All Forum Posts by: Zachary Deal

Agreed with Colleen! Check with the city and make sure you are complying with local short/long term rental regulations (typically 30+ days is considered long term).

You may want to check out ALE solutions for insurance placements! Would recommend doing Airbnb and VRBO for 30+ day for the property you want to keep as an MTR stays if you aren't doing that

I would recommend checking out the Traveler Search (link below) on Furnished Finder and check Airbnb/VRBO for 30+ stays to gauge demand/competition in your area.

Travel nurse housing/furnished rentals in Jersey City New Jersey (furnishedfinder.com)

I agree - I'm not sure it's necessary and there are a lot of other grocery delivery services like Instacart, Amazon Fresh, Fresh Direct, etc that people may want to use instead. It may be more useful to create a comprehensive local guide for your area and include what services deliver in your area. I like Jaime's idea of having someone put the groceries in the unit before they arrive for a fee.

Yes, that sounds like it may be difficult to overcome. One idea could be doing 90+ day stay minimums to try and avoid too much turn over and keep the property as an MTR.

I think you could list in on Airbnb and VRBO for 30+ day stays. There may be some good facebook groups to check out for digital nomad as well.

Not sure about that specific area but I would recommend checking out Furnished Finder to do market analysis on the deal. You can use the Traveler Search feature to see other MTRs in the area. Taking a look at Airbnb/VRBO 30+ day stays and extended stay hotels as well may give you a better idea of demand as well

If you're still looking for financing for the property you could look into a hard money loan to fund the purchase and most of the rehab and then refinance into a DSCR loan. It would depend on the ARV after the repairs if that route makes sense (not sure with that little rehab, etc)

I think your descriptions are helpful, but good pictures with some measurements may be your best bet. This is especially important for the toilet. Including a line with approx. measurement in the image in my opinion would sufficient and then have a more general disclosure in the description. I've seen plenty of weird setups in NYC and typically it is not a deal breaker but you want to be upfront about it and let folks decides for themselves.

@Manuel Escalante Thanks for the insight! How has the pivot to LTR been? 

Besides Airbnb I would recommend Furnished Finder, VRBO 30 + days and local Facebook pages (can also try specific pages for travel nurses, etc). If you are going for insurance placements you can check out ALE/CRS as well.