Unlocking Midterm Rentals: 5 Keys to Success with Nick Copland

Dylan Silver (00:00.934)
Hey folks, welcome back to another episode of the Real Estate Pros podcast by Investor Fuel, the nation’s premier real estate mastermind. I’m your host, Dylan Silver. And today on the show, have Nick Copland. Nick is the longest standing coach in the midterm rental space with over 500 students coached across the United States. Nick, welcome to the show.

Nick Copland (00:23.234)
Hey, so nice to be here. Thanks for making a spot and squeezing me in. I appreciate that.

Dylan Silver (00:27.876)
Absolutely, man. Before we hopped on here, I was saying I always like to get folks backstory because although our average listener might be doing multiple dears a year, we also have many listeners who are on the outside and trying to get some optimism as to how to get started. So what was the start like for you?

Nick Copland (00:48.398)
Well, for my wife and I, it’s been more than, it’s been around six years ago that we started getting into short-term rentals and stuff like that. It’s kind of funny. Our story is a little bit unique, I think, in that we bought a house. And if you were to look at that house from the street, it looks like a ranch style, but the way the yard sloped down, actually had a walkout basement.

Right? So when you enter in the front door, it just looks like a single story home. But when you’re inside the house, there’s a staircase that goes down and there’s a whole nother living area down there. So once we bought that house, we got an idea and we said, Hey, we can kind of make this into like a makeshift duplex and then we can live upstairs, you know, and rent out the downstairs. So that’s what we did. We, we wanted to update the upstairs kitchen where we were living. So I took a lot of that.

cabinetry and appliances and ultimately put them downstairs in what was like a gigantic utility room. Okay, so I made a utility room. It’s not just the furnace and the the water heater anymore. There’s also now a washer and dryer in there and a full kitchen.

So, and there was already two bedrooms and a bathroom down there and a living room and an area that we made into a dining room. So we turned a single family dwelling home into a duplex, lived upstairs, ran out the bottom. And of course the bottom on doing short-term rental. And then we later converted into midterm rental, is that’s where it’s at. know, forget the regulations of short-term rental and the headache of constant turnover and stuff. Having tenants that are just…

really high caliber individuals that are staying for usually a minimum of a month, but on average it’s somewhere from two to six months. For example, traveling medical professionals, their contracts are always three months long, you know, usually like 89 days to be more specific, more specific if I’m not mistaken, but sometimes they want to get up there a few days earlier or a week and stay an extra few days or a week after because when they’re there,

Dylan Silver (02:36.53)
Yep.

Nick Copland (02:50.658)
They’re working like 12 hours, six, seven days a week. And so when they’re not working, they’re like grab a bite to eat and go to bed, right? So sometimes people who like to be traveling medical professionals, they also like to see where they’re at. So they’ll come early or stay late outside of their contract window. So it could be 90 days plus a week or two weeks.

Dylan Silver (02:52.272)
all the time.

Nick Copland (03:13.354)
And so that’s a really nice book. And these people are already background checked. Obviously they work at hospitals and so a really good example of a midterm rental client.

Dylan Silver (03:22.064)
Nick, when you say all this and for folks who are not in the midterm rental space, it sounds like, well, I haven’t thought about doing this before. Maybe I’m doing fix and flips. Maybe I’m doing short term rentals. But Airbnb is a short term rental space. In my head, I’m thinking it’s gonna be harder to find these nurses. It’s kind of niche. Where can people go to find midterm renters?

Nick Copland (03:43.181)
Mm-hmm.

Nick Copland (03:46.87)
Yeah. mean, a lot of it as it relates to, okay. So when, when I coach people, when they come through my program, I have a list of about 30 different platforms. That’s three zero, 30 different platforms. some of them are a hybrid of short-term and midterm. Some of them are just midterm specific, you know, midterm rentals, you know, some people know it by the name corporate housing. Okay. As well.

And so there are lots of platforms. You can even use Airbnb and VRBO and just change your, change your minimum length of stay, right? And then it only shows it to people who are, when somebody’s on the booking platforms looking, it only shows them to people who are looking for longer than say a 30 day minimum stay, right? So you can even use those platforms and that’s fine as well. But I mean, getting an insurance client, let me give an example of my wife and I’s business.

