Seeking advice on starting an Airbnb

Short-Term & Vacation Rental Discussions
3yFollow

Seeking advice on starting an Airbnb

Michael A.
Financial Advisor · Member since 2022 · 67 posts · 67 votes

I currently own one rental property (duplex). I plan to buy another rental property by the end of this year around $150k price range. I’ve been thinking about trying the Airbnb route. My current duplex is a normal tenant occupied rental. 

I’m wondering what the best markets to invest in for Airbnb. I’ve been looking at Cincinnati Ohio and different parts of Florida. 

I’d like to hear from successful airbnb investors here on BP and how they started out in the very beginning. How should I start? Multi family or single family? Does the interior have to look modern? Travel nurses, vacation, etc? How do I acquire a management team and cleaning crew? Any good books? 

appreciate it. 

3Reply
126 views

Most Popular Reply

Steven Foster Wilson
Rental Property Investor · Columbus, OH · Member since 2017 · 3k+ posts · 3k+ votes
3y

Hey Michael, you could use this link here: https://www.columbus.gov/str/ to get a feel on how the Ohio STR regulations are. All the best to your real estate journey!

4Reply
See this reply in the discussion

27 Replies

Jump to latestLatest
  • Luke CarlPro Member
    Rental Property Investor · Tennessee Florida · Member since 2016 · 4k+ posts · 5k+ votes
    3y

    Read Avery’s book. Hands down. 

    Podcast Guest on Show From Surviving on $30/Day to 30+ Properties Thanks to Blue-Collar Skills
    3Reply
  • Josh Freedenberg
    Member since 2021 · 12 posts · 8 votes
    3y
    Quote from @Luke Carl:

    Read Avery’s book. Hands down. 


     I second that. It will help you confidently step by step.

    0Reply
  • Michael Evans
    General Contractor · Palm Desert, CA · Member since 2016 · 193 posts · 79 votes
    3y

    Here's a really good Facebook group where I got a lot of really great tips and networking. 

    "Get Paid For Your Pad"  

    They have a podcast too

    1Reply
  • John UnderwoodPro Member
    Investor · Greer, SC · Member since 2014 · 13k+ posts · 17k+ votes
    3y

    I would think Florida would be better.

    I also recommend starting with Averys book.

    0Reply
  • Jared HottleBusiness Member
    Real Estate Agent · Cedar falls IA Waterloo, IA · Member since 2020 · 902 posts · 549 votes
    3y
    1. Research Markets: Before investing in a rental property, especially an Airbnb rental property, it is important to research the local market carefully. Look for areas with high demand for short-term rentals, such as tourist destinations, convention centers, or universities. Check out the competition in the area and determine the occupancy rate, average nightly rate, and the type of properties that are most popular.
    2. Type of Property: Whether you choose to invest in a multi-family or single-family property depends on your goals and budget. Multi-family properties have the advantage of generating multiple income streams, but they may also require more maintenance and management. Single-family properties may be easier to manage, but the income potential may be lower.
    3. Interior Design: The interior design of your Airbnb rental property is important. It should be clean, comfortable, and stylish. You don't have to spend a lot of money on high-end furnishings, but the property should look modern and inviting.
    4. Target Market: It's essential to have a clear idea of your target market. Will you be targeting vacationers, business travelers, or traveling nurses? Each market has different needs, and you will need to cater to them accordingly.
    5. Management Team: You will need a reliable management team and cleaning crew to help you manage your property. Look for experienced professionals with a good track record. You may also want to consider hiring a property management company to handle the day-to-day operations.
    6. Education: There are many resources available to help you learn about Airbnb rental property investing, such as books, online courses, and blogs. Some popular books on the topic include "The Airbnb Story" by Leigh Gallagher, "The Airbnb Entrepreneur" by Jasper Ribbers, and "Profitable Airbnb Properties" by David Leroux.

    Overall, investing in an Airbnb rental property can be a great way to generate passive income. However, it's essential to do your due diligence and carefully research the market before making any investment decisions.

