Is Hosting Travel Nurses Post-Pandemic WORTH IT?
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- Опубліковано 8 чер 2024
- In this video, I interview a former student who is a travel medical professional aka travel nurse. I really enjoyed the conversation with him for a variety of different reasons, he discussed some of the topics that I have heard over the last year. Post pandemic. One of them is that travel nurses are no longer needed in hospitals, and the other one is that the stipend pays. The clinicians typically get a lot lower rate than they received during the pandemic.
For anyone looking to build a mid term rental business from Furnished Finder or hosting travel nurses / corporate housing this video will be important for you, as there are so many nuances in the industry that you definitely want to know about.
Is 2023 a year that will still hold relevance if you're looking to get into the mid term rental world / host travel medical professionals or travel nurses? Watching to find out!
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as an ex travel medical professional, i love this midterm rental niche. i am buying five properties in Raleigh to do this. travel nursing is ALWAYS way more lucrative and less political for nurses who want to help people
Thank you for your service! Totally agree with everything you just said !
I'm an RN too, where in Raleigh are you buying? I live in Holly Springs. Thinking about buying in Greenville, for ECU nurses.
Hey my nurses, I have a property for MTR in Northern VA, just wondering who do I reach out to do marketing about it so near by hospital nurses know about it
@@jenniferrobinson163 I have two rentals in Greenville and I can tell you it has defintley slowed down here. Raleigh is more in demand.
We do this in Raleigh as well but we started about a year before the pandemic. My husband is a nurse and he started doing it after talking to a travel nurse at his job. When we met he lived in a 5 br house alone. I remodeled 4 of his bedrooms and it's stayed booked eversince. From time to time we also rent to tech professionals in our Morrisville location. It's a nice side hustle.
Thanks to all the medical professionals.
I hope you all stay in the medical profession.
Your service is appreciated.
I concur ❤️🙏🏽
I love Jesse and his metaphors , In Minute 4 I like how he said " You need to put different basket into your eggs" LOL!!!!..jokes a side I learned so much from you because of you I converted my 4 bedroom ranch home from $2100 LTR to $5400 MTR per month renting to medical professionals.. Awesome Work Jesse.
Haha I think I might be dyslexic 😌- kudos to you. That’s a huge difference!
Love your channel u never fail and always give great value
Hey Aramis! Thanks for watching ✊🏽
Very informative interview! Thanks for sharing!
Hey Tamarra thanks for watching!
Thanks Connor & Jesse great video
Glad you enjoyed it
thank you for the update jesse .
Anytime 🙏🏽
Truly an amazing episode.
Thx Adrian! Glad you got some value from it!
Great content, thank you! I have a side by side duplex 1/1 each unit within walking distance to a 190 bed hospital here in Milford MA. Right now i have tenants in there as LTR. I'll be converting it to a fully furnished MTR when the leases expire!
Oh smart move!!!
That being a smaller hospital, you have to watch. Not all smaller hospitals will need travelers and they have a little bit of an easier time filling there staff needs. If there is more than one hospital near there, then you should be okay
Very informative. I'm building a duplex with 1 bedroom on each side 3 minutes from a medical center.
Adrian, that sounds like the perfect spot!
2023/2024 I am a Traveler in Medical used it prior & after during the pandemic. Most medical folks are staying in a RV/ Van/Car now due to lower pay & less job security after renters failed to lower rates especially in big cities. Also, the folks on Furnished Finders renting are often just not right in the head & just wanna take advantage. Like for example it’s none of your business about my Credit score- I’m not moving into the space as an apartment - we already have our own homes at home- we’re just traveling to work. So these are the reasons many in medical that were seasoned travelers ( not just temp because of COVID rates). Plus when you want a break a day or 2 for luxury you can stay in a hotel with spa/pool/etc ( who will also offer long term stays)
Trust me I know- I’m one of them ( travel Nurse) & Van/RV/ lease space is more affordable living is Best decision ever made!