By the way, we’re located in the greater Portland, Oregon area. And last winter there’s this really nice area called Lake Oswego. Very nice, you know, some bougie folks over there. Hi, anybody watching or listening, but it’s a really nice area and there’s tons of mature trees and this gorgeous lake and, you know, nice bougie shops and everything. Well, last, we don’t normally get snow.

or ice or sleet, know, very much. Of course, we’re right by Mount Hood. They do, of course, and we’re right by the ocean as well. But right here in the greater Portland, Oregon area, it’s not typical. Well, last year, there was an ice storm that came. my gosh, that Lake Oswego area got hit hard and trees, you know, were coming down on people’s houses, ripping power lines out. It was something, something magical in the negative sense, I suppose. But they

there were tons of people that needed housing. And you know, our business had the best year ever last year. A lot of it was because of that. Just to give an example, two of those clients that we had move out of their houses while it was being renovated, two different families were in two of our properties for 11 months, right? And it’s not them paying us, it’s the insurance company. So that’s B2B, that’s business to business. It’s very, you know, good money and these are high client, you know, people.

Nick Copland (06:02.264)
You know, we also get a lot of relocations for like people relocating for job, for work. It could be international. It could be from another state or another city. It doesn’t matter. But you know, we get a lot of job relocations or insurance housing or people traveling for work. There’s a lot of great midterminal clients out there.

Dylan Silver (06:21.458)
To your point, Nick, there’s a lot of concern for people who have short-term rentals that they’re putting their eggs in one basket, right? And I’m in DFW Metroplex, right? So Dallas, Fort Worth, the surrounding area. And I don’t know if this is still the case, but about two years ago, when I was first getting into at the time wholesaling, there was a conference I went to and then Addison, which is a part of the DFW Metro, they had banned

Nick Copland (06:30.026)
Absolutely.

video.

Nick Copland (06:48.044)
Mm-hmm.

Dylan Silver (06:49.988)
Airbnb at the time short term short term right and so for someone who has the midterm rental space you are maneuvering outside of that right and at any point in time you could say when it’s vacant hey I’m gonna convert it to a short term but at the same point in time your main strategy is the midterm and so while the short term I feel like is more maybe

Nick Copland (06:51.822)
Sure. Yep. Yep.

Nick Copland (07:01.281)
Absolutely.

Dylan Silver (07:16.018)
on the internet and everyone’s pushing it it seems like and that’s what people are talking about this is a a topic where you know there’s there’s not as much out there about it and i think uh… more people could and should be capitalizing on

Nick Copland (07:28.962)
my gosh, 100%. I mean, if you, know, with the experience that you have, and I’m sure a lot of people listening or watching this as well, a lot of people heard about regulations as it relates to short-term rental. So like anything less than 30 days is banned in a lot of cities. Sometimes it’s a county thing as well. And obviously there’s no regulations around, you know, 30 days or more. And sometimes people will buy or rent a home

in a nice neighborhood and typically nice neighborhoods are HOA, homeowners association. So let’s say your city or your county doesn’t have a regulation specific for short-term rental, but maybe you rent or buy a house in a…

HOA homeowners association and in their bylaws and their CCRs they have that written in there and I’ve I have coached and heard a lot of stories of people who buy a rent a house they do all the the air DNA they do all the research to make sure it’s going to be profitable and right location and stuff and they just there’s a lot of things that can easily be overlooked as it relates to somebody’s success in midterm or in short term but you know

Dylan Silver (08:37.478)
Yeah, for sure. when I’m thinking about that and I’m thinking, you know, I don’t have any deeds in my name or in a company that I owns name. So I’m in the beginning phases. I actually just got my real estate license. So I didn’t get the license. I passed the test on Monday. So I’m grateful that that’s over. But when I think about my future, I’m thinking about, well, do I want to go fix and flip? Do I want to go short term? Do I really don’t know? Right. And then for many people, when you’re looking at these options,

It’s almost like, what would you say, overwhelmed? It would be like, well, which path do I go down? But with midterm, you get a lot of the benefits of short term in the sense where you’re not having someone stay for super long periods of time. They also typically have, like you alluded to, they’re in a demographic where they’re well paid, so you’re probably less likely to deal with a squatter situation than you would in a long term, you know, year to year lease. And on top of that, because

you’re dealing with corporate professionals, right? Nurses, folks who really need a place to stay temporarily. The odds are that they’re going to maintain the place better in many cases than a long-term runner would, which as we know can sometimes destroy the place.

