Skip to content
×
PRO
Pro Members Get Full Access!
Get off the sidelines and take action in real estate investing with BiggerPockets Pro. Our comprehensive suite of tools and resources minimize mistakes, support informed decisions, and propel you to success.
Advanced networking features
Market and Deal Finder tools
Property analysis calculators
Landlord Command Center
$0
TODAY
$69.00/month when billed monthly.
$32.50/month when billed annually.
7 day free trial. Cancel anytime
Already a Pro Member? Sign in here
Pick markets, find deals, analyze and manage properties. Try BiggerPockets PRO.
x
All Forum Categories
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

All Forum Posts by: David De La Torre

David De La Torre has started 9 posts and replied 24 times.

Post: Contractors and Handymen Recommendations

David De La Torre
Pro Member
Posted
  • Investor
  • Posts 24
  • Votes 18

Hello Cleveland Investors and Landlords,

Would anyone have any recommendations for reliable contractors and handymen in the Cleveland, Ohio area? I have a single family investment property that I would like to have worked on whenever an issue were to occur! I hope to meet professionals who are great at communicating and doing an excellent job! 

All help is appreciated, thank you!

Post: Landscaping/Mowing Service Recommendations

David De La Torre
Pro Member
Posted
  • Investor
  • Posts 24
  • Votes 18

Hello Cleveland Investors and Landlords,

What do you think is an affordable price for getting your grass cut monthly by mowing/landscaping services? I have an investment property with a small front yard and average sized backyard. 

I also welcome your recommendations for landscapers in the Cleveland area!

Thank you

Post: Cleveland, OH Utilities

David De La Torre
Pro Member
Posted
  • Investor
  • Posts 24
  • Votes 18

Hello Fellow Investors!

I plan on renting out my investment property in Cleveland, Ohio as a long term rental. I would like the system set up where the tenant pays for the utilities. After speaking with someone who is familiar with this market, I learned that you could have the tenant pay all the utilities except the water, the landlord would have pay for that. 

I wanted to know if this is something that is required all throughout Ohio or if this varies by city or property management company. All information and advice would be greatly appreciated! 

How have you set up your system? 

Post: Short Term Rentals in Cleveland, Ohio

David De La Torre
Pro Member
Posted
  • Investor
  • Posts 24
  • Votes 18
Quote from @Jimmy Lieu:
Quote from @David De La Torre:

Hello All! 

I have an investment property in Cleveland, Ohio that I have considered using as a short term rental compared to having a long-term tenant. The property is located in an area that's close to resources, hospitals, and attractions. I know it's also a niche to invest to those who travel for work.

I wanted to get your thoughts and learn from those who went through this route. How has your experience been investing in this market or with this strategy? 

I also welcome things I should know and mistakes you may be open to share so I can have a better idea of what to expect. 

What short term rental platforms/sites have worked well for you that I should consider posting the property on? Thank you!


Hi David, I recommend checking out Airbnb and AirDNA for comps and competition in the area. Make sure to check local regulations for STRs and that you are compliant. Happy to connect and answer any questions you may have.


 Hi Jimmy, thanks for giving me your advice. I'm now getting a better understanding of the competition and regulations!

Post: Short Term Rentals in Cleveland, Ohio

David De La Torre
Pro Member
Posted
  • Investor
  • Posts 24
  • Votes 18
Quote from @Ryan Arth:

@David De La Torre Also look at AirDNA if you haven't yet. Lots of people think that STR is just instant cashflow, but it is fundamentally a different business model. They are more of a small hospitality company than a long term, tenant occupied, rental would be.

So it really depends heavily on the attractiveness of the area and the competition. STR people don't really care about access to a grocery, MTR will. If the target client is a healthcare worker who makes 100K+ per year and is staying a few months they will want a certain type of area, whereas a person only staying a weekend wants to be near their "event" and is more forgiving on other things. The property may matter more than the area in the latter scenario.


 AirDNA is very helpful for getting an understanding of how my property looks compared to others, thanks for this helpful advice!

Post: Short Term Rentals in Cleveland, Ohio

David De La Torre
Pro Member
Posted
  • Investor
  • Posts 24
  • Votes 18
Quote from @Mya Toohey:

WELL, first check local and city regulations. Make sure that you can use it as an STR/Airbnb/VRBO. Use the STR calculator here on BP to see if it a lucrative market or over saturated and too competitive to make it without using a bigger platform to host it. You can also look at furnished finders and see if Mid Term would be good and you can be consistent with prices and make sure you know how much it will cost to furnish and make sure the investment is worth it.


Hi Mya, thanks for the recommending to look into the regulations. Also, being mindful of furnishing costs is definitely super important!

Post: Short Term Rentals in Cleveland, Ohio

David De La Torre
Pro Member
Posted
  • Investor
  • Posts 24
  • Votes 18
Quote from @Michael Baum:

More specific on the area. Cleveland is a big place and not every area can do OK with a STR.

Go hit up Airbnb and VRBO and search on the area right around your place. How many? How much is their nightly? What does their occupancy look like? How about the amenities?

Start there and it will give you a better idea.

AirBNB and VRBO are the 2 most used. I wouldn't bother with any others.

You might also consider a mid term rental if the area supports it.


 Thanks for the insight on how to analyze my property! Will definitely take these things into consideration!

Post: Short Term Rentals in Cleveland, Ohio

David De La Torre
Pro Member
Posted
  • Investor
  • Posts 24
  • Votes 18

Hello All! 

I have an investment property in Cleveland, Ohio that I have considered using as a short term rental compared to having a long-term tenant. The property is located in an area that's close to resources, hospitals, and attractions. I know it's also a niche to invest to those who travel for work.

I wanted to get your thoughts and learn from those who went through this route. How has your experience been investing in this market or with this strategy? 

I also welcome things I should know and mistakes you may be open to share so I can have a better idea of what to expect. 

What short term rental platforms/sites have worked well for you that I should consider posting the property on? Thank you!

Post: Scaling to Larger Multi-Family Properties

David De La Torre
Pro Member
Posted
  • Investor
  • Posts 24
  • Votes 18

Hello fellow real estate people!

I would like some advice on how you've scaled your real estate business from single family properties to larger multi-family properties. After finishing a single family deal, I learned that I now want to work on deals that are more lucrative. I see myself investing in large multi-family and apartments, with other investors too! I know there are deals out there but I'm aware that they're not always posted on the MLS and aren't as easy to find. Areas I like to invest are in the Northeast side of the country (I currently invest in Cleveland, OH).

I would appreciate any information on how to find these type of properties and how to approach this type of real estate investing, thank you!

Post: Cash Flow or Equity?

David De La Torre
Pro Member
Posted
  • Investor
  • Posts 24
  • Votes 18
Quote from @Nathan Gesner:
Quote from @David De La Torre:

1. Get real clear on your goal. "I want to live off cash flow" isn't a goal, it's a theory or a wish or an idea. "I want to earn $4,000 per month after all expenses" is a goal that you can reverse engineer and work towards.

2. My philosophy is very simple: never sell a property unless you can (a) put the money into something that provides a better return or (b) it moves you closer to your goal.

3. It takes time to build an income you can live off. Many YouTube gurus will sell the idea that it can be done rapidly, but that requires a good market. We do not have a good market. I bought 33 doors and 135 storage units in six years, but the market was ripe and I earned a lot of money to invest. I haven't bought anything since 2022 because the market has changed.

You are 23. Don't try to force wealth. Earn money, save money, invest money. It takes a while to gain traction, then it starts to grow exponentially.


 I appreciate your wise words, thank you Nathan!