All Forum Posts by: Tom Grieshammer

@Anja Schaer

I live in Cleveland. And I understand what you're saying about more costs with a STR. But even considering, I under that there is greater profit to be expected in a STR than a LTR. So, assuming I hire a good property manager, how much more work would I personally need to do? I'm assuming there is some variation in how much assistance from the owner a property manager expects and that the contract must make our expected roles very clear

@Anja Schaer

Ideally I’d like to scale up as fast as I reasonably can for the next 5 years and evaluate my situation then. If it’s going well, lean into real estate and cut back to part time. 

I live in Cleveland so it makes it easier. I’m pretty familiar with all the neighborhoods. I’m brand new to real estate and trying to learn as much as I can. I’m 26 and would like to get to the point where I can retire early but I am a full time teacher and a swim coach so for 9 months of the year I’m too busy to be super hands on.

@Kyle Parks

This is exactly what I was looking for. I think Lakewood is the best market in Cleveland, but I am hearing people tell me to expect rents that seem impossible there. Is there any other advice you could give me? I have been leaning towards short term rental and am looking for a property manager. I’d like to get a deal sooner rather than later because I feel like this is a good time to negotiate prices down.

@Emran Chowdhury

And they do short term rentals too? I know a lot of property managers only do one or the other.

Anyone know a good short term rental property manager for the Cleveland area?

@Robert Ellis

I don’t have the expertise to manage a new build. Any recommendations as to how I could get involved in that?

@Anja Schaer

I was looking at Lakewood because of all the duplexes there and its walkability. It’s also the type of neighborhood I personally would like to live in so if I ever want to use the property one day for my own benefit that might be a perk. Does that seem like a good location.

First time home buyer. I’m looking for a short term rental property in either Lakewood or Cleveland Heights. Anything I should look out for when hiring a property manager?

Anyone know a good neighborhood in Cleveland for short term rentals? My budget is 300,000