Nick Copland (09:52.76)
Yeah, I want to talk about squatters for a minute because what has happened across the United States, like somebody, somebody will book a place on Airbnb for one or two nights and then they’ll just stay, right? And, but that makes sense because that person who would choose to do something like that, they’re only having to pay for one or two nights to then become a squatter. You know, a lot of people can do that.

Now, compare that to what mid-terminals do. We have a minimum length of stay of 30 days. How much do you think a 30 day stay is compared to a one or two day stay? So somebody who is financially capable of paying upfront for a 30 day stay, not in a long-term, but in a short-term or mid-term situation, statistically that person’s not going to be your squatter. I mean, come on, you know.

Dylan Silver (10:46.812)
Yeah, statistically, 100%.

Nick Copland (10:49.888)
And so it’s just the clientele is a lot higher. I’ve heard a lot of concerns around squatting in what I do and coaching people. But when you transition to the midterm rental, as we’ve mentioned a couple of times already, the caliber of the clients are really high and you don’t have the same types of risks. mean, think about short-term bachelor party, bachelorette party,

Dylan Silver (11:00.146)
Yeah.

Nick Copland (11:18.238)
There are so many short little things that can, know, little things going on and somebody rents a place and throws a party in the house and you got neighbors complaining, you got damage, you have this and that. this is a story I love to tell. Doing this for more than six years, having hosted hundreds of people across all of our properties. By the way, we either own or arbitrage, and we can talk about arbitrage in a minute. We either own or arbitrage all of our properties, right? And…

And we’ve had hundreds of bookings over the course of six plus years. And the worst thing that’s ever happened, and get this, there was a desk chair, right? We had a workspace in one of our houses. And this was a great couple and they were traveling with two pets and they came from somewhere on the East coast and they came over and he had a job that allowed him to work remote and then she was a traveling nurse. Okay, so was a married couple.

older than me and he reaches out to me one day and he says, hey, it looks like I’ve caused some damage to the chair. I don’t know if it’s from Amazon or Wayfair or wherever you got it from. I’d like to replace it. And I was like, oh yeah, wow, thank you so much. Why don’t you shoot me a picture and let me look at that. And it was like one of those, not a leather chair, but not plastic. like to say pleather, half leather, half plastic. And it’s like, you go up and down on that thing enough times it starts to…

Dylan Silver (12:39.761)
Yeah.

Nick Copland (12:44.858)
over time, it starts to chip away and just kind of fall off. That’s all it was. That was the damage he was talking about. And he so badly wanted to replace it. mean, just come, just think about the caliber of the people that we’re dealing with here. It’s like, you know, he just up and replaced the chair for something that was normal wear and tear. That’s the worst thing that we’ve had. It’s just crazy, you know? So.

Dylan Silver (12:45.03)
Right. Yeah.

Dylan Silver (13:02.652)
That’s tremendous.

When we’re talking about midterm versus short term, when we’re talking about going about this process and being new to it, I think, and without giving away all the game here, Nick, because of course I understand being a coach, this is really the intel that other people don’t have that you have, But I’m thinking if there is these professionals, nurses, so on and so forth, business people,

Nick Copland (13:26.529)
Absolutely.

Dylan Silver (13:36.048)
What percentage of the time are you getting the rent from that person themselves versus their company is assisting and relocating and the company may actually be the ones who are interfacing with you versus the renter themselves?

Nick Copland (13:44.373)
yeah.

Nick Copland (13:52.61)
Yep. No, and that’s one of the amazing things about midterm versus short term slash a vacation model, you know, is that the majority of what we’re doing is working with companies, right? So your money is very safe. Even if there was damage, that company has a reputation on the line, you know, and so you can reach out to whoever HR or whatever at that company and say, Hey, while so-and-so was staying here, this happened here, some photos.

My photos have a timestamp showing the day I took the photo to show that it happened either while they were there or right after they checked out when we did a walkthrough inspection.

