Looking for a lucrative side hustle that fits into your busy life? Discover how Lara Stuart, a registered nurse with 28 years of experience, built a successful mid-term rental arbitrage business with Furnished Finder while maintaining her W2 job and family life. In this episode of the Furnished Finder Landlord Diaries podcast, hosts Kelly Bailey & Katie Lyon dive into how Lara secured 100% of her bookings through Furnished Finder, partnered with an upscale apartment complex, and self-manages her out-of-state rentals with ease.
Chapters
0:00 Welcome to The Landlord Diaries
1:40 Why is MTR rental arbitrage an appealing income stream?
7:00 How to pitch corporate leasing to high-end apartment complexes
8:05 Ten out of fifteen complexes said YES to corporate leases!
14:40 How much profit can you make with rental arbitrage?
19:15 The power of a great cleaner & team for out-of-state management
24:10 Furnished Finder tools: Message templates & Worry-Free Waiver
28:10 Annual arbitrage projects you should prepare for
34:05 Why your space doesn’t need to be perfect to get started
Episode 131 Transcript
I started with probably about 10 or 15 properties. It was simply kind of cold calling them after I kind of vetted what they were offering. For me, it was very much so about the amenities. It's got to be gated. It's got to be well lit. It's got to have a resort style pool. It's got to have a, you know, state of the art fitness center.
It's got to have all kinds of amenities that. My guests and my clients are looking for. So after calling several places, I was surprised to find that maybe of the 15 that I called, I think 10 were open to corporate corporate leases. Welcome to the Landlord Diaries, where we talk about midterm rentals and the opportunities behind them.
We'll share landlord stories, talk about maximizing investment potential and discuss how to live the very best landlord life. This podcast is proudly brought to you by Furnished Finder, the leader and largest online marketplace for midterm rentals. Remember to like and subscribe if you enjoy our content.
Meet Lara Stuart, a registered nurse with 28 years of experience who is balancing her W2 job. And family time with a thriving midterm rental arbitrage business. In this episode, we'll explore how Lara has found success partnering with an upscale complex that has all the bells and whistles, navigates out of state arbitrage and leverages platforms like Furnished Finder to achieve 100 percent of her bookings.
Lara, we're so excited to talk with you. How are you today? I'm doing well. Thanks. Thank you for having me. Yes, ma'am. Uh, so why don't you start us off by briefly explaining what midterm mental arbitrage is and why it was an appealing income stream on top of your nursing profession. So, rental arbitrage for me was.
It's kind of a no brainer because I could still maintain my W 2, but my cousin actually kind of helped me get started with rental arbitrage. Um, so I've got three units in Houston, Texas. I've got one, one bedroom, one bath. I've got another one bedroom, one bath, and then I've got a two bedroom, two bath. So it's going, it's going very well.
So why, Lara, did you decide that you wanted to add some additional income stream on top of your, uh, nursing profession? Well, after about 28 years of nursing, I'm kind of ready to start kind of stepping away from that and pivoting. Although I do love nursing, I love the profession, I'm just getting older and I'd like to work a little smarter, not harder.
Um, so I feel like the nursing. Travel nursing, I've been a nurse who's traveled. I know what the traveling nurses and traveling professionals are looking for in terms of accommodations and the rental arbitrage model just makes sense. You're not committed to a mortgage, uh, you know, full transparency with the.
Uh, apartment complex. They know that I'm going to be turning around and renting it out with my own lease to my, my guests. That's one of the most amazing things about the midterm rental strategy is you don't have to, like, you can give up your W 2, uh, if you want, but you can. Easily self manage your midterm rentals alongside of a W 2.
Katie and I do that while we work for Furnished Finder and we partner with our spouses. So it's a great option to just have an additional income stream added to what you already have going on. Katie, you have scaled to, I think, around 14 arbitrage properties in the last two years, probably. So why don't you give your, uh, feedback about, uh, Yeah, we love arbitrage for so many reasons.
One of the biggest ones being that it allows us to increase our cash flow, um, and increase our number of rental properties much faster than if we were to, um, straight up purchase all of out new ones. Um, I know, you know, we could use private lenders. We could use hard money loans, things like that. Um, But just for the sake of simplicity, we like to try to maintain all of the full ownership when we are purchasing a new property and not take any outside money.
