Are there people doing Airbnb in Cleveland?

[Ben Riechmann]

I am sure I wrote that wrong as I am on low coffee and sleep.  Lol!  This is one area I do not know a lot about, so when other investors ask me about it, I send them somewhere else.  Is there anyone in Cleveland doing this?  I would think this would not be a hot spot for this, but it is never wise to assume something like this.

[Dave Stokley]

Originally posted by @Kyle Parks:

Originally posted by @Dave Stokley:

Originally posted by @Ben Riechmann:

How did you get into them Dave and what are the pros and cons in the Cleveland Market.  I always hear about them in other places.  It's nice to hear there are investors doing well with them here as well that I can also direct people in my network to you guys if they are interested, maybe something I should diversify in myself.

I got into STRs by buying a property and throwing it up on Airbnb, realizing it was a ton of work but very profitable, developing systems that use technology to make it easier, and offering my systems as a service to other investors. Pros of Cleveland: affordable property and high demand i.e. way more traffic than you'd expect (tourism is one of Cleveland's largest industries). Cons: Cleveland City Council has taken an anti-STR position for a long time and is currently proposing more restrictions (as are other local municipalities), it's very seasonal, all the houses in Cleveland are 100 years old and thus work/cash-intensive to maintain to STR standards.

PM me if you want to meet up and talk more!

 

 Hey Dave! 

Did you guys recently re-work the 'brew loft'? It dropped off our radar for a few months and came back and looked refreshed. Its interesting how many properties in W Cleveland are mismanaged and underwhelming leaving $ on the table. Seen a few people go half assed and close up shop some months later. My wife and I have a small cohosting company and you guys are on our radar as actual competition. 

How did you get started in cohosting? We had several people approach us after staying in our personally owned rentals. We own 2 and will be managing 11 for others (most are launching within the next month). 

Kyle

 Hey man, thanks! Yeah, I think there are a lot of hosts who either don't know what they're doing or just don't give a damn. We actually fired a client who wasn't willing to maintain their places to our standards.

Outlined how we got started above: basically had a few of our own places and created systems to make it easier for us, and realized we could sell those systems as a service to other investors. We actually just hired a full-time employee, so things are going well!

Let's talk offline about specific units. I'll PM you.