STR - Airbnb, HomeAway in Ohio

[Aaron David Horton]

I am thinking about doing STR - Airbnb, HomeAway or such with a Cleveland area lakeside "beach access" property...

Anyone doing STR - Airbnb, HomeAway or such in Ohio or more specifically the Cleveland Ohio area?

What has been your experience?

Or your STR experience in general...

Please comment...

[Myka Artis]

Well it depends on what type of property you are looking at. The DFW is a pretty hot market right now with over 700k people projected to move here in 2017 with Facebook and Toyota both moving part of their offices here. You can cash flow $1000/mo or more on a 1bed/1bath corporate rental. I actually haven't done traditional leasing but from the numbers that my realtor gave me you could cash flow about $600/mo on a traditional lease in a 1bed/1bath condo. I was actually unable to get the true return numbers from Airbnb because the HOA on my condo shut down all STR's but I now rent out 2 private bedrooms in my house which usually stay pretty full. By the way if you have extra bedrooms for traveling nurses you would love it. They work odd hours and they're barely home. You should take full advantage of your location and rent out your additional space.