All Forum Posts by: Nicole Heasley Beitenman

After talk to other MTR operators, MTR tenants, and talking to my insurance agent, I have to change the advice I gave several months ago. General consensus is a renter's insurance requirement is a huge deterrent for travel nurses. They don't want to pay for insurance when they're only bringing some clothes and toiletries. We discussed this with our agent, and they recommended a traditional rental policy with an umbrella policy. 

I'd check out Facebook, meetup.com, and the events section here on BP. Even if the meetup isn't MTR-specific, any REI meetup is worth your time.

 I'd love the info on that!

Hopefully you can find a lender with lower rates/fees as the others have suggested (although I would be wary of the cheapest lender. I've used the cheapest lender in the past, and they were cheap for a reason). Do you cash flow regardless of the scenario? If so, I'd always put the lowest amount down. The additional funds can be used for reserves, down payments on other properties, or closing costs when you refinance. 

We were big fans of 1/1's and 2/1's even before getting into the MTR space. In my market, there just isn't a huge demand for insurance displacements or other niches that have need for 3 bedrooms and are willing to pay for that extra space. But it really depends on your market and the niche you're targeting. I recommend networking with other MTR operators at your local REI meetup for market-specific feedback.

Go to your local REI meetup. If you're in a larger market, there's sure to be other MTR operators you can talk to for market-specific advice.

We just did a portfolio review with our insurance company this afternoon. They recommended a standard rental policy with an umbrella policy on top.

Craigslist is getting pretty dusty. If it isn't working, don't waste your time. Are the rooms furnished? 

You don't want tenants putting utilities in their name for a 13 week stay. That's just going to turn into a giant headache. Include it in rent.