DECEMBER 17, 2024
#111: Revolutionize Your Real Estate Strategy with Midterm Rentals
Midterm Rentals: Revolutionizing Your Real Estate Strategy with Katie Lyon
Are you looking for a game-changing strategy to boost your real estate investments? In this episode, I sit down with Katie Lyon, a marketing expert and savvy midterm rental investor, to explore how midterm rentals can transform your investment journey.
Katie shares her personal story of how she and her family unexpectedly ventured into midterm rentals and quickly scaled their portfolio to success. You’ll discover why starting small is often the key to building a solid foundation and how Katie identifies the best properties while fostering valuable relationships with landlords.
We’ll dive deep into the operational differences between midterm and short-term rentals, with Katie offering expert advice on managing remote properties, overcoming HOA challenges, and streamlining day-to-day operations.
If you’re considering midterm rentals but don’t know where to begin, this episode is packed with actionable insights that will help you rethink your investment strategy. Tune in to find out how midterm rentals could be the game-changer your portfolio needs!
Katie’s Journey into Real Estate Investing
Katie’s journey into midterm rentals began unexpectedly, but it quickly proved to be a savvy investment decision. She shares how she got started and why starting small played a significant role in scaling her real estate portfolio.
Selecting and Securing Properties for Rental Arbitrage
Katie explains her strategy for selecting properties and negotiating rental arbitrage agreements with landlords. You’ll learn about the key factors she considers when securing properties and building strong landlord relationships.
Understanding the Hybrid Approach
One of the unique strategies Katie discusses is the “hybrid approach” to rentals, which can be a huge benefit to property owners. She explains how balancing property types and sizes within her portfolio helps mitigate risks and maximize returns.
Operational Differences Between Midterm and Short-Term Rentals
Katie offers valuable insights into the key differences between midterm and short-term rental strategies. From the platforms used—such as Airbnb versus Furnished Finder—to managing remote properties, you’ll get a clear picture of how midterm rentals can simplify operations.
Highlights and Key Points
[00:19] A short introduction about our guest Katie Lyon
[01:36] Katie’s journey into real estate investing and how she got started with MTRs
[04:12] How Katie started and built her real estate investment portfolio
[07:35] Katie’s approach to selecting and securing properties for rental arbitrage
[09:13] Katie’s strategy for negotiating with landlords to approve rental arbitrage agreements
[11:30] What are the key factors Katie looks for in a potential partner
[14:31] Katie’s real estate portfolio and her approach to balancing property types and sizes
[16:24] The importance of understanding one’s personal risk tolerance in real estate investing
[17:33] What is “hybrid approach” to renting and how this strategy can benefit property owners
[21:37] The key operational differences between that short term and mid term strategy
[25:10] Katie talks about the difference between Furnished Finder and Airbnb for midterm rental hosts
[27:14] Katie discusses their process for evaluating potential tenants as midterm rental hosts
[28:49] What are the challenges that Katie faces and how she navigates them as a remote property host
[31:37] Katie explains how she manages accesses to rental arbitrage units
[33:25] Katie’s view of townhomes within HOAs and their benefit to her rental properties
[36:57] Katie talks about her insurance provider for her rental properties
[38:18] Katie’s advice for beginners in midterm rentals
[39:50] The lightning round
Golden Nuggets from Katie Lyon
- Positioning Yourself: “You have to position yourself like you are giving just as much value as you’re getting.”
- Simplicity of Midterm Rentals: “What I like operationally about midterms is it’s just so simple.”
- Action Over Perfection: “Learn until you’re just comfortable enough and then try. There’s never going to be a perfect time.”
- Worry Less: “Worrying is one of the most grossly underestimated wastes of time and energy because worrying gets you nowhere.”
Key Takeaways for Beginners in Midterm Rentals
Katie’s advice for beginners is to start small, learn as you go, and not wait for the “perfect time.” The simplicity and ease of managing midterm rentals compared to short-term can be a massive advantage, especially for those new to real estate.
Connect with Katie Lyon
Facebook: mskatielyon
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