You know, so that is a great piece of mind that somebody has. There’s just a huge difference of working with an individual or working with a company. A company has multiple streams of income to make their company successful. An individual, you know, if it’s a married couple or a couple, maybe there’s two incomes. But there’s also many people that only one person works, even though they’re a couple. And what happens when one of them, you know, loses

their job or both of them, or something like that. There’s just statistically, I love statistics as far as like making good business decisions and poor ones or low risk and high risk decisions.

Dylan Silver (15:13.798)
asset management,

Nick Copland (15:15.104)
man, know, it’s that famous thing, working smarter, you know, not harder. And I think midterm rentals is working smarter and short-term rentals is working harder. Now don’t get me wrong. Like if I have a six month booking here and then I get an option for a two month booking here and I go ahead and take it and then there’s less than 30 days in between there, I’ll squeeze in some short-terms, right? But.

Dylan Silver (15:20.122)
Absolutely.

Nick Copland (15:40.942)
I have systems in place that I train the people that I coach on how to accept safe situations and what type of questions to ask to avoid them and things like that. so, yeah, mean, I do a midterm rental or corporate housing model with the occasional short term to fill in the gaps.

Dylan Silver (16:02.13)
So when you’re dealing with, let’s just say a hospital, right? I’m thinking nurses, because right now, especially the last five years, it seems like nursing is one of the best professions for young people, college grads to get into. And you’re looking at the salaries for everybody in the medical profession, but you’re also looking at the demand specifically for nurses. And then of course, there’s different types of nurses. There’s the nurses that can prescribe and so on and so forth. I’m not in that field, so I don’t know all the terminology, but I do know that

The demand is so high that I could potentially see people in the midterm space developing a relationship that extends beyond one stay, right? So you have one stay, that person leaves for whatever reason, and then another person comes in. Do you see a lot of that kind of the repeat business from the same corporations that are fulfilling the stays at these midterm rentals?

Nick Copland (16:56.012)
Yeah, think about it. if a hospital, like if somebody’s working at a hospital as a traveling nurse or even a medical professional and they stay at your place.

and they have a good experience. The home is comfortable, the location, you as a host, you’re available to them and professional and communicate well. When their time period is coming to an end, number one, they often extend. So they do another 90 days sometimes. And that’s how you get a lot of six month bookings with the same people that you’re already comfortable with. Also, they sometimes have the kind of the old school pushpin boards, whatever, in the break room at the hospital.

can leave notes for people, other traveling medical professionals coming in to say, Hey, check out this place. And you, know, you can provide them with that information to print out and stick up there for you, which is going to help you and then allow them to kind of give a review of you almost by, leaving that there for other people coming in. But then just the HR at that hospital, knowing that you stayed there and you know, had a great experience. Why would they not recommend to other

know, medical professionals coming in to work at their hospital.

Dylan Silver (18:07.73)
Housing is very hard to fulfill and so having that connection to someone who has a midterm rental, if I’m in charge of a hospital, like either you’re putting them up in a hotel, right, which can be very, very expensive or not the right conditions, you’re putting them in an Airbnb, you know, that can be tricky because if it’s booked, it’s booked, right? And so having folks like yourself,

is an excellent resource and I think for a lot of folks may not even realize that they can do that and they may be thinking well how do I develop a relationship with a hospital right but that’s why they that’s why they reach out to you. Pivoting a bit here Nick going from doing it yourself right midterm rental to then scaling to 500 students right. Guide us through that.

Nick Copland (18:56.748)
Yeah, well, if I go all the way back to when that transition in my own life happened, it was like I had been doing short term. I learned about midterm, started doing midterm. And then I said, what else is out there? I started doing research and checking things out. And I actually, I paid to join a mastermind. I paid to join a program that had actually just launched. I didn’t know that it had just launched at the time. Here’s the really funny thing.

As soon as I paid the same amount as everybody else to come into that program, I was the one answering all the stinking questions because I already had some experience, right? And so about two weeks in, I contacted the owner of the company and I said, hey, I had a lot of knowledge coming into this and I paid the same amount as everybody else. anyways, the long and the short of what happened in that.

conversation when I reached out, he said, you know, would you be interested in me hiring you to coach? So I coached for that company for, you know, over two years. And so that’s a lot of my experience before my wife and I launched MTR authority, MTR, you know, midterm rental authority.

you know, and that’s our business now, but over the last three years of my coaching experience, you know, that’s how I got into it. And that’s what has opened up the doors for me to help so many people from east to west, from north to south, even a few Canadians as well. But really that’s how it happened. That’s how I got into it.

