Mid-term rentals are an often-overlooked asset class that is gaining steam with investors. When short-term rentals prove to be too much work, mid-term rentals could be the answer.

On this episode of Zen and the Art of Real Estate Investing, Jonathan’s guest is Jamie Banks, a mid-term rental (MTR) investor who got her start with co-hosting. Jamie is also a multifamily investor and has quickly become an MTR expert with more than 20 managed properties under her supervision.

As their conversation begins, Jonathan uncovers how Jamie started her post-college career with commercial lending, which quickly piqued her interest in becoming an investor. She explains why you should always take the deal as long as the numbers work and the property cash flows, the importance of building real-life connections with other investors, how she decided on MTRs as her area of focus, and how she hopes to set an example for other minorities in this asset class. Jamie shares why MTRs can work in any market size, the criteria you can use to identify your ideal tenant, and why you must understand the area where you’re offering an MTR. You’ll also hear Jamie’s reasoning for including a video in every listing, who’s using MTRs, the pros and cons of co-hosting, and some strategies she uses to remain successful in this asset class.

If mid-term rentals aren’t on your radar, Jamie Banks makes a compelling case for why they should be.

In this episode, you will hear:

• Jamie Banks’s introduction to real estate with commercial lending and asset management and moved into real estate investing
• Taking the deal as long as the numbers work and the property cash flows
• Having a healthy dose of imposter syndrome to overcome your fears and propel you forward
• Building real-life connections with other investors and deciding on medium-term rentals as the asset class to focus on
• Being a minority in the investing space and setting an example for others to follow
• Why MTRs can work in any market
• Identifying your ideal tenant for your MTR
• Doing your due diligence in an area and understanding the area where you’re offering an MTR
• Video versus photos in a listing and setting expectations about the property ahead of time
• Who uses mid-term rentals
• The properties in Jamie’s portfolio, where she sees gaps in the market availability, and what her focus is now
• Jamie’s strategy for narrowing down her next targeted market
• Her favorite things about mid-term rentals
• What makes mid-term rentals different from short-term rentals in terms of cleaning needs
• The pros and cons of co-hosting and how she does it effectively remotely
• The importance of having a runner to check in on things at an inexpensive rate that offers them experience as well
• Jamie’s advice for others who want to get into the mid-term rental asset class

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If you enjoyed this episode, we've created a PDF that has all of the key information for you from the episode. Just go to the episode page at http://www.trustgreene.com/podcast/zen/138 to download it.

Supporting Resources:

Radiate Real Estate website - radiatere.com

Find Jamie Banks on Instagram - www.instagram.com/jamiebanksrealestate

Connect with Jamie on LinkedIn - www.linkedin.com/in/jamie-banks-mba-b491bab5

Radiate Real Estate on Instagram - www.instagram.com/radiaterealestate_

Website - www.streamlined.properties

YouTube - www.youtube.com/c/JonathanGreeneRE/videos

Instagram - www.instagram.com/trustgreene

Instagram - www.instagram.com/streamlinedproperties

TikTok - www.tiktok.com/@trustgreene

Zillow - https://www.zillow.com/profile/StreamlinedReal

Bigger Pockets - www.biggerpockets.com/users/TrustGreene

Facebook - www.facebook.com/streamlinedproperties

Email - [email protected]

Episode Credits

If you like this podcast and are thinking of creating your own, consider talking to my producer, Emerald City Productions. They helped me grow and produce the podcast you are listening to right now. Find out more at https://emeraldcitypro.com Let them know we sent you.