I’ve definitely seen that! More folks traveling in vehicles. as a landlord, I think it’s important to run credit and background checks on anybody staying on your property. Especially being in California someone can stay for 30 days and all of a sudden become a tenant and squat for years there’s ton of affordable rentals for a individual travel nurse, but they’re also can be folks that are trying to price gauge, when I see that, I know those aren’t professional operators and will not be around in the future. Appreciate what you do for the communities you work in!
@@JesseVasquezAirVenture
I understand your point. I totally support background checks but credit reports, first & last month deposits- nope. 👎🏻. As far as the squatter concerns: just verify proof of RN license & travel contract! Professional Nurses with our valued license aren’t going to stay in town & become a sudden squatter- we’re going home or a new contract.
Also, Most RNs weren’t making 7-10k a week- that was ICU rare exceptions. It was closer to $4-$6k a week gross during the Pandemic & now it’s pre-COVID rates: $2-$4000
Nice interview, I prefer to mix and match between mtr tavel nurse and insurance contracts 👍
Same
He should touch on the complexity of turning a basement into a second unit. How are you going to heat it and meter it for water, full bath, etc. It's not just running water down there and blocking off the basement door. Great idea, but folks need to know it won't be cheap.
Exactly, the other issue here comes with zoning. I'm guessing most of these areas are zoned for single-family use only and would require a conditional use permit or zoning change to make it legal. Can't just rehab a basement and call it done.
Great content! Thank you for the tips! I've not tried this yet, but will be working on my upstairs space over the weekend. It is a large bedroom with small bathroom and a seating area. I live close to a hospital that needs housing options for travelers. Do you recommend starting with air b-n-b first to get some experience, or go straight to listing on furnish finder? Some of the host reviews on furnish finder are a bit negative, and there is a cost to list there up front.
id go straight to furnished finder, but also dont discount listing on airbnb. Starting a new airbnb? Use this link we both earn Cash from it!👇
abnb.me/e/BajxC842fub
Super appreciate you Jesse!
During the busy tourist season I rent out a house as an Airbnb and in the off-season I've been doing the MTR for travel nurses.
I'm curious to know how to tap into the other markets like the insurance markets or anything else that would work for MTR rental?
Hey there, sunshine! Mid-Term Rentals are very common in urban or outskirts of urban markets, potentially even in rural markets, I think it might be difficult to get an insurance case say in Joshua tree or places that are similar to that. I do think you should still be listing on all the platforms, if you’re near any natural disaster areas that is also an area that could potentially bring on clients that category. That being said, I would still always list on all the platforms just in case. Such as a ale solutions, chbo.com.
I would welcome a cost seg video; I hear the cons outweighs the pros so would really appreciate hearing how this benefits you
Hey! Yes im actually going through the process now! Will make a video on this
I agree .yes healthcare workers especially RN make a lot of money but the acuity is rising compared to like 10 or more years ago because of the healthcare system . Before you can get admitted for just a simple diagnosis but now that insurance are tightening up ,they won’t cover hospital admissions like before so now almost all patients admitted are really sick .on top of that there’s increase in micro management esp in charting which takes up a lot of our time .all those stack up that leads to burn out in RNs . So compared to before , bedside nursing is not sustainable so it’s always good to think of investing on the side until you can switch . Also before we don’t have you tube and internet where we can learn a lot for free on our days off
Art this is a super common concern. I’ve heard multiple different times from multiple different clinicians, including physicians.
I am an investor and a traveling respiratory Therapist. I will say the rates for assgments have gone down but they will go back up towards the fall. It happens every year. There is a huge shortage for medical professionals that will keep the contracts up
hey Brian, i totally agree, speaking of RT ive been seeing so many more Traveling RT’s and PTs lately, especially in SF Bay Area! Thank you for sharing your insiders knowledge!
Demand for travel RNs also vary from state tit state ,also demands by hospitals are cyclical or seasonal .there are years where the demand goes up or down but it is never stagnant .it will go back up or down .but health care industry is recession proof
100 percent man
nice to meet you! yeah- cool ~ bye. 💪
👋🏽
In Denver Colorado!
What do you think of the potential here?
Love your vidoes!
I don’t know much about Denver but I do see lots of assignment job postings. Go after the agencies on that business to business level
@@JesseVasquezAirVenture I called a few hospitals and they all said all travel nurses just use furnished finder.
