The Creative Cash Flow Show Episode 030: Why You Should Look at Mid-Term Rentals with Shona Lepis
We’re talking about a new type of rental property on the podcast today! I’ve talked about my Short Term rentals here on the podcast, and today’s guest has taken some of her own short term rentals and turned them into mid-term rentals! Shona Lepis found the cons began to outweigh the pros for her when it came to renting her properties out as Airbnb’s which led her to trying our mid-term rentals! We dive into the benefits of renting your property for longer periods of time than she used to with Airbnb, and if that decreases the cash flow she has made on those properties. Shona share’s it all from how she makes decisions when furnishing and pricing her mid-term rentals, and gives some perspective on who this type of investment property may be best suited for! Should you consider renting out your properties or even buy properties with the intention of making them mid-term rentals? Tune in and see if this might be a good creative cash flow opportunity for you!
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WATCH THE FULL EPISODE HERE:
EPISODE HIGHLIGHTS:
02:00 Meet Mid-term rental expert, Shona Lepis!
04:50 Why did you turn your Aribnb into a mid-term rental?
06:40 How did you get to your pricing adjusting from short term to mid-term rental?
11:00 The mattress delay that ended up saving Shona money in the end!
13:20 How did you weigh the pros and cons of keeping your property as an Airbnb?
17:30 With Travel Nurses being some of your main renters are your properties close to hospitals?
21:00 Ways Shona has worked interests she enjoys into her rentals.
25:00 The technology Shona has installed into her properties.
30:15 Do your guests that stay for a few months still expect the same amenities as a short term rental?
34:15 Pros and Cons of renting your property as a mid-term rental.
39:40 Are you interested in how to get your own mid-term rental property going?
RESOURCES & LINKS
Text MIDTERM or SHONA to 612-662-6629 for more information on Shona’s Mid-Term Rental Course.
Check out these staging and mid-term rental websites mentioned in the episode
https://www.styldod.com/ https://www.furnishedfinder.com/
Learn more ways to create cash flow on Jesse’s website
https://www.thejessemills.com/home
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Text TIPS to 612-662-6629 for more cash flow tips like this!