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BiggerPockets Real Estate Podcast

780: The Step-by-Step Guide to Building a Medium-Term Rental Empire w/Jesse Vasquez

BiggerPockets Real Estate Podcast

BiggerPockets

Education, Business, Investing

4.816.5K Ratings

🗓️ 18 June 2023

⏱️ 64 minutes

🧾️ Download transcript

Summary

Your real estate cash flow is suffering. Rent growth is slowing, mortgage rates are rising, and property prices are staying put. So where can you find more room to profit with your rental property? The answer is medium-term rentals! Until a couple of years ago, medium-term rentals, also called corporate rentals or traveling nurse rentals, were the sleepy investing strategy that only experienced investors like Jesse Vasquez knew about. But now, they’ve become (arguably) the best rental property on the planet. With medium-term rentals, you can often make four (or more) times the rent than a regular rental. You’ll also have minimal turnover, more professional tenants, and be able to book out your place at a high monthly rate for four, five, or six months at a time. They’re easier to manage than short-term rentals but have substantially more cash flow than long-term rentals. So, how do you get in on this high-cash flow craze? We brought Jesse back to the show for a step-by-step tutorial on starting, running, and profiting with a medium-term rental. He gives in-depth answers on how much it costs to start, the best locations to buy (or rent), how to get the biggest rental contracts from top corporations, amenities guests will expect, and what to charge. If you want to take your rental property from break-even to making bank, this is the strategy for you! In This Episode We Cover: The medium-term rental strategy explained and how to use it to make 400% more cash flow Short-term rental regulations and why many hosts may need to switch to medium-term stays Best real estate markets for medium-term rentals and signs of low vacancy Unique amenities that will get you CONSTANT business (bikes, cars, grocery delivery, and more!) Rental contracts and how to use hospitals, insurance companies, construction crews, and more to fill up your rental Whether or not allowing pets in your rental is EVER the right move to make And So Much More! Links from the Show Find an Agent Find a Lender BiggerPockets Youtube Channel BiggerPockets Forums BiggerPockets Pro Membership BiggerPockets Bookstore BiggerPockets Bootcamps BiggerPockets Podcast BiggerPockets Merch BPCON2023 Listen to All Your Favorite BiggerPockets Podcasts in One Place Learn About Real Estate, The Housing Market, and Money Management with The BiggerPockets Podcasts Get More Deals Done with The BiggerPockets Investing Tools Find a BiggerPockets Real Estate Meetup in Your Area David's BiggerPockets Profile David's Instagram David’s YouTube Channel Work with David Pick Up Some of David Greene’s Best Selling Books Rob's Instagram Rob's TikTok Rob's Twitter Rob's YouTube David’s First Episode Jesse’s Recent Episode Medium-Term Rentals: How to Get BIG Cash Flow Out of Small Properties Book Mentioned in the Show: 30-Day Stay by Zeona McIntyre & Sarah Weaver Connect with Jesse: Jesse's BiggerPockets Jesse's Instagram Jesse's YouTube Click here to listen to the full episode: https://www.biggerpockets.com/blog/real-estate-780 Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email [email protected]. Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0

This is the Bigger Pockets Podcast, show 780.

0:03.8

I talked last time that you want to have five or more properties.

0:06.1

You can have one property and start off.

0:07.6

And the beautiful thing about the midterm rental space is that we're charging 10K a month for that property when my market is 2K.

0:12.8

This is the prime time to get in this place.

0:15.0

What's up everyone? This is David Green, your host of The Bigger Pockets Real Estate Podcast.

0:19.5

If you didn't know, it's the biggest, the best, and the baddest real estate podcast in the world.

0:24.1

And we are closing it on 800 episodes.

0:27.2

And on today's episode 780, we have a fantastic show with one of our most popular guests ever.

0:32.7

Rob's friend and my soon to be property manager Jesse Vasquez, the medium-term rental expert.

0:39.7

Jesse gave a show that was so good that this could probably be converted into a course and sold for $10,000.

0:44.7

But you won't have to pay that. You get it for free. Rob, what'd you like about today's show?

0:48.7

You know, this is a very deep dive. It's a much needed follow-up, right?

0:52.8

We did a show with Jesse Vasquez not too long ago.

0:55.6

And that one went viral on YouTube.

0:57.6

And that is one of our most popular shows we've ever done.

1:00.3

I knew the moment we got done that we were going to need to follow up.

1:03.6

And I'm so happy to have that follow-up because we were able to get really in there and actually like dive into the systems

1:09.5

and to the actual strategies of obtaining contracts for your midterm rental business.

1:13.6

And how to hybrid your business to be partially short-term rental, partially midterm rental.

1:18.4

And that basically just adapted your entire portfolio.

1:20.7

So if you're looking to get into this space, this will be a game changer for your portfolio.

...

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