Um, besides, you know, my family and I do this together. So it's kind of a group effort as is. Um, but it also allows us to explore the market. It allows us to get to know the travelers that are coming to the area and discover things that even though they're markets that. Either I live in or my family lives in, we still might not know or realize about properties there or travelers.
So it just, it really allows us to grow and to kind of learn more about, Hey, what types of properties do we like managing? What types of properties do we want to have more of without having that hard commitment of purchasing? Definitely. And let's take a quick minute. Uh, Lara, why don't you go first? I want both of you to kind of share how easy midterm rental arbitrage is to self manage and how you've kind of, uh, set yourself up for success, uh, with Furnished Finder, uh, in your midterm rental arbitrage businesses.
Yeah, um, well, Furnished Finder is my go to platform for finding my guests. Um, it has been the cat's meow. It's been so wonderful. Um, and I have very, very, very little vacancy. I have repeated The formula in terms of making sure I'm up keeping my calendar. Um, it's been really, really easy to manage. Again, I've only got three properties, but I am managing it myself.
I've got my cleaning crew there on the ground. Um, I, it's, it's actually been wonderful because the apartment complex, um, the management it's The leasing office, they are so easy to work with and they make it so much easier for me to get things done. The little things, the logistics, the, the simple things, um, I've got a really good team team there.
Yeah. Self managing arbitrage with Furnished Finder is incredibly simple. I mean, the, the platform itself, Furnished Finder, we all know is. It's simple in the best type of way, right? We're letting, we're letting you connect with tenant leads directly and not getting in the way of that communication. So that's fantastic.
But truly managing arbitrage isn't any different than managing any properties you own, right? With the exception of if a water heater breaks or a furnace breaks or an air conditioner unit breaks or a refrigerator breaks. All I have to do is play communications manager and connect with the owner of the property and then say, okay, when can we get this fixed?
Communicate it back to my guests, things like that, but I'm not actually having to replace the refrigerator. So the expenses and the repairs and maintenance costs for me decrease a lot, which is another hidden bonus of that arbitrage model. I love it. Uh, well, let's get into, uh, Lara's bells and whistle complex.
One of the most common questions I see on our YouTube channel that comes in is, but how do you actually pitch, uh, your arbitrage partnership to a complex? So what did that conversation look like for you, Lara? Um, it was actually easier than I had thought. Um, I found the area that I I wanted to research and see what, um, apartment complexes would be open to rental arbitrage.
So I started with probably about 10 or 15 properties. It was simply kind of cold calling them after I kind of vetted what they were offering. For me, it was very much so about the amenities. It's got to be gated. It's got to be well lit. It's got to have a resort style pool. It's got to have a, You know, state of the art fitness center.
It's got to have all kinds of amenities that my guests and my clients are looking for. So after calling several places, I was surprised to find that maybe of the 15 that I called, I think 10 were open to corporate, corporate leases. Um, and, you know, these are large apartment complexes that have. 200, 300 units.
They don't want their units sitting empty. I think the complex that I'm at with my units, they allow up to 16 rental arbitrage corporate leases. So I've got three of the 16. Okay, Lara, I know that everybody is intimidated to, you know, ask for that first relationship with an arbitrage partner. Um, it's always my biggest advice to just pick up the phone call or pick up the phone and call and inquire with them, right?
Ask if they're open to partnering, but I would love to hear what your approach to that has been and maybe any tips to anybody who is considering rental arbitrage and is just really nervous for that question of, but how do I get to a part? How do I get a partner to agree to this? Um, I just, you know, presented it in a very professional way, um, explaining what my company does, you know, my real estate nurses, um, company, my LLC, and that I have other rentals.
I've got a long term rental here in California. Um, so I do have a proven track record of being able to manage, um, guests and handle requests. Um, I have. A good business credit score. All those things that they would feel more comfortable renting a unit to me, and it just has proven to be a really good relationship.
I was nervous, of course, at first, but, um, I think it's just the matter of connecting to the people that are in the leasing office, the property management, the regional management, um, and just get a sense of what they're, what they're willing to do. And I think for a lot of. Newer complexes. This one was built in 2020.
