WOW...talk about timing, this is right up my alley! Been in the medical field 14 years and I recently cut my hours back in order to update my living space because I wanted to have another stream of income. Working in the hospital I see so many traveling nurses and CNAs coming from long distances and even from Canada just to work at my hospital. Now some of the long term nurses are joining agencies because the pay is better. This video is definitely a light bulb moment. Thank you from Washington state. 🤗 Subscribed.
Dont count on it.. this guy is unrealistic what travel health staff will pay. We are sacrificing a lot to leave our home states, & sure wont spend that on a rental, it would defeat the purpose. This guy is off the charts.. not realistic. We are hardly there, working all the time, why would anyone spend hard earned money, on an expensive rental when not there much? Hotels offer us good deals if other accommodations are few pickings. Agencies wont pay that because it comes out of total pay, and they know .. nurses wont go for it.
@@blueskiesforever114 I agree. I’m a travel nurse going to Seattle and I just rent a room up there from a friend for $630/month. I won’t spend my travel money on expensive housing. I want it cheap. I only need a place to sleep and shower and a small spot in the fridge for food. Nothing fancy lol
I am I. Washington state as well and very interested in started to house for traveling nurses, can I please let me know how are things going on your end? Did you get started housing nurses?
I'm a travel nurse, but I travel in motorhome and use RV parks primarily. I know most travel nurses use furnished finder. And most all travelers look for pet friendly rentals.
This is good then you understand the cost and what you get for that cost. There's no free lunch. You pay for gas you pay for all the things it cost to run that motorhome God for bid it breaks down you understand now the value of a clean, safe furnished home that you don't have to worry about all those other things. I love it when people do things like this, because it gives them a better appreciation when they choose to rent.
Awesome video. I just got my first travel nurse. Everyone else in my small town is jumping in the Airbnb bandwagon, I’m keeping my mouth shut because I’m making more than they are with less turnover. Hoping to convert my other two rental properties to “mid term” rentals as well.
So very excited I stumbled upon this video. I am a semi-retired nurse living in a huge beautiful house by 2 large hospitals. I also own 2 vehicles so now I am thinking instead of doing PRN work I need to look in mid-term rentals! Thank you for the information good luck in your endeavors.
My wife and I started doing short and very-short term rental on our property some time ago. We eventually figured out that almost 100% rental of the unit with as short as 1-2 day low-end rentals was wearing us out. We first increased our daily rental rate, and then discovered renting to traveling professionals. What a difference!!! Considerably more $, while being considerably less work. Seems like we could probably ask and get even more $/month than we are. Also interesting to consider looking into adding auto lease.
My man! this one is incredible. Thank you so much for sharing this and bring Jesse into the network! I own a duplex in Manchester, NH and we have planned to rent to traveling nurses since day one. Currently in the process of rehab + furnishing. I'll update you as we continue along :) appreciate the effort you put into the interviews!
I would imagine that nurses travel alone and without their family so they would want one room with a keyed door, a studio or small house. Makes me think that renting the whole house to travel medical personnel wouldn’t book up as much. Which way should I go with what I’m offering? One room each with lock or the whole house ?
@@suziesebastian633 Most travel nurses travel alone - they need a furnished bedroom and most prefer their own bath - sometimes they'll share a bath. Doesn't have to be keyed - unless that's what u want to do. Clean, Comfortable, Safe and Close to the Hospital/Medical Center. Some work the day shift - and other's work the night shift - it has to work with your schedule. Furnishedfinders is the BEST!!!!
This dude is not realistic. We dont pay that unless youve got family along for the ride and even then.. hes pushing trying to be greedy and an opportunistic. You wont get any nurses that way. Just saying
I wouldn’t rent individual ( this becomes a headache). Turn both spaces into their own units - start reaching out to the local hospitals - find out if they’re directly hiring travelers or if they’re outsourcing. Usually it’s a specific recruiter!
