Adding Two MTRs Per Quarter - How Coty Mastered the Art of Growth (117)
In this episode of The Landlord Diaries, we sit down with Coty LeBlanc, a real estate dynamo from New Hampshire, who has successfully embraced the hybrid strategy of short-term and mid-term rentals. With 85% of his portfolio dedicated to mid-term rentals (MTRs), Coty shares how he built a thriving business using rental arbitrage and partnerships—many of which started from Craigslist connections! He walks us through his journey of scaling from low credit to managing 17 properties and consistently adding 2 MTR units each quarter.
With 80% of his bookings coming through Furnished Finder, Coty reveals how this platform has been integral to his success. Tune in now for pro tips on designing spaces, optimizing listings, and leveraging the "Worry Free Waiver" product.
If you’re looking to grow your real estate portfolio, transition into full-time real estate, or simply want to understand how to maximize your occupancy, this episode is packed with insights tailored just for you. Don’t miss out!
In this episode we cover:
0:00 Intro- Landlord Diaries Intro
2:15 Are midterm rentals a year around business in New Hampshire?
2:50 One of the hospitals close by has over 80% travel workers
3:10 Tenant type: construction workers in the area for new developments
4:05 Coty’s portfolio of 17 properties- 10 arbitrage, 7 co-host listings
4:30 The Goal: Add 2 MTRs a quarter to keep up with demand
5:00 Over 85% midterm occupancy for his 1-3 bedrooms places
6:05 The path to arbitrage started with Bigger Pockets & a low credit score
7:45 The Lightbulb Moment: $4,200 payout for one month on a $1,000 rent
8:25 The First Craigslist Partnership: A real estate investor w/ over 50 doors
8:40 How do you get a landlord to agree to MTR arbitrage or partnership?
12:45 Should you forgo your w2 & embrace full time real estate professional status?
15:35 Finding partners & making back your initial investment
16:00 Coty’s lightbulb moment started with an eviction notice
17:05 Once Coty had 4 MTRs operational, he borrowed $40k to add 4 more MTRs
18:10 80% of Coty’s bookings come from Furnished Finder
19:00 Quick Design Tips: Plan Ahead For Success
26:50 Guest Communication: Coty’s nine touch points!
31:25 Furnished Finder’s “Worry Free Waiver” is a security deposit alternative
35:05 Furnished Finder headline & main photo best practices
Website Links:
https://www.furnishedfinder.com/
https://www.keycheck.com/
https://www.furnishedfinder.com/stats
https://www.snappr.com/
Check Out Our Furnishing Checklist:
https://www.furnishedfinder.com/blog/...
Coty’s Listings on Furnished Finder:
https://furnishedfinder.com/members/p...
https://opendoorhousing.hospitable.re...
Enjoying our show? We would be honored to receive your 5* review:
https://podcasts.apple.com/us/podcast...
https://open.spotify.com/show/4SvrXhC...
SEO Keywords: mid-term rentals, rental arbitrage, Furnished Finder, real estate investing, travel nurses, short-term rentals, property partnerships, rental design tips, New Hampshire real estate, landlord diaries