232: Double Your Cash Flow Overnight (In ANY Market) with Medium-Term Rentals w/Sarah Weaver and Zeona McIntyre

Real Estate Rookie

BiggerPockets

How To, Entrepreneurship, Business, Education, Investing

4.7 • 1.8K Ratings

🗓️ 5 November 2022

⏱️ 47 minutes

🔗️ Recording | iTunes | RSS

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Summary

Medium-term rentals are not new to real estate investing, but most investors have hardly heard of them. For years, corporate travelers would rent a room, apartment, or small property for a year or less. These travelers would pay a premium to avoid long-term leases and stay close to their work. But, with the rise of traveling nurses and digital nomads, the medium-term rental strategy is in a revival when investors need it most. Joining us on today’s show are investors, coaches, and authors, Sarah Weaver and Zeona McIntyre. Their new book, 30-Day Stay, is a masterclass in the wonderful world of medium-term rentals, walking new investors through everything they need to double their cash flow almost overnight. This strategy sounds too good to be true, but even a short-term rental king like Tony Robinson says that he’s intrigued. So is there a catch to this no vacancy, high cash flow, and often headache-free type of housing? In this episode, you’ll learn the pros (and very limited cons) of investing in medium-term rentals. You’ll also hear which markets this strategy works best in, what type of software you’ll need to run one, and how medium-term rentals are starting to rival vacation rentals! If you’re looking for an investment with a high ROI, that doesn't need to be minutes from a beach, this strategy is for you! In This Episode We Cover The medium-term rental strategy explained and why it’s become so popular in 2023 Short-term rental regulations and whether or not they affect medium-term rentals How to analyze a medium-term rental and what to look for in an investing area Tenant screening tips and building your lease agreements for medium-term tenants Which real estate markets work best for medium-term rentals (and which to avoid) Running your medium-term rental hands-free and the best software picks to choose And So Much More! Links from the Show Find an Investor-Friendly Real Estate Agent Ashley's Instagram Tony's Instagram Airbnb Real Estate Rookie Facebook Group Real Estate Rookie Podcast Semi-Retired at 30 Thanks to One Year’s Worth of Real Estate Investing Early Retirement Through Short-Term Rental Properties with Zeona McIntyre W2 Retired and Traveling the World with Just 15 Units w/Sarah Weaver PriceLabs AirDNA Furnished Finder Vrbo Hospitable Google voice Facebook Groups Monday.com Trello Asana Avail Connect with Sarah & Zeona: Sarah's Instagram Sarah's BiggerPockets Profile Zeona's Instagram Zeona's BiggerPockets Profile Check the full show notes here: https://www.biggerpockets.com/blog/rookie-232 Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Check out our sponsor page! Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0	this is real estate rookie episode 232. So actually we compare it mostly to a long-term rental
0:08.1	and a lot of the people that are getting into medium-term rentals do come from the long-term
0:12.2	rental side and go oh I think I could turn these great rentals that I've had for a while into
0:17.5	medium-term and make them more cash flowing. So what we say is look at the way that you're
0:23.6	analyzing your long-term rental but then put in utilities and put in furnishing. So it's really
0:29.6	not that different. The short-term rental there's a lot more expenses and so that complicates
0:34.5	it a bit more and in short-term rentals I don't account for vacancy but I do in the medium-term
0:39.8	rentals so I think long-term rentals the easiest way to compare it. My name is Ashley Care and I'm
0:46.0	here with my co-host Tony Robinson. And welcome to the Real Estate Rookie Podcast where every week
0:51.8	twice a week we're bringing the inspiration motivation and stories you need to hear to kickstart
0:55.3	your investing journey. And I love to start these Real Estate Rookie Podcast episodes by
0:59.9	shouting out people from our audience and today I'm shouting out someone who left a review for us
1:05.0	on Apple Podcast. They go by the user name Tiohee's mom and they said this is the go-to podcast
1:11.7	for every new investor. This podcast has been so valuable over the last few years for me
1:17.1	getting to learn from people who are quote-unquote just like me and going through similar emotions
1:22.2	and situations I've been facing has been fascinating. So Tiohee's mom we appreciate you.
1:26.2	Thanks for leaving us an audience rating and review and if you haven't yet please do leave us a
1:29.6	review on whatever platform it is you're listening to. The more reviews we get the more folks we
1:33.7	can help and obviously that's our goal here at the Real Estate Rookie Podcast. So Ashley Care,
1:37.6	what's up? How are you doing? Well I'm super excited about today's podcast because we just had
1:43.5	on episode 231 we had Jesse On who talked about her house hack and how she is doing a medium-term
1:52.0	rental in one of the rooms. Well today we have the co-authors of 30-day stay a new
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