Um, they had very limited experience in this, this arena. So they were learning kind of as they were going as was I. So we both kind of. Learned as we went along and just did our best to really communicate throughout the whole process. Get the lease done, my company with them and then my lease for with with myself and then my, my guests.
So, yeah, I think you, I think everybody has to remember that when you're, this is a. A partnership, right? When you're working with a landlord or a property owner or manager for this arbitrage partnership, it truly is that like, it's just as good for them as it is for you. So that's how you have to approach it from the beginning.
It's not like, would you let me do this? Would you ever agree to this? Or can I explain this to you? It's more like, Hey, I want to work with you. I want to be your partner. And. Um, to them, you are someone who provides a fantastic tenant. You know, you keep the unit or property in tip top shape. You're going to pay on time.
Um, it really is mutually beneficial. And I think that's the biggest thing everybody has to remember is like, you're, you're not asking for a favor, right? You're asking. Pay them rent every month is what you're asking to do. Well, and it's also bringing people that might not know the complex or I I've had two people so far that rented my units that now have subsequently gone on to sign a lease.
For a year for themselves in that same complex. So it's a, it's a great marketing opportunity for them to have more exposure through me and my company, bringing people in, um, that are like, I love this place so much. I'm, I'm just going to say, and so it's worked out in their benefit as well. So
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One. One thing that I love about. Arbitrage is just, you know, it's that idea that all you really need is a cleaner. Like you ladies are saying, everything else is kind of taken care of by the complex. And Lara, you mentioned that the complex is actually fantastic and specifically a couple of people on the team that you really have enjoyed working with.
Why don't you give one of those examples of how the complex has gone above and beyond for your. guests, uh, on top of, you know, you're hosting through Furnished Finder as well. Yeah. So the leasing manager, her and I have like connected on so many other levels. Um, she's very responsive. We speak on the phone, we speak via email.
Um, I think that is the reason why I'm having such good success is because of that relationship. And then. Because of the relationship I have with her, I've been able to cultivate other relationships with the other three or four people that work in the office, the manager as well. Um, so that's really made a big difference.
So when that water heater went out. She gets on the phone with the maintenance guys and in a couple hours, it's resolved, you know, or there was an issue with the stove. Um, so that got replaced within not even eight hours. So it really helps to have a good team on board. My cleaning people have gotten to know the front office.
So they work in tandem. If there's an issue with, you know, the package locker system or whatever, they can go to the front desk and she can ask for, you know, the leasing manager by name and Oh, I'm Lars cleaner. You know, so it's just been a really wonderful symbiotic relationship. So awesome. I think the last question I want to ask for both of you before we transition to talking about, uh, out of state, uh, arbitrage management is the idea of the.
financial side of arbitrage, right? It's like, you're not working towards the equity. So you really are, uh, you need to know your numbers well, because you're going to be paying the rent. And especially for an upscale complex, it's not going to be, you know, some, uh, some low rent that you're paying. So, uh, what is the financial upside of arbitrage for both of you?
I feel like the financial upside, um, is. Again, you're not paying a mortgage. You know, there's, there's less startup costs for me. I can get a unit furnished, um, in a matter of days, um, for not a whole lot of money. So, it's not a huge cash outlay to start. Um, But I feel like I've recouped some of that money as I have increased kind of seasonally on Furnished Finder what I'm asking for per month, per unit.
Um, but the complex now wants me to get a fourth unit. Which I think is a three bedroom, right? Like you've got a couple, you got a one bedroom, you got a two bedroom, and now you're going to be adding a three bedroom on this. Nice to have the variety of sizes. Yeah. So I've got two, two, one bedrooms and then I've got a two bedroom and now I'm hopeful to get either another two bedroom or a three bedroom.
Yeah. I, I'm kind of the same. I, you know, you don't get the equity building and the mortgage paid out or the, the balance paid off that you do with a mortgage. Right. So you have to know that going in. Right. You're, you're renting these properties at, at the end of the day when your lease ends, you're not walking around or you're not walking away with equity.
