events? That is often the best way to find investors in your area that are doing MTR/STRs. There are often local Facebook groups for specific strategies
@Daniel Tanasa thank you for the links. I had not heard of the corporate housing by owner site. I will take a look. Furnished finder we were only able to find a few which is what brought us here to ask. Trying to find out if there just isn’t the demand, or so much demand that the available units are rented so they don’t show up.
Thank you for your input. Fortunately/unfortunately I don’t have any Facebook or other social media accounts. I was planning on searching here today to see if I can find any meetups in our area.
Well as an update to this. We finished the house last week and put it up on furnished finder, and Airbnb for min of monthly rent and got our first tenant Wednesday. They are moving in Saturday.
We are honestly kinda surprised, but very excited.
Thanks to everyone that offered advice. We really appreciate the community!