All Forum Posts by: Yiwei Cheng

Hi Joe, I'm in Cincinnati, OH! I manage STR and MTR in Cincinnati. It sounds like you're looking for traditional rental management. I can send you a couple of names that I know.

Hi Tarek,

I am in Cincinnati, OH and specialize in STR purchases for Cincinnati. I would say the Midwest area has a lower investment costs than a vacation destination like Gatlinburg or Smokies, beaches, etc. If you have a 500k budget, that is completely enough to buy in a great neighborhood in Cincinnati, Columbus, etc that will do well as a STR or MTR. I will say that having a property manager will help you succeed or if you want to self manage, then hire someone who can coach you set up and get systems running will be key.

 If you are not leaving the furniture, I would recommend long term rental.  A PM would be good since you are out of state and have no experience with tenants previously.  I would recommend getting local referrals or asking around who is good.  Make sure they prioritize the management side and have good contractors they work with.

I would recommend going with a designer with experience in STR. It does make a difference since they would know what to invest more money on vs what just looks good.

There are so many topics and strategies in real estate.  Even if you look under the forum discussions under Real Estate Strategies, there are so many.  You should figure out what you are interested in.  It's a very vague question.

Hi Elvise, since you're targeting traveling healthcare professionals, I would recommend looking on Furnished Finders to do a comparison and see where your property fits & what price point would work.  

 Thanks!

I would also recommend listing on VRBO and Airbnb for monthly stays.  I'm in Cincinnati, and I've been getting some leads through the platforms.  We also partner with local businesses who bring in traveling professionals, like vets, movie crew, artists, athletes etc.  Depending on the size of the house, we are way above $5k per month.  

 Makes sense!  Do you give any referral fees or how are you organically being discovered?

I agree with Andrew!  

Outside of the legal aspect, I would recommend you write out in your own words expectations for you and expectations for your owners.  What are you willing to do as part of the management, what would you do as an additional fee, and what are you not going to do.