Dylan Silver (20:38.278)
Nick, when you talk about that, and I say this on nearly every other podcast, if not all, most of the podcasts, right, is that you never know when these strategic relationships can be fruitful, right? So not having your eggs in one basket, because sometimes the basket doesn’t bear any eggs, right? But at the same point in time, you you went into this thinking, here I am paying for a mastermind, then you became the mastermind, right?

And then now here you are today, you 500 students plus and counting and probably didn’t even envision that when you went to go initially sign up for the mastermind.

Nick Copland (21:19.022)
Absolutely not. No, yeah, I was just going in to be a sponge and just absorb all of the information and knowledge, turn it around and apply it to my wife and I’s companies, you know? And, yeah, I had…

It’s networking, you know, it’s just doors open and doors closed in life and here we are, you know. But I have absolutely no regrets. It’s been wonderful helping people across the country learn to do midterm rentals and corporate housing and arbitrage in particular and to help them do things they never realized they could do themselves.

Dylan Silver (21:51.762)
When I think about arbitrage, by the way, I personally love arbitrage. have two kind of, well, I’d say three personal catchphrases. One is asset management, asset management. I’m thinking about, you know, is there an ROI on this sushi dinner or am I spending $125 because it looks cool, right? And you know, that’s just where I’m at. One day maybe I want to think about it like that. But another saying I have is being a networking junkie or gorilla networking, fanatical networking.

Nick Copland (22:14.221)
Yeah.

Dylan Silver (22:21.394)
But when I think about these things, I also think about positioning it in a way where it makes sense, not just for me, but for my future. Right. And so you have these people who are not necessarily aware of where to start. Right. So they’re reaching out to you and they’re saying, well, what do I do to get in touch with the hospitals to start to start. Right. And

Maybe they’re gung-ho, they wanna do something right now. How many of these people, A, can start immediately and what’s kind of the build-up phase? Because there’s this temptation to make money fast, right? But in actuality, you gotta find the property, you gotta restore it, you gotta make the connections with the hospital, so on and so forth. So reasonably, for someone getting started without giving away all the game, what’s kind of like the launch phase for someone who wants to get in the midterm rental space?

Nick Copland (23:18.048)
I have coached the vast majority of people I’ve coached will get their first property in the first month of me coaching them. That’s the majority. I have coached two people in particular, and I have testimonials on our website of the actual people, you know, that two of them got five properties in their first month. Now, that is not normal, okay? One in the first month or two is totally normal, totally doable, you know, but it is…

Dylan Silver (23:24.614)
Wow.

Nick Copland (23:47.256)
We are a white glove, silver platter coaching program. You don’t have to have any background knowledge in anything related to real estate. I start coaching you from where you are. And if where you are is at zero, I don’t know if there’s such thing as negative zero, but I have coached people that know nothing and led them to success. Absolutely. Right? It’s just understanding, it’s being comfortable. It’s…

being coachable and able to move your money in a way by listening to somebody who’s been there and has tested it over multiple years, has coached multiple tons of people, right? And just kind of letting loose, being coachable and letting loose. it is, when somebody first comes into our program,

One of the first things we do is talk about, make sure they’re under the same expectations. Why are they even wanting to do this? What is their point? What are they hoping to achieve? So that helps them understand why they are coming to us to be coached to achieve. Because we know how to do it, we know how to teach them and the whys and all this stuff. But I need to know, what is that person’s why?

for generational wealth for not only them, but their children, their grandchildren, and so on and so forth. For me, that’s a lot of what it is, right? And then for me, it’s also quality of life and lifestyle. Like a couple of years ago, we took three cruises in one year. Cruising is something that we love to do. I have a background. I used to be a host for Carnival Cruise Line after high school for a couple of years, but my wife…

Dylan Silver (25:35.282)
I’m surprised you didn’t get a bad taste in your mouth after being on the cruise show.

