Hey, I will be a first time home owner soon and I want to cashflow it as soon as possible. What are some blindspots that I should look out for?
House : 3 bdrm, 1.5 bath, 1,200 sq feet., half finished basement in a nice neighborhood of Cleveland Heights, OH. Value: $110K. It needs a new kitchen and the bathrooms will need updates, mostly cosmetic.
The house is from my step mother and she used to rent it out for years but doesn't want to deal with it. My dad and I want to keep the house in the family and eventually airbnb the space. I'm currently an Airbnb host in NYC for 8 years, and the house isn't ready for that yet. I think it can be ready for a long term rental sooner than later. I'm familiar with BRRRR strategy and I would love to put it into practice.
Does anyone have any insight on the best way to clear the runway to get things moving?
