Cash-flowing Medium-Term Rental Near Downtown Cincinnati

[Jennifer Dyer]

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $135,000
Cash invested: $32,000

Medium-term rental within walking distance of DT Cincinnati and stadiums. Fully booked with traveling healthcare workers

What made you interested in investing in this type of deal?

My STR in a nearby city was always booked, so I expanded. The city enacted STR restrictions after I had furnished it, so I pivoted to medium-term rental. It has worked out really well and is easier to manage. I may move into this strategy more deeply.

How did you find this deal and how did you negotiate it?

MLS - the area is gentrifying due to proximity to Bengals and Reds stadiums

How did you finance this deal?

30-year fixed hard money loan

How did you add value to the deal?

Cleaned it up and furnished it for AirBnb - cheap and cheerful. Less than $5k in furnishings.

What was the outcome?

Great property, booked solid, nice cash flow

Lessons learned? Challenges?

Keep an eye on upcoming city restrictions. Medium-term rentals are work exploring more.

Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

Yes - Lena Keith at Pivot Realty in Ft. Wright, KY