It's too much liability for the hospital to do any referrals of any type I know this personally these guys are making it sound like it's so easy and it is not as easy as they're making it it's a lot of work a lot of responsibility and liability
The hospitals are not dealing with individuals no they're not too much liability they will not do any referring out to individuals in the community because of the liability it puts them in I know I worked with the hospitals..... I
Ive been travelling fir 4 years now, not once seen a nurse travel stay charge or advertise for 6,000. Thats so wrong, trying to overcharge like that. You wont get any takers. FYI we have expenditures back at our home states, mortgages, car payments, kids in college, nobody pays that. Dream on!! Average travel nurses, wont spend that, we are hardly ever there, but working. Most share a place with another nurse, or if solo not over 2500.00 a month max. and thats an awesome place. So it woukd be better to be realistic. Another FYI. Agencies are mandated to pay stipends according to GSR, who HAVE NOT increased stipend pay for inflation. ( rent, food, fuel). This is by far the worst time, to try to scam travel nurses, we just arent making that big Covid pay anymore.
I am fixing up currently an 8 bedroom house with 2 fulll bathrooms. 2 hospitals nearby. Given it is less than 4 miles from the hospital and plenty of parking off street. What would you like in order to interest you in renting a room in this house?
Have a rural 16x80 manufactured home on 3 acres in west central Wisconsin near Eau Claire. All paid for except needs utilities hooked up and electric brought in about a hundred feet yet. Considered eventually renting it as a short term rental.
Jesse… I’m not myself for last 36 years… thank you for opening my freaking eyes man. Actually you are my neighbor, almost. I’m from Sacramento. Let’s get up and clean the house now 😃 Real Estate is a real deal.
Wow just saw your video and I'm blown away. We have a nice home in the country about 30 miles south of Portland, Oregon. We built it in 2016 with a Caceda apt for my mother in law who passed away in May. We've been wondering what to do with it, Air B&B or my husband's man cave but this seems like a wonderful idea since I've just retired. We are quiet and low key people and having a renter long term is not what we would want but this seems ideal for us !!
Currently I am building a Airbnb in Joshua tree which is only 5 miles from their major medical hospital, and I knew I wanted to make money but I have been a recruiter in the medical industry for the last 10 years and a headhunter for a total of 20 years. I know how to net work very well and this yes was a lightbulb moment.❤
Joshua, I am listening to this 3 months later. Excellent interview. Jesse shared a lot of knowledgeable information. Thanks to both of you for a great content.
# Mid term rentals ~ I loved it. not for me, but for a widow who needs extra income so she won't loose her house. What a break through for her life. Jesse and Joshua will be her hero's with this insight.
Hospitals have started to wise up and fight back about the excessive travel nursing trend. Don't count on travel nursing sustaining at the volume it has. Very few travel nurses can find reliable employment anymore as of Summer/Fall 2022. I am a nurse. I know.
In denver there are currently over 500 job placements being advertised for traveling medical professionals. I'm not worried. Keep in mind that nurses are not our only tenants.
You clearly don’t know what your talking about. I’ve been in and out of the traveling nurse gig for years and it will never die out. Nurses will always be in demand. It’s just common sense. Where do you get your information??
Mid-term rentals!!! Great podcast, thank you both for taking the time to do it. Also a big thanks to Jesse for dropping more knowledge like he did at Walnut Creek. You guys gave me some new ideas, looking forward to us linking up again soon.
I’m a nurse and will start travel nursing soon. $5-6k seems excessive considering the stipend one receives for housing. Not to mention it seems like you’re exploiting nurses, the thanks we get after the pandemic.
*19:33** - Man, I'll tell you WHO TRAVEL to Modesto - people who drive to LA from Northern California need a place to sleep in between. AND THEY NEED A PLACE ON THE WAY BACK. I've been there multiple times because of that reason.* 😊
Housing is way too expensive for travel nurses and the entire healthcare industry due to inflation all the way around. Nurses have 2 house expenses: home and travel. Government does NOT allow us to write off any expenses with taxes.
Currently watching the video. I currently work for a nursing staffing agency so I won’t have any problems finding RNs. Interested in what you guys have to say.
This story resonates with me completely. I inherited property in Los Angeles and the tenant didn’t pay for 2 years because of Covid and I couldn’t evict because of the eviction moratorium. So, I sold the property and bought in Nashville. My real estate guy kept talking to me about having travel nurses as tenants - Vanderbilt University is there. My next real estate purchase wil be in Nashville for AirBnB/travel nurses
No nurse wants to work for Vanderbilt hospitals due to the unfair Nurse Radonda Vaught fiasco. Don't know a nurse who will ever work for Vanderbilt ever nor anywhere in Tennessee due to how unfairly they are charging and convicting RNs of crimes. Stay out of Tennessee for this idea....