You're not going to have generational wealth that you can take this property and hand it over to your kids and all of those things, right? It's, it's a different strategy. Um, we like to use the cashflow from these properties to help us build. Um, accounts so that we can buy more properties faster. Um, we kind of use, use them for that purpose, you know, amongst other just kind of cash flowing reasons.
But um, you know, one of the big things is how you can add value with arbitrage. You've got two layers of profit you're trying to work in, right? You're paying the landlord and you know, cause we're landlords ourselves that they are looking to make some profit off of what you're paying. And then you're looking to also have some margin between what you are charging a midterm tenant.
So it's all about what value can you bring? My goal is always to double what I am being charged. So for example, if I pay 1, 000 in rent, I want to be able to charge 2, 000 in rent. For me, that means being amazing. That means having really good pictures, great furniture. It means having, um, You know, blackout cartons and it means making sure that there's, there's somewhere that they can take their pet and then there's parking availability.
Um, it doesn't always mean the most expensive furniture by any means. I, I am actually of the camp where I would rather replace furniture than repair it all the time. Um, But it does mean that like you're, you're giving them a service as a landlord to you're being very responsive. You're being very hospitable.
All of these things. Um, and like Lara said, you know, you have to take in the cut of utilities and wear and tear and paying for internet and any vacancies or turnovers, things like that. But there is like if, if you do it right and you're, and you're doing it, In a way where value is your core, right?
You're not just looking to like flip these units, put some Ikea furniture in there and charge three times the amount you're charging. It's not going to work, right? That's not, that's not what we're all trying to do here. We're providing a real service to these travelers. And if you do that, like this is a viable business model, right?
It's just like having, having a property that you own and you rent out as a midterm traveler, right? So many great topics on why arbitrage can be a huge benefit, uh, in this, uh, current real estate market added to your W 2 or just build scaling from the ground up. It's one of those businesses you can scale very quickly and replace your income, uh, if that's one of your goals and desires and you put the systems in.
Place starting with the first property. So with that in mind, how, what are some tips for out of state self management? And we're going to focus on, uh, Lara here because Katie tells her story and I believe it's episode 37 of the landlord diaries. Uh, and I'm sure she'll have plenty of great tips to continue adding, but Lara, what are your main tips for self managing from a thousand miles away?
Well, luckily, I have the, uh, freedom to be able to get on a plane and kind of get things set up initially. Um, but I found a really amazing cleaning team. Um, not only do they clean, uh, they will meet and greet, they will pick up keys, they will restock, they'll go get supplies. Um, so it's worked out really well to have boots on the ground that you trust that can go in and FaceTime with you and show you things and make sure that the unit is staged to a tee.
I've got my welcome book. I usually send the welcome book digitally so that the client, the guest has that ahead of time. For mailbox codes, for gate codes, for Luxor locker system codes, for everything that they would need to make sure that their stay is smooth. Do they want a garage? Do they want a carport?
Do they want a reserve spot? Um, for me, it's just about over communicating because a lot of times people are coming in from other jobs or relocating, or they're, they just did another little travel assignment. So. People are busy. So I want to make sure that I'm giving them plenty of information. It might be 11 o'clock at night that they're landing and checking in and, you know, they're frantic and you want to make sure that they know the gate code because the office is closed and it just helps to kind of over communicate and get them the information that they need so that they have a good transition when they're staying.
Um, I think that's A huge benefit that I feel like a lot of my guests say that, um, was really beneficial to kind of getting things initiated and started for them.
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And guys, one of the nicest things about furnished finder is like we let you connect directly. So right from the time that you get a lead. You can text that person, you can call them, you can FaceTime them, you can email them, you can send them a pigeon if you want. But that means that there's no awkward shift of communication methods.
So you don't have to go from this, this on platform communication and then take it off. You can start from the very beginning with text if that's what your traveler prefers. Um, and it's. It makes that very, very streamlined. You can save templates. You can save message templates in your Furnished Finder, um, message platform.
You can have all of those templates. So it really is like, okay, I've got someone moving in here, copy, paste, or select the template and go, um, communication is so, so key for out of state property management, really any property management, unless you feel like. Running around all day. But like, just because you're local doesn't mean that the tenant wants to see your face every day, but you know, so it's really like not that different, but communication is key.
