While short-term rentals are often seen as trendy in real estate, creating comfortable corporate mid-term rentals can be equally profitable with the right approach. In this episode of Zen and the Art of Real Estate Investing, Jonathan sits down with Vivian Yip, a public speaker, hospitality coach, mid-term rental entrepreneur, and founder of Corporate Rentals USA by Hestia.
Jonathan and Vivian explore her early experiences in real estate, which were influenced by her parents’ investments. Vivian recounts her first investment, a house hack, and describes her current tenant profile while explaining her departure from Airbnb. She explains her transition from the corporate world to full-time real estate investing, driven by her love for the hospitality aspect of mid-term rentals. Vivian details why she chose mid-term over short-term or long-term rentals, the effort to create successful mid-term rentals, guest screening, and utilizing property management tools. The conversation also covers the scarcity of comfortable corporate housing, the appeal of mid-term rental amenities, and how Vivian ensures her properties meet high standards. Additionally, she explains the different roles of her companies, Hestia and Hestia 360, in achieving her vision of becoming the leading name in mid-term rentals.
Some of the points Jonathan and Vivian cover more in-depth include:
- Vivian wanted more money to create experiences, but she wasn’t making enough in the corporate world to fund them.
- Her love of the hospitality aspect of mid-term rentals makes them a great fit for her.
- Screening guests helps ensure fewer problems with Vivian’s rentals.
- A guest who wants to stay in a Hilton is probably a better fit for Vivian’s properties than one who prefers a Super 8.
Mid-term rentals may not be as flashy as short-term properties, but they offer just as much potential, and Vivian Yip shares her secrets.
If you want to learn more about Zen and the Art of Real Estate Investing Podcast, check out https://zenandtheartofrealestateinvesting.com/podcast/145/.