We have to move for about a year so we are going to try to rent our house to a travel nurse since we are in a big medical community and we live near the hospital. We also want to keep our vehicle for when we return. His model might be the one we want to use
Powerful interview. I love the analogies you made and examples. Lots of amazing nuggets. I have a question for you, can I do midterm rentals on a property I don't own but rent. Please advise......Thanks New subscriber here 😁😁😁
Many people convert from being the traveling professional, to providing housing for them. You have an advantage because you understand the industry and the travelers needs from the inside.
This is perfect for me... I am an RN who is doing part time consulting remotely.. I am moving to Vegas soon and this info resonates with me as I plan to retire by next year. Would love to try this to augment my retirement income. I will be a good support to that travel nurse.
I live in Vegas and am looking for furnished homes to do a rental arbitrage. I'm also a realtor, let me know if you need any help when you get to Vegas. You posted this 5 months ago so not sure if you are here in Vegas now March 22, 2023
Ok so I have a 3 bedroom house that can be turned into 2 units. Both floors have their own entrances. Full bathroom, full kitchen, living room. The icing on the cake… property is situated a few minutes away from the number one hospital in the nation. My question is should I rent out the bedrooms per a bedroom or per a unit? I want to avoid awkward situations with nurses that don’t know each other.
Based case scenario would be to reach out to nurses on furnish finder to see what they think. Or you could also reach out to Jesse. His IG is in the description 🙂
Some nurses actually don’t mind renting individual rooms, I like to rent the entire house through contracts - or connect with the recruiters who actually pay for the relocation and housing for the clinicians. This ensures higher returns
Thank You for this great content. Although I did not search for this, it could not come at a more perfect time. I’m so glad I listened to your content and chose this over netflix. Thank You Josh!! Thank You, Jessie!! GREAT MASTERMIND 💪🏼
I am on a travel contract in Orange County California. I am living in an extended stay for $3,000. A month. Most places here are $4,500 a month. My contract is 13 weeks.
#Midtermrentals. Please do a show together . I cannot believe, how generous you both are in sharing. This information is so valuable. I can see ourselves getting out of the grinding Rat Race.
Yes, if you are single and young it’s easy. But if you have kids, the long term assignments are long and after a while you just want your own bed. If you can do it as a couple, it’s easier. Some short term assignments you can be given the worst, sickest patients or ones nobody wants. The temp gets the shaft. It’s exciting at first, but if you have a family you just want to be with them.
How are you finding the agencies that hire these nurses/medical staff and who do you talk to within that agency? So you contract directly with the agencies? OR how do you contact recruiters directly??
@@JoshuaBaldovino I asked him about taxes, if materially participating in MTR, can this offset w2. (He said Yes!)Maybe others will benefit from that question too. Other question related to that, will the deductions matter what kind of loan I choose (like me, I am thinking to do a second home loan). And if I choose an arbitrage while securing finances, will the hours for management for that MTR counted as material participation? I just want to my losses be deducted to my W2 lol! Thanks for being patient! Newbie here
@@catjav5603 If you self manage and can qualify for the real estate professional designation than you can do cost segregation on you MTRs and get huge tax deductions. Yes arbitrage hours count.
It's the feedback from the nurses in the comments for me! I want to know how to make our home comfortable and affordable for the medical professionals that are traveling, more like a sanctuary where they can decompress. I have several traveling medical professionals in the family and they value their peace!
Is it necessary to establish your own contract with the travel agencies, or do you have the conversation and they provide the agreement? Samples/script to share?
Excellent content, half way through the video, and hope you can share what sites Jesse advertises on? I have a STR in Scottsdale, AZ. Thanks, again. ;-)
Great information! I’m retired in a tiny town in Oregon, not sure if mid-term rental would be needed but I’m going to check into it. I’m aware of the short-term rental trend and how that trend is creating a market for affordable long-term rentals and I wonder how this is all going to play out over the next few years. This mid-term rental idea might be just the ticket to allow me to travel. Hummm
Thanks for the info. But are you saying that there’s profit after 2k to 3k mortgage/utilities/property tax and 25-40% property mgt fee and covering repairs budget and vacancies?! how do you get finance with decent interest rate without proof of steady income of a day job? Will recruiting agencies be willing to pay more than local Airbnbs and on top of paying the salary of 10k a month? How realistic will a student from Jesse’s class get contracts with hiring recruiters? .