Nick Copland (25:38.302)
my god, no, no, I love it. I love it. You my wife and I, I’ll say that Sparks flew on a cruise that we were on. And so maybe that’s why we’ve been married for 17 years now and have two beautiful daughters. I already knew her. We were traveling in a large group. And so we kind of are all traveling together. But just during that cruise is really where Sparks flew, you know, it’s a very romantic environment cruising, right? So I highly recommend it.

Dylan Silver (25:50.236)
Did you meet her on a cruise? huh.

Dylan Silver (26:06.694)
Where was that cruise? Where was it? What kind of a cruise was it? Where was it to?

Nick Copland (26:09.898)
Caribbean. Yeah. Always Carnival Cruise Line. I’ve done tons of cruises because I was an employee for two years, but even on my own, I mean, we’ve done almost 15 cruises. Always with Carnival Cruise Line. Yeah. So plug for Carnival.

Dylan Silver (26:18.66)
Okay. Okay, so as a Caribbean, do you remember where you stopped in the Caribbean? Like which weather stops?

Nick Copland (26:24.974)
Oh my god. The cruise that I did with my wife Shannon at that time, could not. I mean, definitely Caribbean. East, west, south, I don’t remember. It’s been 18, 19 years. Oh my god.

Dylan Silver (26:31.856)
Yeah, right. I haven’t done a Caribbean cruise, but I’ve been to the Dominican Republic quite a few times. I love going there. And I speak Spanish now simply because I have no other option. I go to Santo Domingo or Santo Domingo Este. And I always wonder because I’m like, I see these cruises that go to the Caribbean. Are they stopping in each individual country? I genuinely don’t know how it works.

Nick Copland (26:47.544)
Yeah.

Nick Copland (26:54.882)
Yeah. yeah. Just, yeah, just get on, get on and do some research. Yeah. You would love it. I recommend to everybody, but anyways, you know, yeah. I mean, let’s, let’s talk for a second about arbitrage. I think a lot of people may not even know what it is, right? Because a lot of, a lot of people there, they, they love the idea of getting into real estate. mean, what are the most millionaires, most millionaires that exist out there are

Dylan Silver (27:02.642)
We digress, we digress.

Yeah.

That’s right. Yeah, that’s what I wanted to talk about, right?

Nick Copland (27:23.488)
in the real estate space. They’re doing something multifamily, know, fix and flip. There’s so many different areas, short term, midterm, long term. There’s so many areas of real estate and most millionaires and billionaires that exist out there have got real estate in their umbrella of income sources. Absolutely. You know, it’s an ax rate off.

Dylan Silver (27:42.866)
Nick, when I hear arbitrage, think taking like the water bottle in Yankee Stadium principle. You have the water bottle, it’s worth $1.50 at 7-Eleven, but I put it in Yankee Stadium, it’s worth $1.50. It’s the difference in value based on markets. Am I on to it or am I completely off?

Nick Copland (27:59.552)
No, and sometimes people ask me, well, why would somebody pay that much more money for a midterm rental? Well, here’s some of the reasons why. They are in a situation where they need a place to live and they either don’t have furniture or their furniture is waiting to go into their permanent home, like in a relocation situation. So they need a place that’s fully furnished. They need to stay in a place for less than 12 months. You go on Zillow and you look around, every single contract is 12 months or longer.

Right? And then because they’re there for a shorter amount of time, months instead of years, they don’t want to put the utilities in their name and set up the internet and the trash and the recycling and all that stuff. So really for those three reasons, length of stay, they can’t sign a long contract, don’t want to put the utilities in their name since they’re there for a short amount of time. And then because they’re there for a short amount of time, they either don’t have furniture or they don’t want to move their furniture in. So they need somewhere that’s fully furnished.

Right? And a lot of times it’s businesses paying for these people to stay in these monthly accommodations. So that explains why you can charge more. Right? But arbitrage, for those who don’t know, like a lot of people think in order to get into real estate, you have to save up a deposit to put down 10 or 20 % on a house.

to get into real estate. Well, that’s the beauty of arbitrage, right? Now, don’t get me wrong. My portfolio is a mixture of arbitrage and owned properties. But for somebody getting in, you get a few arbitrages under your belt, the amount of cash flow that’s coming in from one, two, three, four, five properties, you’ll save all that deposit with those cash flows so quickly. And then now you’re in the game of what you thought.

you were getting into, right? You’re now buying your first property and then you continue with your arbitrage and you’re buying another property and so on and so forth. One thing that I recommend to people is if you’re flexible, we’ve been buying a house every year. So people ask me why I do that is because legally when I move into that house and I make it my primary residence, after 12 months, I can move out and it’s now investment property.

