How Long Did It Take to Get Your First MTR Booking?

[Nick Copland]

The waiting game can be stressful.

Some hosts book in days.

Others wait weeks.

I’ve seen that listings with clear tenant targeting and simple pricing book faster.

How long did it take you to land your first midterm guest?

And what do you think made the difference?

[Kenneth Garrett]

@Nick Copland

I completed a 3/2 BRRRR MTR and went live approximately January 1, 2025. The property is near two large military bases and hospitals. Attracting nurses or healthcare workers was not very successful based on rents they want to pay. Maybe if it was 1 or 2 bedroom that would have had a better success rate. I held out for a TDY or PCS military member. In February they reached on FF and we had a lease in place in the month of February. Lease started March 1.

So it took 4-6 weeks to acquire a tenant and 60 days or so to actual income. On the plus side the revenue it generated covered the entire year of expenses.

This property ended up having great cash flow for the year which was better than projected even with some vacancies.