Welcome back, friends! This week, we’re sitting down with Laura Murphy to explore the growing niche of midterm rentals—specifically, the rent-by-the-room strategy. Laura shares her journey into this unique market, which began unexpectedly at a party, and how she has since built a thriving business managing 15 rooms across three locations in Chicago.

Catering primarily to medical students and traveling professionals, Laura reveals the key to her success: tenant sourcing, setting competitive pricing, and ensuring seamless property management. She explains how eliminating deposits lowers barriers for tenants and how implementing electronic locks enhances security. Maintaining shared spaces requires clear guidelines, schedules, and a focus on creating a harmonious living environment.

Beyond the logistics, Laura discusses the challenges and rewards of midterm rentals, from managing tenant turnover to capitalizing on the high demand in medical districts. As the midterm rental market continues to expand, her insights offer valuable guidance for investors looking to tap into this lucrative strategy.

If you're interested in maximizing rental income while providing quality housing, tune in to this episode to learn from Laura’s experience and expert strategies!

• Resources:
• Simplify how you manage your rentals with TurboTenant
• Connect with Laura on Instagram
• Get your name on The WIIRE Community waitlist
• Leave us a review on Apple Podcasts
• Leave us a review on Spotify
• Join our private Facebook Community
• Connect with us on Instagram

In this week's episode of the podcast, we explore the power of creative financing as a problem-solving tool in real estate investing. We share personal insights from recent deals and discuss the importance of community support, education, and negotiation skills when working with sellers. We also cover practical strategies for structuring creative financing deals, emphasizing the need to understand seller motivations, know your numbers, and stay flexible during negotiations.

Key takeaways include:

• Creative financing is about solving problems, not just structuring deals
• Direct engagement with sellers is crucial for successful negotiations
• Understanding the basics before seeking help will set you up for success
• Community and mentorship can enhance your confidence in creative financing
• Not all creative deals are good deals—know your numbers and establish clear metrics

Tune in to this episode for actionable insights and encouragement to embrace creative financing as a powerful investment strategy!

Other WIIRE episodes we recommend in this episode are…

Episode 33

Episode 34

Episode 35

Episode 36

Episode 37

Episode 38

Episode 123

Episode 124

Episode 125

Episode 126

Episode 127

Episode 128

Episode 129

Thanks for listening, friends!

Resources:

• Simplify how you manage your rentals with TurboTenant
• Learn about our WIIRE Bookkeeper & CPA Services
• Get access to Jenn & Joe Delle Fave’s Creative Finance Playbook
• Get your name on The WIIRE Community waitlist
• Grab your copy of our book, The Self Managing Landlord
• Leave us a review on Apple Podcasts
• Leave us a review on Spotify
• Join our private Facebook Community
• Connect with us on Instagram

In this episode, we’re breaking down the process of buying and selling off-market real estate deals—without a realtor. We also share personal stories, success stories from our WIIRE Community members, plus actionable steps to navigate off-market transactions confidently. Whether you're considering self-managing a purchase or just curious about how off-market deals work, this episode will provide the insights and strategies you need to succeed!

What you’ll learn…

• How to buy and sell properties without a realtor
• Essential components of a strong purchase agreement
• The role of earnest money deposits and disclosures
• Why working with an investor-friendly closing company is crucial
• How community support and expert guidance can simplify transactions

This episode is packed with details you won’t want to miss!

Thanks for tuning in, friends. We’ll catch you in the next episode!

Resources:

• Simplify how you manage your rentals with TurboTenant
• Get your name on The WIIRE Community waitlist
• Leave us a review on Apple Podcasts
• Leave us a review on Spotify
• Join our private Facebook Community
• Connect with us on Instagram