The Landlord Diaries
$100K from 15 Insurance Stays in 30 Days: The Midterm Rental Blueprint w/ KP Akom (FF125)
Dec 9, 2024
KP Akom, CEO of Streamlined Stay Solutions and U.S. Army veteran, shares his journey in transforming midterm rentals into a lucrative business. He reveals how he filled 100 FEMA housing requests during Hurricane Helene and utilizes Furnished Finder to secure high-value contracts. KP discusses innovative market testing methods, creative financing strategies like subject-to deals, and the importance of community support during crises. His expertise shines through as he manages over 40 properties while navigating the complexities of the rental landscape.
50:06
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Quick takeaways
- KP Akom emphasizes the financial potential of midterm rentals by illustrating how working with insurance companies can dramatically increase gross income.
- The podcast highlights the importance of creative financing strategies and market testing, allowing landlords to effectively assess demand before making financial commitments.
Deep dives
Profit Discrepancy in Housing Types
The episode highlights a significant difference in revenue generated from midterm rentals for various tenant types. For instance, housing approximately 15 insurance families led to over $100,000 in gross income, while accommodating 46 veterans amounted to about $47,000 within the same timeframe. This indicates not only the financial potential of working with insurance companies but also showcases the varying profitability across different rental demographics. Understanding this disparity can help landlords tailor their strategies to maximize income depending on their target audience.