Um, my husband and I, um, Went to the Midwest where a lot of our properties are over Thanksgiving and we put up Framed instructions by the door of every property and it was like hey, just in case you forget Here's the checkout things. I need you to do. Here's where the here's the parking gig. Here's the Wi Fi I think we have the Wi Fi like four places in each unit even if it's like a 500 square foot studio because You just forget.
And as soon as you don't have wifi, everybody's like, Oh my God, what's the wifi? And I'm like, I want to make it. So no matter where you look, you're going to see the wifi instructions, but it is it's it's communication. And I love that you mentioned having those reliable boots on the ground too, because there are some things where you need to be there.
And I really appreciate the platform. Like you were saying, um, even before they get there, I love the message templates. Like I can just send a message saying, here's my next steps. Here's how you check in. Here's how, you know, I spell everything out that my cleaning crew is going to meet you to provide you with the keys, kind of show you around.
Um, so I can just hit those messages. Um, and. I also can offer them the, uh, the worry free waiver, which has been, you know, a great additional ad. Um, I'm so glad that you guys have that now. Um, so it's just been so seamless to use the platform and I feel like guests are comfortable. I can quickly respond.
They can quickly respond. Um, it's just, it's just been great. Yeah, I've used Worry Free Waiver a handful of times. I have offered it to every new tenant that I'm in the booking process with and I just, I make it really simple. Would you like a refundable security deposit or would you like, um, the option for a damage waiver?
It's 59 a month and it covers up to 1, 500 worth of potential damage. Um, and if they do say I'm interested in the monthly, then I give them a little bit more information but I don't want to make it complicated because it's not a complicated product. Right. That's the whole point is that it's very simple.
Um, but I actually like that way more than a deposit on my end, because as you know, Lara, the more properties you get, the more you're like, Oh my gosh, okay, I've got how many deposits and they're here and they're there. And what do I keep for? And when I, and it's, even if you only have one or two properties, It's just a hassle, right?
It's like, you've got to collect it. Then you've got to, if there is damage, you've got to think about, is this worth having that awkward conversation that I'm going to take some of your security deposit, or do you just write it off as the cost of business? And you, you know, you just, there's so many nuances with it where it's, I love the black and white of the waiver where it's like, if there's damage, it falls within the rules, it's covered.
So. I'm loving it. One more question I want to ask both of you, uh, that is not talked about that much until you get into it and then everybody's kind of doing their own thing, but it's not one of those, it's not one of those fun topics that everyone's like, yes, let's dive into this. So what does the insurance policy look like for you guys at, for your landlord arbitrage businesses?
So the apartment complex. I found a great policy that is 77 for the year. So it's, it's the bare minimum of what they, what they require. Yeah, I have historically had an umbrella policy that I use kind of for, for all of our arbitrage properties. Same thing, liability, um, protection from that perspective.
But I'm actually currently working on some quotes with Steadily that, um, cause steadily has a product that they. can help cover arbitrage units as well. So, um, I am working through getting some quotes for that. Those are the types of things that I always do like towards the end of the year where it's like, okay, things are, you know, there's not a lot of people moving in and out.
I feel like at least in my markets in December, as it's like, everybody's kind of settling down for the holidays. So what other buttons do I need to line up with, um, the business? And the really cool thing is Katie's kind of hinting at it. Steadily is, uh, one of our partnerships now for Furnished Finder.
What we're really, really focusing on is what do you need to run a successful midterm rental business? And we want to have all those tools available for you right there in your Furnished Finder dashboard. So check it out, get a quote from Steadily, and you can actually start your plan right there from your dashboard.
Um, This is an interesting topic that you ladies kind of hinted to is that idea of what you need to look out for annually for your properties. And that's going to be different for myself with eight midterm rental doors that I own versus arbitrage. And we're focusing on arbitrage for this episode. Uh, but what are those things that you kind of want to stay on top of?
