Amelia McGee and Grace Gudenkauf (saying that name is like a tasty treat I can’t get enough of) are the creators of WIIRE: Women Invest In Real Estate, a posse of powerful ladies showing the rental game who’s boss.
Their speciality? MTR.
After dabbling in buy and holds, fix and flips, BRRRR, multifamily, short-term rentals, and creative financing deals, for them, midterm rentals took the gold medal in the real estate Olympics.
Read on for my Midterm Rental Profit Academy review.
For Grace and Amelia, MTRs meant higher income, less stress, and more time freedom.
Their tenants are typically traveling healthcare professionals who book for 90 days or more. They’re not needy at all and they take great care of the properties.
These properties, by the way, are fully furnished and have starter supplies (toilet paper, paper towels, etc.), utilities, washer, dryer, fast WiFi, snow removal, and lawn care included.
Unlike STRs, you don’t need to go crazy with high-end furniture and decor. Just keep it simple.
What makes a good midterm rental market?
Look for areas with nearby hospitals, large corporations, research centers, universities, filming destinations, lots of new construction, and/or a military base.
If it’s a smaller city, is it within driving distance of a major metro area?
Could you switch to STR if MTR doesn’t work?
Is the neighborhood safe?
Quiet?
Within walking distance of public transportation?
Near downtown or at least close to corporate offices?
These are the kinds of things Amelia and Grace want you thinking about.
Where do you list your midterm rentals? Or how do you get tenants, right?
“The number one place we recommend getting your mid-term rentals listed is Furnished Finder,” Amelia says.
“This website is made specifically for traveling nurses. It’s $99 a year which is well worth it to get, theoretically, four tenants a year if each of ’em stays for three months. But it is a little bit clunkier of a website so we do recommend, once you get a tenant, move them to whichever property management software you use and rent through there,” she adds.
“The other place you can list,” Grace jumps in, “is Airbnb. It’s still a great option, believe it or not, because there’s a lot of tenants out there that don’t know about Furnished Finder.”
“So this is gonna give you higher visibility but it might be higher maintenance guests, too – people who’re looking for that show-stopping, super cute place to stay in. And there’s a little bit less control over booking guests. However, Airbnb is a great place to list your booking gaps in the first place. And then, Airbnb does charge a 3% fee,” she says.
Third is Facebook Marketplace and Facebook Groups that are specific for travelers. It’s free. Easy to use. And everybody’s on there. Why not list there, right?
Last but not least, you can always get in touch with temporary housing providers through insurance companies. ALE Solutions is one example. You may need to muscle through some uncomfortable phone calls and channel your inner negotiator, but the upside of securing a dependable referral source can be huge.
Are you picking up what the WIIRE chicks are putting down?
Think MTRs could be right for you?
If so, consider buying their Midterm Rental Profit Academy course.
“It’s jam-packed full of all the information you need, from start to finish, on how to get your mid-term rental up and going,” Amelia says.
“We value the course at $1,900 but today it’s on sale for just $97.”
“We’ve included some bonuses as well. An analyzer tool, a furnishings list, a security deposit deductions list, response templates, a welcome guide, an MTR lease, and more.”
They also have Virtual Summits and Retreats you can attend.
Like a Swiftie wearing a diaper at Taylor’s concert, so they don’t miss a single song, I’m a fan.