The New Twist to Real Estate Investing Strategy - Rachel Ngom (2024)

Hey hey 🏡

In this episode of the She’s Making an Impact podcast, Rachel sits down with guest and Real Estate Guru- Zeona McIntyre.

They take a dive deep into mid-term rentals, property selection, relationship building, lessons learned, negotiation skills, and making a kick-ass impact in the real estate world. Get ready for some serious knowledge bombs and inspiration! 🎉💣💡

Zeona’s zone of genius is Midterm rentals, Why? She explains to Rachel in 4 simple steps…

1️⃣ Easy breezy management: Unlike those high-maintenance short-term rentals where you’re constantly dealing with turnover and cleaning, medium-term rentals are way more chill. You can snag yourself a tenant for a few months or even up to a year, which means less hassle and more peace of mind. Ain’t nobody got time for daily turnovers and grumpy guests. 🙅‍♀️🧹

2️⃣ Attracting the pros: With medium-term rentals, you’re targeting a more professional crowd. Think about it—travel nurses, digital nomads, and corporate peeps who are on extended business trips. These folks are looking for a cozy home away from home, not just a weekend party pad. Plus, they tend to treat the place like their own, so you can kiss goodbye to those horror stories of wild parties and trashed furniture.

3️⃣ Money, money, money 💰 Medium-term rentals can be a gold mine. Seriously, the returns can be sweet! You can charge higher monthly rates compared to traditional long-term rentals, which means more cash in your pocket. Plus, since you’re not dealing with super short stays, you can minimize those pesky gaps between tenants and keep the money flowing.

4️⃣ Freedom to scale up: Starting small? No worries! With medium-term rentals, you can gradually scale up your game. Begin with a cute little studio or a cozy one-bedroom unit. Once you get the hang of it, you can level up to larger properties like spacious apartments or even dreamy single-family homes. The sky’s the limit, girl! 🌟

It’s all about easier management, attracting professional tenants, making money, and having the flexibility to level up your real estate empire. You’ll be living your best life in no time! 🎉

So, after hearing Zeona’s four steps to success with medium-term rentals, which aspect resonates with you the most? Is it the ease of management, attracting professional tenants, the potential for higher returns, or the freedom to scale up your real estate empire? Share your thoughts!

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Zeona explains to Rachel that it’s super important to remember, each tenant type has their own unique needs and desires. Tailor your marketing approach to speak directly to them, using the right channels and highlighting the features that make your properties irresistible. With the right strategies, you’ll be attracting the right clients like bees to honey! 🍯

She even gave us some killer examples too- you will love these!

1️⃣ Digital Nomads: These wanderlust souls are all about the nomadic lifestyle. They’re remote workers, entrepreneurs, and wanderers who value freedom and flexibility. To attract these tech-savvy individuals, you need to be where they hang out—online, of course! Utilize social media platforms like Instagram and Facebook to showcase your properties with captivating photos. Highlight amenities such as high-speed internet, comfortable workspaces, and trendy locations. Emphasize the “live-work-play” atmosphere and the unique local experiences they can enjoy. You want them scrolling through their feeds, thinking, “This place is a digital nomad’s dream!” 💻

2️⃣ Travel Nurses: These angels in scrubs are constantly on the go, offering their care wherever it’s required. They seek a comfortable haven during their assignments, and you can be their housing savior! Forge connections with local hospitals, nursing associations, and staffing agencies to promote your rental properties. Establish partnerships and provide exclusive discounts or benefits for travel nurses. Showcase amenities such as proximity to healthcare facilities, flexible lease terms, and a relaxing atmosphere for unwinding after demanding shifts. Show them that you understand their unique needs and provide a hassle-free housing solution. They’ll be lining up to rent from you! 🩺

3️⃣ These sharp-suited professionals are all about the business world! They include executives, consultants, and employees on short-term assignments. To attract these corporate powerhouses, you need to speak their language. Position your properties as high-end, fully-furnished corporate housing options. Collaborate with relocation companies, HR departments, and local businesses to form partnerships. Highlight the convenience of a ready-to-go solution, complete with utilities and services. Showcase amenities such as a fitness center, business facilities, or proximity to major corporate hubs. These clients prioritize efficiency and comfort, so make sure you meet their expectations! 💼

Now that you’ve learned about tailoring your marketing approach to different tenant types, how will you apply these strategies to attract your ideal clients?

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Oh, Zeona dropped some serious truth bombs on this topic! She emphasized the importance of playing the long game in real estate and steering clear of that get-rich-quick mindset.

According to Zeona, real estate is not some magical shortcut to overnight riches. It requires patience, persistence, and a long-term approach. You can’t expect to strike gold right away. It’s all about building a solid foundation and steadily growing your portfolio. 🏗️💰

She highlighted the need to resist the temptation of chasing quick profits and instead focus on sustainable, reliable income streams. Zeona believes that real estate is a marathon, not a sprint. So, you gotta buckle up, stay committed, and be in it for the long haul. It’s like nurturing a beautiful garden—you plant the seeds, water them, and watch them grow over time. 🌱

Zeona also mentioned the importance of setting realistic expectations. She warned against getting caught up in flashy success stories and reminded us that every journey is unique. Real estate is full of ups and downs, twists and turns. It’s not always smooth sailing, but with dedication and perseverance, you can weather any storm. ⛈

So, ladies, let’s ditch the get-rich-quick fantasies and remember, slow and steady wins the race! 🐢

Share one step you plan to take to cultivate patience, persistence, and a long-term approach in your investment strategy. Remember, it’s about building a solid foundation and staying committed for the beautiful growth ahead.

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Rachel Finishes by asking Zeona what it means to her to make an Impact, Zeona shares that inspiring others is awesome, but to remember to focus on personal fulfillment, not just fame.

📚 Zeona Recommends reading “Never Split the Difference” by Chris Voss, a negotiation bible.

You can also get her newly launched book “30-Day Stay,” (co-authored with Sarah Weber) which is full of actionable advice and inspiring case studies for women entrepreneurs

You can connect with Zeona at https://www.zeonamcintyre.com/ or via her Instagram.

Action items:

1. Educate yourself: Invest time in expanding your knowledge about real estate investing. Read books, attend seminars or webinars, listen to podcasts, and follow reputable blogs or websites in the industry. Continuously learning about market trends, strategies, and best practices will empower you to make informed decisions and navigate the real estate world effectively.
2. Reflect on your mindset: Take a moment to evaluate your current mindset towards real estate. Are you focused on quick profits or are you willing to play the long game. Acknowledge the importance of patience, persistence, and a long-term approach in your investment strategy.
3. Set realistic expectations: Remind yourself that real estate is not a shortcut to overnight riches. Understand that it requires time and effort to build a solid foundation and steadily grow your portfolio. Avoid getting caught up in flashy success stories and instead embrace the uniqueness of your own journey.
4. Cultivate patience and perseverance: Make a commitment to stay dedicated and be in it for the long haul. Embrace the analogy of nurturing a garden – plant the seeds, water them, and watch them grow over time. Develop the mindset of slow and steady progress, knowing that ups and downs are part of the journey.
5. Focus on sustainable income streams: Shift your focus from chasing quick profits to building sustainable, reliable income streams. Explore different strategies and investment opportunities that align with a long-term approach. Consider diversifying your portfolio and exploring options beyond short-term gains.
6. Seek support and guidance: Surround yourself with a supportive community or seek guidance from experienced professionals. Connect with coaches or mentors who can provide insights and accountability as you navigate the real estate industry. Take advantage of resources and educational opportunities to continue learning and growing in your investment journey.

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