Not have any luck with actual agency’s
This is my end goal too, I am burnt out after covid and management only has made our job more stressful. I cannot work every shift without feeling overworked consistently. - there needs to be a way out. I need to learn more about midterm rentals because where I purchase my first home, has Alot of potential rental but I have done a lot of mistakes already but the learning aspect is priceless. I am reading more financial education books and UA-cam postcast. Where can I purchase your course?
therealjessevasquez.com glad ya found me on here! Follow the plan!
This was insightful. How do you decide what to price your MTR for insurance companies when there are not a lot of comps for that niche.
It’s really difficult as every person has a different policy with different coverage- usually it’s a conversation with the relocation claim folks to uncover allowables
@@JesseVasquezAirVenture thank you. Really impressed you responded, and so quickly.
@@cherylfrancis9368 youre welcome, ill make a video on this topic. It’s definitely a negotiation.
Any opinion on the soldiers, locations around army bases? Thanks
I think there’s a huge opportunity there if you’re able to get a government contract. You can apply for government contract online.
Hi Jesse, my husband and I have been house hacking for almost a year now. Our 3 rooms have been consistently occupied since we began this journey almost a year ago.
We’re now in escrow for a second home but I’m afraid it’s listing price tag is still on the higher end of the market. It’s a 5 bedroom 3 bath on 1 acre, new build. Turnkey on the inside, with lots of upgrades, quartz counters t/o, solar paid, tankless water heater. A lot of room on the property to add an ADU later. Down, closing, and furnishings, and fencing, we’re in it for 50-60k. I’m getting nervous because this home must sustain itself and with the high interest we’ll be barely on the positive by $200-$300, that is if we are consistently occupied. This video title had me nervous. I still don’t know what to think.
Our retirements are within the next 3-4 years. I’m concerned about being in the negative equity and it not being able to sustain itself. Both homes are within 3 - 5 miles of 2 different hospitals and an educational center that hire traveling occupational therapist. Our occupants have told me there are a lot of travelers in both fields, but will that change? Is this a good investment?
Is there a way I can reach you or an associate to talk this through?
Hey there i list with homes that are similar to what you’re saying. I like larger homes i feel theyre better suited for insurance claims or drs relocating, you may want to rent by the room or connect with travel nursing agencies. Business to business is the best way to secure higher income
@@JesseVasquezAirVentureow to connect with local travel nursing agency? Thank you for sharing your knowledge
@@susanseniceros1818 that is an entire strategy in itself, check out my other, UA-cam videos I talk about it I do have a mentorship where I break this down into way more detail it as easy as it sounds
Is there anything I need to check with my city about converting a SFH into multiple units?
Yes most definitely! You’ll need permitting to do this legally.
2008 real estate crash took all my 15 yrs of wealth away, so i went to pharmacy program and invested into healthcare profession last 15 yrs. Disappointed and frustrated with managements and current healthcare system, once again, i decided to walk away from healthcare profession and go back full-time being entrepreneur, especially creative finances real estates and acquisition of businesses. Love to learn new skills, life-skills everyday from every walk of life. Wealth to all who work smarter (not harder). Cheers
Your mindset of building wealth, smarter not harder, is what it absolutely takes to build some things substantial. Kudos to you for continuing to evolve.
I plan to house hack as soon as I get my family home in the next few months; I will buy into your MTR program. You are among the best, if not the best, out there!
Hey Sam! That is awesome. I really appreciate the kind words and I do feel that you would get tremendous value, especially from our community.
I could speak from personal experience. Hospitals are now gearing incentives and retention bonuses while cutting back on Travel Contracts. Travel nurses are no longer seeing the type of pay we saw the last two years. Also I’ve notice a lot of hotels are now offering extended stay rates, which we prefer because we have housekeeping, pools, gym compared to living in someone’s basement. We also benefit from travel points though our credit cards for staying at these hotels. Also, for all the travelers, there is no problem getting a loan, if your lender isn’t comfortable, try using lenders that work with veterans cause they also get paid through stipends.
Hey Jason thanks for your info! What market are you seeing this in?
