All Forum Posts by: Sarah Weaver

 Hi Melissa, thanks for buying the book! I love your question. 

Congratulations on your offer. I hope all goes well. You are thinking the right way—create a space with an alluring design but that's still functional and comfortable. For example, maybe you can purchase a plush sofa for comfort and pair it with a MCM TV stand. 

I also encourage you to think about amenities that are intentional and thoughtful, like a desk or work station, a small fitness area with a yoga mat, a "library" or bookshelf with reading options, or blending outdoor/indoor living spaces where possible (of course, if your unit allows it). Anything you can do to curate your space and make it stand out will help. 

 Hi Jennifer, thanks for your question.

It really depends. I notice that it sees-saws back and forth. For example, earlier this summer, 90% of my bookings were from Airbnb. But throughout the end of summer and into fall, most of them are coming from Furnished Finder. I do not have my units listed on VRBO at this time. I find that cross-listing them on Furnished Finder and Airbnb does a great job of exposing my listing to a variety of potential tenants for maximum occupancy.

 Hi Tiffany, thanks for your question. 

If the deal works, the deal works! However, like all expenses, HOA dues typically go up over time. So if your cash flow is just barely positive, you'll want to consider your returns over time. Additionally, I encourage you to double-check that there are no restrictions for medium-term stays with the HOA. Every HOA is different, so you'll want to be crystal clear about what is and is not allowed for that complex.

I am responsible for all utilities on my medium-term rentals. This is certainly an added cost, but the numbers still work if it's the right deal. When analyzing an MTR deal, be sure to add the landlord-paid utilities to your expenses. The exact cost will depend on your market. You can always call local utility companies and ask for estimations for prices so you can run the numbers accurately. 

 Hi Nathan, great questions. 

When I analyze deals (before purchasing), I always analyze them at 8% vacancy. 8% equates to 1 month out of the year per unit. I find that my units are averaging 98-100% occupancy, so my estimation of 8% vacancy is typically an overestimation—which is always a good thing. That's just more cash flow later on. 

When running comps to gauge market demand, vacancy, and rent, I would advise against comparing STR stats to MTR projections simply because it's apples and oranges. I use furnishedfinder.com/stats to gauge demand, and then I look at how many units of inventory are on the market. I do this by browsing listings for comparable units on Furnished Finder. You'll want to look for a market that has decent demand (50,000+ housing searches on the stats page) but isn't over-saturated with competition. I hope this helps.

 Hi Tiffany! My best advice is simply to be sincere and authentic. Start by making a few calls and building relationships. Do some networking with local investors and insurance agents. Follow up and build confidence that your home is an excellent place to stay. Once they refer a tenant to you, make it a great experience. You will have an influx of insurance tenant placements in no time. 

Hi Patricia! Yes, my medium-term rentals stay booked at nearly 100% occupancy. Most of my turnovers are same-day or next-day. 

Cash-on-cash returns will always vary depending on home type, year purchased, market, strategy, and numerous other factors. That's why CoC figures should always be taken with a grain of salt. However, I have seen CoC returns from 9% all the way into the 30% range and above with my properties. The cash flow on medium-term rentals is excellent!

My medium-term rentals are in Iowa and Nebraska. My favorite market is the one that cash flows! Jokes aside, I do not have a "favorite." When choosing a market, look for all your standard indicators of a market (population growth, crime, employment, etc.) and see how many hospitals are nearby. Since MTRs typically cater to traveling nurses, you'll want to make sure there will be plenty of work opportunities to draw them to your unit.

Hi Gloria! You will want a policy that protects you as a landlord. Insurance carriers have not yet developed a "medium-term" policy—they are still grouped as long-term and short-term. That being said, you should work with a licensed carrier to discuss a customized plan that works best for you. When building your plan, consider including the following:

- Liability coverage
- Vandalism and malicious mischief coverage
- Bed bug coverage

Visit sarahdweaver.com/mtr for more information about the book. Wishing you success in your investing journey!