Like you're. Electric, right? Like you've got the, uh, flex plans and then you've got the locked in plans. It's like, if you let your plan lapse and you don't remember to actually come back and, and extend that, then your, then your, uh, electricity goes up. So what are some things that y'all kind of have on your, on your annual calendar for your arbitrage businesses that you like to check in and make sure are running smoothly?
No, that's a very good point. Absolutely. I definitely will check in with Xfinity and make sure that the internet, uh, the plan that I signed up for, uh, because, you know, for 12 months, you know, you signed up and then does that change? Do they increase the rates? Same with the electricity, uh, and the gas. Um, and also just the simple things like, hey, did the apartment complex change the filters?
Maybe it's time to, um, steam clean the carpets, you know, there's just things that need to kind of be done that might not get done as part of the maintenance for, for the complex. Um, and overall, those are things that add to the quality of your place. Um, the cleanliness. I had a, I had a gal who wanted to rent my unit, but she was very mold sensitive.
Uh, she said, Hey, let me go sit in the apartment for eight hours to see if I react. And, you know, the tiniest bit of mold around the vent, you know, those are things that you have to make sure that your cleaning crew is doing and cleaning. Cleaning the ceiling fans, cleaning the vents, like all the things that contribute to build up and wear and tear and could affect somebody's health or, you know, all kinds of other different things.
So. Ooh, I have to add in, because you're making me think of something I did recently that I haven't shared on the show. So, two of our units, we've gotten a couple feedbacks now of, Hey, it would be really nice to have a hood vent, uh, in the kitchen, because the two, two of the homes that we purchased don't have hood vents.
One of them is very close to doors that you can open, so we, you know, and that's definitely a costly, uh, costly thing to add, and it removes. cabinetry a lot of times. So it's like space analysis, cost analysis. So it's something that we have in the back of our mind. One thing that we've added to kind of see if it's, uh, uh, an option to like a nice addition, instead of pulling the trigger on adding a hood vent, is keeping an air purifier.
Close to the kitchen that can, they can turn on the fan and keep it kind of rotating while they're cooking bacon or whatever it is that might be, uh, more sensitive to the smoke alarm. So that's a cool new addition that I'll have to track as, as we go through the journey of it. But like you're saying with the mold, that's a nice feature that you could add for a very cost efficient, uh, to that adds value to a unit.
And then we also have. an ozonator that if someone is sensitive to smells, or let's say the last pet we just had in the home left a little bit more of a smell than you'd like because it was a golden retriever that just had hair everywhere. Well, you can bring in that, uh, that ozonator and just kind of purify the air, uh, open up the doors and windows a little bit.
So those are some nice little tips. Katie, what would you like to add to the conversation? I think, uh, I think having A cleaner checklist that is always growing and not growing just in length, but I should say it's just evolving, right? Cause your cleaner does need to be when you're out of state, like they are your eyes and your ears too.
So, um, we met with some new cleaners that we've added to our team when we were, um, in the Midwest during the Thanksgiving break and they were checking the smoke detectors during a turnover. And I was like, Oh my gosh. Yay. That is fantastic. I don't think about that until they start beeping, but that is the wrong time to start thinking about that.
Yes. So just getting these people, you know, that they can start thinking about it. I also, Kelly, I like your creative approach to solving some of these problems. We've had in the properties we own a couple of ice makers and fridges that have gone out. I'm not going to pay to fix an ice maker in an older fridge.
I, I hate ice makers. They're the death of me. I hate them in my own house. All I do is break. So I bought one of those like Amazon countertop ice makers and they make like the little nugget ice and actually the tenant was over the moon because it made faster than the fridge. So it's like just thinking creatively.
Um, and I, I think that's a lot of what out of state property management is. It's really what any property management is. But when you get out of state, a lot of times you have to get a little more creative because you can't just hop in the car and run over there. Um, but yeah, it's, it's getting creative and there's a lot of different ways to solve problems, but the key is communication.
And the key is thinking, thinking to your tenant. Like, what's the real issue here? Right? Like, because like, to your point, Kelly, the issue is probably not that there's not an exterior event. It's just that if you cook bacon, all of a sudden the house smells like bacon for a week, right? So it's just solving the underlying problem.
