All Forum Posts by: Darin O.

I ran into the same issue in Ohio.  I have a property with plenty of equity in it I would like to leverage for my next get...  Anyone know who is offering such products in Ohio?

Hi my name is Darin.  I'm an investor in the Cincinnati Ohio area.  Like many of you, I'm actively building my portfolio.  My partner is in marketing, and often shares real-estate related posts from social media outlets with me (especially TikTok).  Among many of the topics, I'm starting to see noticeable trends in customers discussing AirB&B and similar markets.  The general consensus being, "we feel ripped off, we're going somewhere else". In one example, a resident of a luxury neighborhood shared video of 3 neighboring properties that have been vacant for months, where before they were rented out rather frequently. Certainly, STRs will ebb and flow in tenant occupancy but I have to wonder if the STR market, outside of well defined tourist destinations, could be in trouble. Social media has tremendous power in that it illuminates our pedestrian experiences on the daily, in real-time, and in some cases have detrimental implications towards brands that have been well established like AirB&B. Not in-any-way trying to single AirB&B out... It's just one of the examples in the stack. Despite the criticisms I still want to participate in the STR market. So that's the informative part... Here's the question....

I'm interested in your feedback as to how you mitigate risk when you have STRs that are underperforming?

You spelled property renovations wrong...  Now go back and try again. :)

My financial advisor suggested that I create an LLC before I got started; which I ended up doing. From his perspective, it was just another measure of security one should take so that if you were sued the LLC is targeted... Not you. I'm no expert, and couldn't tell you how things shake out in a scenario where I was actually sued, but as those brave guys who defuse bombs will tell you... "It's not a problem, until it's a problem." haha. Good luck, my dude. :)