Investor · Florida Panhandle/Illinois · Member since 2016 · 4k+ posts · 3k+ votes
8mo
@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.
Investor · Florida Panhandle/Illinois · Member since 2016 · 4k+ posts · 3k+ votes
8mo
@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.
For us, it took a few weeks for the first solid midterm booking. The biggest difference was getting really clear on who we were targeting (traveling professionals) and adjusting the listing to speak directly to them—furnished, utilities included, simple monthly pricing. Once that was dialed in, inquiries picked up quickly.
I booked mine in four days!! I think I went full out with the details and photos and set up, I spent hours and days making everything perfect. I was also very intentional when I did everything. I did a lot of cold calling and emailing just to have the exposure and connection, but I ended up booking in on Airbnb