All Forum Posts by: Samantha Springs

Quote from @Bob S.:

Quote from @Samantha Springs:

Hello, I am looking to connect with investors that own or work with medium term rentals in Cleveland. I will be visiting in early November and would love to talk with anyone with experience in this market. Thanks!

 Why would you want medium term? Why not just rent for about 1300 on a 100kish house? Why deal with the in and out? MTR is not easy in Cleveland,

All the best 

I like having the option of doing both. I operate an MTR in Los Angeles and I am comfortable with the strategy. Also, of course, increased cash flow. Cleveland has a lot of hospitals and therefore, travel nurse opportunities.

Quote from @Jonathan Styer:

Hi Samantha, I own and manage MTRs in Columbus, not sure if that helps you but I'd be happy to connect if you'd like. 

 It does, thanks! Will connect.

Hello, I am looking to connect with investors that own or work with medium term rentals in Cleveland. I will be visiting in early November and would love to talk with anyone with experience in this market. Thanks!

Quote from @Travis Biziorek:

One of my Detroit rentals is a STR and sometimes, technically a MTR.

Last winter I had a group in the home from November until April.

Yes, I am going to connect with you offline!

Quote from @Michael Smythe:

@Samantha Springs to assist you better, why MTRs and why Detroit?

MTRs because I like the cash flow. I have an MTR in Los Angeles so I am familiar with the strategy. Detroit because the pricing is lower, so I hope I can scale more quickly and there are a lot of hospitals, so travel nurses should be plentiful.

Hello, I am looking to connect with investors that own or work with medium term rentals in Detroit. I will be visiting in early November to assess market viability and would love to talk with anyone with experience in this market. Thanks!

Has anyone had success with finding/working with any property managers that do MTR in Los Angeles? Or will I need to find an STR property manager that is willing to work with me? I feel like MTR is a specific situation that not all STR PMs would be able to optimize.

I went with Steadily for my MTR and added the STR endorsement (there is no MTR option) because their definition of tenancy for the landlord policy is 1 year or more, so MTR would not be covered. It was not a major increase in price.

I also just bought a personal umbrella policy to cover for any situations that go beyond the coverage amounts of the MTR policy, which is something else to consider.

Quote from @Michael Smythe:

Put the duplex up for sale and while listed, start looking for better investments.

Ask yourself if you really want to be a landlord at all! If you hire a PMC you will have less headaches, but still need to be involved in decision making.

 Thanks. I don't mind the landlord bit of it, decision making and oversight is something I am generally good at and enjoy. It's the day to day tenant interaction that drains me.

Quote from @Nicholas L.:

@Samantha Springs

this is one of those really personal questions that I don't like advising on.  it's a good one - it's just such a personal decision.

you got a really thoughtful response from @Travis Biziorek with some things to think about it.

here's something from me.  why not hire a property manager?  yes, this will 'hurt' your cash flow, but it sounds like it will improve your quality of life.  that's a big deal.  it's not permanent.  try it for a year.  see what happens.

 Agreed. It is such a personal question but I do appreciate the responses I've received that offer me different perspectives than just the thoughts bouncing around in my own head.