    [email protected]319-288-5382
    Jared Hottle Real Estate59 Reviews
    WebsiteView Page
    1Reply
  • Sam McCormackBusiness Member
    Real Estate Agent · Cincinnati, OH/NKY · Member since 2021 · 1k+ posts · 833 votes
    3y

    Hi @Michael A.

    I would like to say that, yes Greater Cincinnati is a good place for an airbnb. Very surprising to most people but there are places here that are surprisingly popular! Especially in NKY. I sent you a DM!

    [email protected]859-443-4952
    Sam McCormack Realtor
    View Page
    1Reply
  • Leslie Anne Morris
    Real Estate Agent · Smoky Mountains, TN · Member since 2022 · 1k+ posts · 984 votes
    3y

    It might make sense for you to test it out on a property you already own. Just ensure local regulations and licensing laws are followed. Then if it works well you can scale or enter other markets. 

    1Reply
  • Brooklyn McCarty
    Investor · Member since 2022 · 1k+ posts · 754 votes
    3y

    Start with Avery Carls book, Short Term Rental, Long Term Wealth. It’s a great place for everyone to start. 

    I would look at tried and true vacation markets, also discussed in Avery’s book. 

    0Reply
  • Steven Foster Wilson
    Rental Property Investor · Columbus, OH · Member since 2017 · 3k+ posts · 3k+ votes
    3y

    Hey Michael, you could use this link here: https://www.columbus.gov/str/ to get a feel on how the Ohio STR regulations are. All the best to your real estate journey!

    4Reply
  • Laura Peterson
    Member since 2023 · 5 posts · 2 votes
    3y
    Quote from @Leslie Anne Morris:

    It might make sense for you to test it out on a property you already own. Just ensure local regulations and licensing laws are followed. Then if it works well you can scale or enter other markets. 


    This is super important. The rules change county by county. Here, in NC, permits are required in several, but not all counties. Some counties offer a fixed number of permits that increase incrementally each year to which investors must apply to be in the lottery. One of my properties is in a county that requires 3% occupancy tax (yes, just like a hotel) for any STR under 90 day stay. One local county requires an annual health inspection. I have seen massive changes in local rules and state regs in Georgia, NC, SC (especially Charleston). The Southeast is starting to become incredibly difficult UNLESS you are in the mountain, beach, or rural spaces. Ohio - Cleveland, Cinci, Columbus, and other near uni towns are great locations. Little to no regs/or permits. Indiana used to be welcoming. They've limited permits within the city limits of Indy. Be sure to do this research in advance or you'll have fewer monetization options. THAT SAID... you can turn a space into a commercial event space (think: mico weddings, intimate parties, photoshoots), if you change zoning for the property. Sometimes that's easier to do than fighting STR permit process.

    1Reply
  • Mike D'ArrigoPro Member
    Turn key provider · San Jose, CA · Member since 2010 · 4k+ posts · 3k+ votes
    3y

    @Michael A. you're asking a lof of great questions that can't easily be answered in a forum. Starting up an AirBnB is a big endeavor to get it right. One of the first things that I look at when evaluating a market for STR is how many visitors does the city get per year. That's what drives short term rentals. Then I look at how many AirBnB are in the market. Cincinatti gets 26M visitors a year which is good, but personally, I think there are stronger markets. As far as FL goes, you'd have to be more specic about what cities. Most are going to be vacation destinations which everyone seems to like but quite frankly, aren't always the best. Some markets are oversaturated and the occupancy is veery seasonal. You have to be prepared to go long periods of time with low occupancy rates. Both MF and SF can do well in the right areas. You will get different types of guests though. SF will attract families while MF tend to attract single travelers or people staying for business. These can be great short term renters. A colleague of mine has a 1Br duplex in Kansas City with an exceptionally high occupancy rate. There is no one right answer. Take the time to get to know the market and when areas attract, what type of visitors.

