All Forum Posts by: Yiwei Cheng

Hi Shaylynn!  Both are great options!  Why not look for properties in both locations and see which numbers work better?  Lots of deals are property specific, like each property make different $$.  You don't have to limit yourself from the beginning.  Evaluate each deal/property on its own.  There are opportunities in every market.

I would go with the Queen bed and the desk.  If a desk doesn't fit in the room, then maybe you can put the desk in another room.  

There's not too many managers who will specialize in MTR only, but there are managers who will do STR & MTR. Like Allen said, the managers have to understand the differences and be able to market the MTR differently from STR properties.

Yes I would open it up for shorter stays to fill in the gaps between MTR, but not offer shorter stays so far in advance that it blocks your calendar.  Lots of MTR travelers are last minute.

Hello!  I agree that it's harder to manage by the room logistically (roommate dynamics, common area cleaning, etc) but it is allowed.  You can check the ordinances in the city to confirm.  

What makes you want to rent by the room vs the entire place?  That's where I recommend you confirm - can you really make more money renting by the room vs the entire place?  and is that worth the effort?

Awww I was there too but didn't get to meet you!  I'm glad you got so much out of it.  :)

Hi Sarah! I own & manage 27+ STR & MTR. If it's just 1 property as MTR, I wouldn't recommend paying for a pricing software. For my MTRs, I just manually price because they have to book 30 days+ anyway, so there's no reason to change daily rates. You could change your rates monthly like summer vs winter if you want. Basically I just average out the nightly rate to what I want to get every month

Expensive but you get a piece of mind that anything will basically be covered.  

You could give me money & I can give you the same returns too :D :D

but in all seriousness, you can get the same returns in other ways passively too if you're just looking for passive income.  If you want to own real estate assets, then you have to buy and hold the assets.

Summer is our busy season here in Cincinnati!  It'll be interesting to see how our rates compare to last summer