Nick Copland (30:16.034)
but I only had to pay 3.5 or 5 % down for the down payment of the house. Where normally, if I’m gonna stay in my single family dwelling, if I’m gonna stay in my home, my primary residence, and then I want to add another house, that is investment property. So you’re usually putting a minimum of 20 % down.

Dylan Silver (30:38.268)
Yeah, it’s a totally different, totally different game.

Nick Copland (30:39.47)
Yeah, so a $500,000 house 20 % down, that’s a big chunk of change. But if you change that 20 % down to 3.5 or 5%, that’s a lot more attainable by a lot of people. You know, that’s a huge tens and tens of thousands of dollars difference.

Dylan Silver (30:43.41)
100 grand. Yeah.

Dylan Silver (30:51.324)
for sure. This is a

This is one of these things where, I don’t think as for me personally, selfishly, was not aware that there was coaching even out there in the midterm rental space. You know, I really felt like was an afterthought for me because I had the false assumption that, it’s gonna be impossible for someone like me starting out to build these relationships in the midterm rental space. I’m sure they already have, but you know, what I’m learning right now is that you really

with the influx of nurses and all these professionals, there’s really almost never gonna be enough in the foreseeable future midterm rental space. And how do you get that coaching? Well, you go to Nick. So we are coming up on time here, Nick. How can folks get a hold of you?

Nick Copland (31:39.138)
Well, I you go to MTR, which stands for midterm rental and go to mtrauthority.com. And if you want to look up, now my wife and I run this company together. Her name is Shannon. And if you want to, you know, go to check out our social media or anything, Coach Nick and Shannon, you know, so you can look up Coach Nick and Shannon, but I do have to say you got to spell.

Her name correctly or you’re not gonna get there. Shannon normally is spelled S-H-A-N-N-O-N, but she’s A-N. So it’s kind of like Shannon, know, Shan-An instead of Shan-On is what she says. Yeah. Something interesting about Shannon, my wife, is she’s also a musician and a singer.

Dylan Silver (32:13.65)
Shannon, Shannon.

Nick Copland (32:20.628)
And so you can go to ShannonCopland.com or look up Shannon Copland Music. So just a little plug for her. After 17 years of marriage, I’m more than happy to tell people about my wife. Absolutely. But I hope if, for people listening to this, what I hope people walk away with is kind of like an open mind and really like, wow, I didn’t realize, a lot of people don’t know the term arbitrage yet.

If you want to rent a $3,000 house, and I don’t know where people live across the United States, it may be a $2,000 house, but let’s say a three or four bedroom house with a couple of bathrooms, that’s usually between $2,000 and $3,000 on average, depending on where you live in the country. then instead of buying that house and putting down tens of thousands of dollars, you’re only putting down a security deposit, which is normally equal to one month of rent. So you’re only putting down $2,000 or $3,000.

So you’re gonna spend, let’s say worst case scenario for the average person, $3,000 in your first month rent, here’s the keys. Go start making money versus, know, depending on where you live, that four to $600,000 house kind of average in the United States. Exactly. Yeah. So, I mean, it’s like, my gosh, this is suddenly attainable for tons and tons of people.

Dylan Silver (33:37.33)
You gotta put up a hundred grand if it’s not your primary.

Dylan Silver (33:48.186)
Everybody needs to be looking into this Nick. We are coming up on time here. I think we could probably have a whole nother two podcasts fill up an hour worth of time with me just diving in here to the questions that you teach in your coaching program. But yeah folks reach out to Nick. And if you want to learn about the midterm rental space and you thought it was previously unattainable well now you’ve got your trusted resource with years of experience 500 plus students in Nick Copeland.

Nick Copland (33:56.984)
Let’s go!

Dylan Silver (34:17.229)
Thank you for coming on the show today.

Nick Copland (34:19.574)
My pleasure. Thanks for having me.

Dylan Silver (34:21.307)
Absolutely.