The Secrets to Starting a Rental Business Without Buying Property

Can you scale a rental portfolio without buying a single property? Yes—and today’s guests are living proof. Join us on The Landlord Diaries as we sit down with power couple Nate & Katie Lyon to unpack their rental arbitrage strategy for monthly midterm rentals. Katie Lyon, Marketing Director at Furnished Finder, brings over a decade of real estate and marketing experience to the conversation, while Nate adds an extensive background in marketing, operations and design. Together, they’ve built a 14-door portfolio mainly through out-of-state arbitrage in Iowa—leveraging Furnished Finder as the foundation for growth.

You’ll learn why arbitrage works especially well for 30+ day furnished rentals, how to approach arbitrage partners, run the numbers, structure leases, and find quality tenants like travel nurses, relocating families, and corporate professionals. Whether you’re new to investing or looking to expand, this episode is your step-by-step guide to midterm rental arbitrage.

👉 List your property on Furnished Finder:
https://www.furnishedfinder.com/list-your-property 
(Use code LLD10 for $10 off new listings)

👉 Explore MTR tools and resources:
https://www.furnishedfinder.com/Resources/PMResources

👉 View Nate & Katie Lyon’s properties:
https://www.furnishedfinder.com/members/profile?u=katie.lyon8

👉 Furnishing your MTR with Minoan:
https://youtu.be/mc5IFRErgCk?feature=shared

📝 Free MTR Furnishing Checklist:
https://assets.ctfassets.net/8rvbu1uw8lem/4pKVOxeFmg0umMHL2vclew/0cfaabe735029d6f5181bb20cdf26aa6/Monthly_Rental_Essentials_Checklist_-Minoan-Furnished_Finder-.pdf

⏱️ Episode Timestamps:

0:00 Welcome to The Landlord Diaries
3:25 Why arbitrage + midterm rentals = perfect partnership
4:30 The Lyons’ first arbitrage deal (and why they started in Iowa)
5:25 The 3 key players in MTR arbitrage
6:55 Arbitrage vs. ownership: Pros, cons & cash flow differences
10:00 Why MTR arbitrage over STR arbitrage for property managers
12:35 Securing your first arbitrage partnership and tenant placement
14:05 The groundwork: Setting up your arbitrage business
16:15 Market research tips: Traveler types, pricing, and Furnished Finder market data
22:35 How to find and pitch your first arbitrage partner
29:10 Pro tip: How to make a confident first call to the property manager
32:10 Structuring tenant leases in arbitrage units
35:55 Why midterm travelers are the ideal tenant type
38:10 Marketing your listing like a pro (headline, calendar, pricing)
47:50 Why every arbitrage unit should be listed on Furnished Finder
51:05 Lessons learned & scaling tips from arbitrage experts
52:30 3 easy steps to start your MTR arbitrage journey today

🎯 Whether you’re a cash-strapped beginner or a scaling investor, this episode gives you a real-world playbook to succeed in the monthly rental space—without buying a property.

🔔 Subscribe for more landlord stories and strategies, only on The Landlord Diaries, powered by Furnished Finder.

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.