Behind the Scenes of My MTR Project

In this post, I’d like to share with you some plans for a MTR that I will manage. This property is not located in a major city but does have a huge network of hospitals and medical facilities that serves a broad area around the town. My dad owns a building here that he used to work out of. The property is set up with an office on the main floor and a residential living unit on the top floor.

This unit has had some updates to the bedrooms and hallway but needed a lot of work in the kitchen. Recently, we have gone over to this property and began the remodeling process. We opened up what used to be a small closet and turned it into a pantry. We have also painted the trim, walls, and ceiling with a fresh coat of paint. Our plan is to paint the cabinets as well and put some new hardware on them. At the time of this writing, we have cleaned the cabinets and removed the doors to prep for paint. We also are planning on redoing the floors and have purchased LPV floors that will not only look good but will stand up well to usage by tenants.

The plan with this rental is to use it as a MTR primarily renting to traveling nurses or other health care professionals. Below is some information from Furnished Finder that shows the search data for the town. (I have blacked out the town name for privacy)

This data shows us that there were 1,345 searches and housing requests for the town but only 12 total units in the town. This tells me that there is a great need for more MTRs in the town. Since there are such few rentals and a lot of searches, I feel that a good portion of these people are staying in hotels. Our MTR would not only be more of a homey feel for the person to live in but it would also be cheaper than these hotels. I feel that with our property we would not have to deal with a lot of vacancy and that it will be a solid investment. If this unit ends up being a success, I see myself purchasing a property of my own in the town to do the same thing.

As this process continues, I will keep updating this site on how everything is going. Keep working hard and take action! You’ve got this.