Radiating Real Estate Through Medium-Term Rentals with Jamie Banks
Mid-term rentals (MTRs) are a promising asset class for investors who want to balance the short-term hassle of rental management and the long-term commitment of traditional leasing. In this episode of Zen and the Art of Real Estate Investing, Jonathan chats with Jamie Banks, an MTR investor. Having started her career path with underwriting and co-hosting, Jamie transitioned into a multifamily investor focusing on mid-term rentals, with over 20 managed properties.
Jonathan explores Jamie's journey from commercial lending to real estate investing as they open their conversation. Jamie has a pragmatic approach to investing, which emphasizes cash flow and building a network. She articulates her logic for choosing mid-term rentals (MTRs) as her niche, explaining their versatility across market sizes and why it’s valuable to understand local dynamics. As Jamie shares thoughts on identifying ideal tenants and optimizing property listings with videos, she reveals her strategies for navigating the MTR landscape successfully. Jamie makes a compelling case for integrating mid-term rentals into your investment portfolio.
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Jamie Banks isn’t waiting for prices or interest rates to fall. Instead, as long as the deal works, the property cash flows, and it meets her KPIs, she’s still moving forward with property purchases.
Mid-term rentals can work any market size because temporary housing is always needed.
Creating videos for your MTRs can prevent problems when the tenant arrives. If there are mobility issues or other concerns, a video can reveal those to a tenant before they arrive and help them decide if this property is a good fit for them.
Using college students as “runners” to scope out your properties when you can’t be there benefits the students and the owner. Student schedules are usually flexible, they work at a cheaper rate, and they get to learn about real estate from you.
Mid-term rentals may not be on your radar yet, but Jamie Banks wants to share the benefits of this under-utilized asset class.
If you want to learn more about Zen and the Art of Real Estate Investing Podcast, check out http://www.trustgreene.com/podcast/zen/138 .