The hospitals in Modesto are hiring a lot of travel nurses. Prolink staffing is one of the businesses bringing in the travel nurses to Modesto. There are not enough experienced medical personnel in Modesto. Nurses who worked one year are becoming nurse managers in Modesto. There are a lot of inexperienced medical personnel so to bring in the experienced medical personnel they are bringing from the outside. Usually nurses need 5-10 years to become a nurse manager. Don't go to a hospital in modesto.
That's true for everywhere, every state. Except you failed to learn that hospitals are now fighting back against travel nursing and their agencies. The travel nursing trend has fizzled out big time and will continue to fizzle. Rather focus on providing housing to nursing who are employees of hospitals, not travel nurses. That's the only long-term sustainable income you can count on.
Super excited about this podcast. I'm retiring in 2024 and plan to travel. I'm looking into mid-term rentals. So glad I found this podcast so I can learn and maximize the use of my property.
I'm a little mindblowing that I start searching about nurse hosting and I get a video talking about the town I'm at (Modesto). Good job FBI-guy that's checking my search history lol
Im a travel nurse, Ill be happy to give anyone information on the quickest way to snag a travel nurse tenant. That is if you want steady renters.. and get to be known in smaller towns .. as a great landlord, who has a place comfortable and travel friendly, plus nurses are the best to rent to, regarding ethics, paying on time, and being flexible. Its goes along with the job.. Not everyone makes a good host,or landlord, mainly because they dont fully understand the business, and have unrealistic expectations for rent, like this guy is promoting.
@Joshua Baldovino. QUESTION: For an east coast region such as Baltimore or Washington, DC... And let's say that research indicates that there is (Medical Staff) demand for 2-3BR units... What is the minimum monthly Cash Flow (net profit) that a property should be doing (in order for it to be a "good deal")? Regards... Sat. 5/21/2022
I am a travel nurse and it’s disgusting that people charge lots of money for a crappy room in a crappy house-so what do I do and my fellow nurse, we move on.
As a landlord, I agree. That's why Furnished Finder has nurses put reviews on experienced rentals so nurses can rent from good, reputable landlords with nice housing.
That's exactly where I'm at right now, 1 side was rented this month for a 1 year contract but wanting to try out the other side for travel nurses, airbnb, vrbo or STR. Just need to furnish it which is around $3,000 for a 2 bed 1 bath.
@@rangelconstructionpainting1091 Thats great man. Im assuming the 1 side thats rented pays majority of the mortgage? $3k to furnish 2 bed 1 bath is a great price point. Im doing a 1 bed 1 bath 750 sqft for roughly $1,200 to furnish. This is my first personal property but the firm I work for has a bunch & has seen better a return from travel nurses.
@@realestatemotivated yessir. My mortgage is $1,700, we just refinanced it after the rehab in March. The long term tenants rent is $1,900 they pay all their bills. So I already have $200 cash flow from 1 side. So whatever I get from the other side can go towards the principal or passive cashflow. I'm also working on a 1bed 1bath 1 of my tenants moved out yesterday so getting ready for the next tenant but will most likely keep that one as a long term rental at $1,200 per month, it's in a triplex that is paid off so everything from that one is pure profit at $3,375. We've owned that one since 2007.
@@rangelconstructionpainting1091 Nice! You are killing it! Thats great passive income. Thats my goal for this current duplex. Should have around $30k in equity at closing and will house hack until next year and plan on doing a new construction duplex (if market material prices are better).
Q1- How many traveling nurses rent as tenants inside your $4,000 $5,000 and $6,000 properties? Q2- Do you have a minimum lease - Daily? Weekly? Monthly? 90 days? Thank you!
video, quick questions...do you include shampoo, soap, laundry detergent, toiletries for any of the stay or just a few days worth, or none? Also, do you have housekeeping come during their stay?
Yes we do. You need to at least get them started with supplies but they will replenish them. Just set the expectation up front. I give them my cleaners information, I don't provide it.
You just want to make sure the cash flow is there. I look for a 15% cash-on-cash return. West coast is expensive, I recommend outside of California because of the difficulty with evictions and squatting risks. Many cheaper places to invest.
how do you check to see if a location has 70% occupancy? using air dna only gets you short term data, wondering how you can find data on midterm and long term occupancy rates