The nurses who stay in my properties can also pay via their credit card so they still get their points. I also have a home with a private pool. I've checked with all the hotels in my area and their rates are way higher than staying at one of our properties. Usually double the cost even with the hotels discounts.
4 yrs of nursing only, yry my colleagues whi have been in it fir 30 yrs plus. I'm a physical therapist x 33 yr
Four years only looking for his way out
How can I get contracts with agencies as a vendor?
Is is better to contract housing with the MSP or the traveling med pro?
All of them!
How do you find b2b clients for insurance and agencies other than making cold calls?
Connection w hospitals, talking to local carriers
How do you decide how much to charge? I have a 4 bed/2 bath (with a pool) home in the Houston, TX area
I use Airbnb comps and subtract 10%
Great podcast ! How do you weigh renting long term compared to mid term in a higher end market? I own a home in Santa Barbara with a pool about 1 mile from the beach. I could rent it for a about 6,000 a month long term or I could furnish it and rent it mid term. Not sure if I could make more than that doing MTR City is cracking down on STR so many of those luxury properties are transitioning to mid term so I feel like the competition could be tough but I’d much rather have the connection with it mid term instead of someone moving in for years. Wondering if I should just do long term rental. What do you think ?
Hey Suzie, Thank you for reaching out! This is a great question by the way. If you’re able to rent that property for 6K, there’s a good potential for you being able to bring in 8 to 10 K if not even more than that per month. As far as a competition goes, I wouldn’t worry about it especially if you’re going after the midterm rental business, the business connections. I still believe Santa Barbara a great market there are a ton of people that want to be there and I’m assuming there’s probably a couple hospitals as well.
There’s definitely going to be some risk in it, but depending on the type of person you are, that risk could equal a tremendous reward. It all goes back down here as tolerance. I do feel that there will be opportunities for you
Your awesome! Thanks so much for replying to my question. I am an RN too. I live up in NorCal in Redding now and am renovating my childhood home to make it a MTR. Just getting nervous due to the economic changes and the outpouring of money with getting two properties improved without the rental income at the moment. Luckily I’m not mortgaged to the hilt.
Is Tampa Florida a good market to start in? My wife is a RN, we are in the process off moving down there. I would love to start a MTR business in that area. I’m also a real estate agent.
not too sure on Tampa, i do have mentees there doing well
I have a company trying to rent my property for an employee for a year. Do I have the employee fill out an application? It sounds like the company is trying to take full responsibility/accountability for the property/lease, not just guarantee the payment..
That is amazing, that’s exactly what you want. Ask them for a letter of responsibility, as well as a letter of intent.
@@JesseVasquezAirVenture thank you for answering here! Follow up.. so once the company agrees to those documents, would you still have an application filled out by the actual tenant? At that point I’m not really concerned about the tenant paying or damaging the property since the company is responsible/liable and actually signing the lease. so it seems like there isn’t a need for anyone to complete an application? On the actual lease I’d have the tenants sign saying that they intend to follow HOA rules and take care of the property.
Can you please show me how can I find Travel Nurse Agency that will work directly with me?
Check out some of my other videos. I talk about how to directly connect with them
Great video❤ But can someone please help understand something.
👉How realistic is it for a traveling nurse to find a 1 bedroom furnished apartment for $1800 or less in LA county ??? I am asking because I keep seeing nursed posting those types of searches on Furnished Finder
Theyre not going to find something that cheap, but also i dont deal with the nurses directly, i deal with agencies straight to the source. This is more work but pays in dividends if executed correctly
@@JesseVasquezAirVenture ok 👍 i think the same. I just needed a confirmation that I was not wrong in my thinking 🤔 Thanks 🙏🏻 for your reply
Hi jesse im planning to buy a house near md anderson and make it a rental airbnb or hosting travel nurse. Hoping for your advice. Thanks
Hey don’t know much about that area check the demand though!
Are household name insurance companies like all state and farmers a good place to start?
Definitely!
Anyone investing in Atlanta Ga
Been a Travel nurse for 8 years... an RN for 13. The contracts are paying garbage and all these people trying to price gouge us in housing has become completely sickening. I would rather buy a camper. Rates had a 2 year peak and will never be that high again and as a matter of fact are much less than they were pre pandemic and that doesn't factor in inflation. Greed at its finest.