And I think that's just kind of a headspace to get into. And I think just recognizing that as a landlord, even if you just rent out a room in your house. Right? Even if you are a landlord on the smallest scale possible, you're always going to be improving things, right? And you're always going to be working to make things faster and better.
And it's okay to have mishaps along the way. It's okay to have things that didn't go right. It's okay to have things where you're like, ah, I should have. Check for that or I should have done that like it's it's a process right and that's okay in the midterm Midterm travelers are so fantastic I don't know about you guys, but all the travelers that I've worked with when something happens because something will happen There's they've always been so understanding and just they have always worked with me because they're not expecting to show up They're not on vacation, right?
They're there to live so they know it and they know that things happen and that equality with a midterm landlord Is about that hospitality and giving them a really good place to call home. Absolutely. Just, uh, just to add to what you were saying about, luckily the apartment complex that I have, um, they do checks on fire extinguishers, smoke alarms, um, carbon monoxide monitors.
And so that's another important thing that I found very helpful is the complex is sending me emails saying, Hey, On December 19th, we're going to be checking the smoke detectors. So I have to make sure that I'm passing that information on to my guests. You know, hey, forward the email on, they're gonna be checking.
You don't have to be there, but just so you know, they're gonna be in the unit. Um, and just making sure that you communicate those kind of things as well. Um, and I also added a, you know, I added a Keurig, you know, like I went from standard coffee makers to adding. You know, curates in the pods, you know, so little things that kind of make your unit a little bit more, you know, luxurious, I guess.
So that is such a fantastic point, because that's what we say on the show is you don't have to have everything perfect to start your midterm mental journey. All you have to have is a heart for hospitality, uh, you know, an understanding of what you need to get started, which we provide. All the tools you need under on Furnished Finder.
Just go to the Furnished Finder resources tab. You can ask us any questions you want in the comments. We've got a fantastic customer service team, but really you can get started. And then we all kind of tweak our processes along the way and just improve each step of our midterm rental business as we go and make things more efficient.
So for those that are very intrigued, Lara, by this, um, arbitrage conversation. They're thinking, okay, now what's the first steps I need to do to get started? What advice would you give them? Just take the, you know, you don't have to see the whole staircase. Just take the next steps. Just start small, start slow, just start calling.
You'll find places that are going to be open to corporate housing. Um, and I think. Just based on, um, going to BP Con, just this last, um, uh, conference a couple months ago, um, we've had some really catastrophic, um, hurricanes. So people are looking for places to stay. I'm getting, through Furnished Finder, I'm getting a lot of interest from relocation specialists.
People have been displaced. People, they lost their home in the hurricane, floods, fires, whatever the situation is. So there is going to be a need while people are rebuilding their homes. Just get started. I mean, just get started. Um, reach out to me if you want. I'm always willing to mentor people. I've been mentoring people along the way as my cousin has been mentoring.
Find somebody in the space, you know, you can find people on the BiggerPockets forums. Um, you can find me through Furnished Finder as well. Um, but it's just good to find somebody who's doing what you're doing and just take the next steps. It's not as scary as it seems, so just, just give it your best shot.
That's great advice. Great way to wrap up this episode. So, Lara, if anybody wants to connect with you, other than reaching out to, uh, your, to you through Furnished Finder, which is one of the best ways you can do so, because that's one of the main links we put in the show notes, is the link to your Furnished Finder listings.
Is there anywhere else on social media you'd like them to connect with you? Yeah, you can find me on Instagram or Facebook. Um, you can find my website at realestatenurses. com. I've got my units there. You can also reach out to me, um, at noboenterprises at gmail. com. Um, so there's lots of ways you can find me.
So. Yeah, love it. Yeah, always willing to help. Yes. Well, thank you so much for joining us today. Reminder, if you are loving this midterm rental content, we have playlists on YouTube. You can check out all of our arbitrage episodes. Lara mentioned insurance housing. We've got a whole playlist on insurance housing.
If you know, you really are intrigued by travel nurses, we've got a playlist on travel nurses. So just really The best advice is just get started, start adding a property, whether it's a room, an arbitrage, or a property you're own to Furnished Finder. And you'll be amazed at the tenant leads that start coming in and all the different traveler stories of why someone needs a midterm rental.