All Forum Posts by: Joel Oh

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Joel Oh has started 15 posts and replied 184 times.

Quote from @JD Martin:

Quote from @Joel Oh:

Today is my exact 1 year of STR journey and I finally hit the $75,000 mark for 2023!

It was a long journey but I learned so much.

I invested around $75,000 so I made over 100% cash on cash return.

Next year's goal is $250,000 and quitting my 2 jobs.

No one believed me when I first started it but I am getting there!

If I can do it! Everyone can do it!

Congratulations on your gross income but I'm a little confused. You say you invested $75k so you've made 100% COC return. Are you saying that you purchased and renovated a property for $75k that you then grossed $75k on so far this year?

Haha I think I misunderstood the term COC. Yes, you are correct. I invested around $75k for 2 properties and made $75k this year so far in revenue. One launched in the beginning of summer.

0 Votes

Quote from @Brian G.:

@Joel Oh nice. How much did you net after all your expenses?

I changed my job to real state professional so I can offset all my taxes from Airbnb with second job which is flipping houses. I have $1k mortgage + insurance for this Airbnb. I think my profit is about 50%~60% but I work as the property manager / handyman.

0 Votes

Quote from @Christian Ehlers:

Congrats Joel! Glad to hear you are doing well when the Airbnb space has seen a dip in revenue in some areas. What market are you in? I'm sure everyone wants to know lol

I saw the possibility of declining in the vacation market so went for Metro area near the Airport in the Midwest. It worked!

1 Vote

Today is my exact 1 year of STR journey and I finally hit the $75,000 mark for 2023!

It was a long journey but I learned so much.

I invested around $75,000 so I made over 100% cash on cash return.

Next year's goal is $250,000 and quitting my 2 jobs.

No one believed me when I first started it but I am getting there!

If I can do it! Everyone can do it!

15 Votes