Hey Jane - thanks for what you do for many communities all over the US. I totally hear you on rates dropping dramatically I also would like to further extend my model. I rent directly to companies that pay for clinicians not the travelers themselves.
Hey Jesse how about getting a recruiter's perspective?? I woukd be for a chat
All best
Yes shoot me an email
@@JesseVasquezAirVenture yes I think it would make a very informative content, I sent you the email
Hey Jesse hows your schedule looking like on friday?
How can someone who's a minor, age 17 yo, legally sign a binding contract? I don't understand how a 17 yo can legally own real estate? 😕
I’m pretty sure somebody can if it’s under a trust or some thing. I could be wrong I’m actually having a 17-year-old on my podcast and she has property that she picked up subject to. I’ll ask her.
Why not cater to all operating room staff? Traveling nurses/surgical techs,sterile processing techs all do pretty well
All medical staff! For sure!
I started April 24th. I rent private rooms with private baths to travel nurses in Leland NC. My rental is 13 minutes from Novant New Hanover Regional Medical center in Wilmington NC. My mid term rental is also 20 minutes from the hospital in Bolivia NC. 20 minutes from Brunswick beaches. I am a nurse at novant and currently all my rooms are occupied. However I’m looking to secure a contract with travel agencies. My business is Wonderful Blessings LLC. My business mission is to provide a safe relaxing stay while nurses are on their assignments. I provide a relaxing coastal retreat! 🌺🌴🌊☀️🐚🌱
Kinda like your making things happen already with the space being occupied!
@@JesseVasquezAirVenture yes 2 out of 3 rooms are occupied until September but I am looking to secure a contract deal with a agency. That way I can make sure there is no lapse between tenants.
"Summit"
Such good content, thank you for the information. I love the part where he said about being in real estate is how Donald Trump doesn't pay taxes and the people of CA do not like to talk about that part. So true.
😂 true. I’m trying to jump on that no taxes train! I need to move outta CA
Anyone investing in Charlotte
No. Had a nurse offer me $500 a month for my vacation rental. Told her sorry but I make that in 3 days lol. As much as I wanted to help her
Yah I agree that’s also disrespectful to low ball like that I mean what!
@@JesseVasquezAirVenture lol I know! You’d be hard pressed to find even a bedroom for $500 a month
All these new medical professionals looking for an exit strategy worries me if Im a patient lol it’s too bad people don’t shadow jobs more instead of thinking of paychecks
I hear you, but honestly coming from the healthcare sector a lot of the nurses were treated very unfairly , forced to work the long hours, fired if they didn’t get vaccinated, a lot of them just really got burnt out. They also do you get on the job training while in nursing school I forget the amount of hours that is required on the job actual training. It’s definitely a predicament and we will see how it goes in the future.
@@JesseVasquezAirVenture I agree it’s a problem on both sides man! It’s so hard to find a hospital that has your back. Very few exist
The travel nurses have dried up in our area (Wi)
It happens, maybe the local hospitals are hiring direct with bonuses ? Check in with the HR dept
Sad that Conor is “burned out” after just 4 yrs. Been a nurse for 42 yrs… more than burned out! Haha
He’s totally burnt out, I can’t stress enough how many times I’ve had resident doctors reach out to me saying they’re ready to leave before they even started ha
@@JesseVasquezAirVenture Jesse, what worries me is the growing shortage of nurses. If nurses are burned out after four yrs. We are headed for a world of hurt. I do believe travel nurses will only grow as a group though. Less politics than if staying in one hospital. Love you channel. Sorry I didn’t get signed up for the summit when I had a chance. Loyal fan!
I am going on 20 years… 4 years is nothing haha!
Sorry kiddo! 😂 just saying. Love all your advice ❤ I am a travel nurse / 3 years entering the real estate market as well.
Come on guys.. W2? You know there are many more ways to acquire property without W2. You both sound like rookies!
Thats what you got from the entire interview? Come on Jessssseeeeee
This dude is weak sauce
Ehhhyyyyy
Rude