All Forum Posts by: Rick Wiedenhoeft

Thanks! I appreciate the feedback. I'm still undecided. I like not having the hassle or liability. If it doesn't seem to make that big of a difference in price or demand, I'm ok without. On the other hand, if it creates more bookings, it could be worth it. I would guess that those coming to FL are looking for a pool in the summer, not a hot tub (like a few of you said.)

I agree on the liability part. Pool I might consider, but having had a stand-alone hot tub, I can say they are a nightmare to maintain. It's like a science experiment to keep the chemicals balanced, especially since you don't know what fluids are going into the water. Beer, wine, and yes (you pervs) other things too. Best of luck in your decision!

1 Vote

Orlando, Florida

I'm originally from St. Louis, MO and there are plenty of large hospitals there. Kellie Michele is a contributor and investor currently in St. Louis who was just on the Furnished Finder podcast sharing her wisdom. She also has a lot of Youtube video help as well. My wife and I are considering going back to purchase some properties (or perhaps arbitrage) there to test the demand. Hope that helps!

0 Votes

Jesse Vasquez is my current favorite. He has 98 videos on his Youtube channel and has been in this market since 2015 I think so he's WAY ahead of most of us. Good question!

0 Votes

Just a quick shout out to Jesse Vasquez to say THANKS! If you're ramping up your mid-term rental business, you owe it to yourself to catch Jesse's podcast interview on Bigger Pockets (episode 780), as well as checking out his Youtube channel for (currently) 98 videos on mid-term rental housing, specifically to the insurance industry. He also looks at health care, relo, construction and business travel, but his primary focus is on the insurance industry housing needs. Another great resource for us wanna-be superstars. :) Hope that helps!

5 Votes

Orlando, Florida

Quote from @Rachel Gainsbrugh:

Hey Sean! I totally get your frustration - we only do midterm rentals & can be a bit of a juggling act, especially when you've got those odd gaps between bookings. Love the above comments!! Here's my add...

From my own experience, here's what's worked for me:

1. List Everywhere: You've got a great start with Airbnb, Furnished Finders, and Zillow. But don't stop there! The more platforms you list on, the more eyeballs you get on your property. I've even had success with sites like CHBO, Booking.com (be mindful... there's some fraud from time to time)... and others as well

2. Target Specific Groups: Think about who typically needs midterm housing ... although we focus on MTR Displaced homeowners (paid by insurance) we have 3 other midterm rental avatars we serve.... like - relocation, visiting higher ed, movie industry, contract workers, etc. There are even websites specifically tailored to these folks, like which I've found super helpful.

3. Networking is Key: One thing that's worked wonders for me is networking with local hosts, businesses, realtors, businesses and institutions.

every rental market has its quirks .... w/ a bit of research you'll master your mtr in no time. Hope this helps!

Rachel you are a wealth of info. Thank you for your generosity in sharing what you know!

0 Votes

Chattanooga, Tennessee

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $234,000
Cash invested: $60,000

SFR we had a LT tenant and are converting to MTR right now for availability 9/1/23.

How did you find this deal and how did you negotiate it?

Agent who knew we were investors called with an off-market opportunity

How did you finance this deal?

conventional loan

How did you add value to the deal?

replaced supply and waste plumbing lines, all new flooring, removed panelling and popcorn ceilings and paint. Re-screened back patio and removed derelict shed.

1 Vote

Another GC that works mainly in Palm Bay is Eric Vernon. PM me and I can share his contact info with you. Best of luck!

0 Votes

Orlando, Florida

Good morning all! Where do you buy your sheets for MTR? I understand quality matters, as well as being able to replace sheets that go missing or are damaged. Where do you shop?? Thanks!

1 Vote

Orlando, Florida

Hey Steve, as a Realtor, I educate sellers that the primary advantage on a cash transaction is only speed. On closing day, whether cash or financing, seller gets cash. So if you're using it for speed, great. Otherwise it will rarely make a difference to the seller whether it is cash or financing. My 2 cents.

1 Vote

Hartford, Connecticut

@Jamie Banks, We are just now getting under way with our first MTR. Saw your post re the list of nearby hospitals and got thinking; do people normally post a pic of the MAP of where their MTR is compared to work places? Just curious on this one.

0 Votes

Saint Louis, Missouri

All Forum Posts by: Rick Wiedenhoeft

Rick Wiedenhoeft has started 6 posts and replied 29 times.

Post: Central Florida: Is adding a HOT TUB worth the ROI?

Post: New To Medium-Term Rentals

Post: MTR Influencers to Follow?

Post: Jesse Vasquez is a BEAST in the Mid-Term Rental space

Post: How to avoid vacancy gaps in midterm rentals?

Post: Long term rental converted to Mid-term rental

Post: Looking for Truss + Roof Contractors

Post: Best high-quality sheet source for MTR

Post: HELOC to Make Cash Offer

Post: Mid-Term Rental Feedback