The Landlord Diaries FF112 Transforming Long-Term Rentals into Mid-Term Cash Machines: Darel Ison’s Proven Strategy
In this episode of The Landlord Diaries, we sit down with Darel Ison, a full-time professional who’s built an impressive portfolio of 19 rental properties spread across Ohio, Kansas, and Florida. With 7 duplexes, 1 triplex, and several single-family homes under his belt, Darel has mastered the art of converting long-term rentals into lucrative mid-term rentals.
Starting his journey in 2002, Darel's success isn't just about property accumulation; it's about strategic portfolio management. Discover how he’s transformed 4 of his properties into mid-term rentals, driving 85-90% of his bookings through Furnished Finder. Darel shares actionable insights into maximizing rental income without expanding your portfolio, by tapping into the mid-term rental market.
Key highlights include:
- The strategic shift from LTR to MTR
- Insights on managing out-of-state properties
- Essential tips for property improvements and tenant communication
- Leveraging tools like KeyCheck & Worry Free Waiver
In this episode...
0:00 Intro
2:30 Darel’s W2 & investing goals
3:20 The journey to 19 doors
4:00 Darel’s current focus: portfolio improvements & increasing profit
4:20 Darel caught every Bigger Pockets episode up to 600!
5:20 Struggling with tenants in your LTRs? Consider MTR
7:00 Host Katie Lyon’s investing goals for her kids & family
9:45 The difference in LTR & MTR tenants from Darel's experience
12:15 Not getting bookings? Tune in now.
15:00 Stay active in your Furnished Finder account
17:40 Want marketing feedback? Tag your Furnished Finder listing in the comments
18:15 Moving your first LTR to MTR
21:00 Fill your MTR gaps with STR stays: Darel got his normal rent in 4 nights
26:10 The revenue difference between LTR & MTR
31:35 Working with your contractors as an out of state property owner
35:35 Digital lock tips: which locks to buy, which to avoid, do not disturb feature & how they integrate with your channel manager
39:25 KeyCheck provides peace of mind throughout your MTR booking process
40:10 Travelers & landlords alike trust KeyCheck tenant screenings
42:00 KeyCheck makes splitting payments easy for travelers sharing a home
43:55 Worry Free Waiver: protect yourself & your guests
50:20 3 ways to present Worry Free Waiver to tenants
52:15 A separate pet guideline comes in handy
58:30 Incorporating QR codes & virtual tours into your real estate marketing
1:01:55 Finding strong multi-family deals on market
1:03:35 When your getting out bid over & over, change your strategy
SEO Keywords:
Mid-term rentals, real estate investing, rental properties, Furnished Finder, portfolio management, property conversion, rental income, Bigger Pockets, real estate podcast, tenant management, digital lock tips, multi-family deals, property marketing, out-of-state investing, real estate strategies.
The Landlord Diaries is brought to you by Furnished Finder, where you can list your property for one low price and pay zero booking fees.