    2Reply
  • Nathan M kiefer
    Rental Property Investor · south carolina and michigan · Member since 2023 · 348 posts · 226 votes
    3y

    the very first thing we tell people is travel...

    many people dont visit their strs, we do, we have two beach houses in sc and 18 in michigan.

    the STR's do a combined $160k a year and we make it a point to go once every 4-6 weeks to check on them and work our relationships in the area. im also a contractor so this doesnt make sense for some people but my wife and i made that commitment to be involved in what we invest in. we see our properties and stay in them 6-8 times a year, that would be my best first advice is to love what you bought and where it is and check on it frequently. doing so you will meet all the connections you need- cleaners, contractors etc.


    we manage ours all in house using vrbo/airbnb and a local site that produces and has worked well with us, hope you find a perfect place and lastly make sure it has the best amenities in the area! ours is gated 318 acres to the ocean and has too much to type but it has a water park pools, kiddie pools play area and that is the draw for the home- that and the ocean!

    best of luck

    0Reply
  • Michael BaumPro Member
    Olympia, WA · Member since 2016 · 8k+ posts · 7k+ votes
    3y

    It's a short term rental @Michael A.. AirBNB is a platform where you advertise your STR. :)

    You just need to start reading the forum. There is a ton of info here covering everything from where to buy to setup to management.

    0Reply
  • Tom DegroodtPro Member
    Evans, GA · Member since 2016 · 121 posts · 65 votes
    3y

    Number 1 thing is to make sure whatever you buy can stand on it's own as a long term hold (rental). I have seen people but turnkey STR's where the seller and agent have advertised it as "unit made $XX,XXX.00 in income last year" selling price is $XXX,XXX.00. All of those numbers make sense to buy the place, except the place 2 down sold last month for 80% of what this unit is on the market for. If for whatever reason, slow economy, city or county outlaws STR's, local economy takes a hit.... Whatever the reason... If conditions change and you need to use a different strategy it will effect the income the place brings in. If income is reduced by 80% you don't want to have to dump money in every month to keep it afloat. Managing STR's is both more work and more costly then managing long term rentals, that is one reason there is more reward. Don't let someone bamboozle you to turn the extra profit that should come from a STR into being the same as the profit required if it is a LTR.

    1Reply
  • Mike D'ArrigoPro Member
    Turn key provider · San Jose, CA · Member since 2010 · 4k+ posts · 3k+ votes
    3y

    @Michael A. I just realized that I failed to give you the most important piece of advice in my previous response. Some cities and counties have some pretty Draconian ordinances and restrictions on STR's that you need to research first. For instance, I just looked at Orlando FL and if I'm reading it right, it appears that they don't allow STR on residential (R) zoned districts. Check out the restrictions in your market of choice first.

    0Reply
  • Michael A.
    OP
    Financial Advisor · Member since 2022 · 67 posts · 67 votes
    3y
    Quote from @Mike D'Arrigo:

    @Michael A. I just realized that I failed to give you the most important piece of advice in my previous response. Some cities and counties have some pretty Draconian ordinances and restrictions on STR's that you need to research first. For instance, I just looked at Orlando FL and if I'm reading it right, it appears that they don't allow STR on residential (R) zoned districts. Check out the restrictions in your market of choice first.

    I appreciate it Mike! 
    0Reply
  • Juan Ponder
    Member since 2023 · 2 posts · 2 votes
    3y
    Quote from @Tom Degroodt:

    Number 1 thing is to make sure whatever you buy can stand on it's own as a long term hold (rental). I have seen people but turnkey STR's where the seller and agent have advertised it as "unit made $XX,XXX.00 in income last year" selling price is $XXX,XXX.00. All of those numbers make sense to buy the place, except the place 2 down sold last month for 80% of what this unit is on the market for. If for whatever reason, slow economy, city or county outlaws STR's, local economy takes a hit.... Whatever the reason... If conditions change and you need to use a different strategy it will effect the income the place brings in. If income is reduced by 80% you don't want to have to dump money in every month to keep it afloat. Managing STR's is both more work and more costly then managing long term rentals, that is one reason there is more reward. Don't let someone bamboozle you to turn the extra profit that should come from a STR into being the same as the profit required if it is a LTR.

    @Tom Degroodt I'm still a newbie doing my research, but this seems like sound advice that I have not seen elsewhere.

    1Reply
  • Brandon Gale
    Rental Property Investor · Worcester, MA · Member since 2018 · 131 posts · 135 votes
    3y

    @Michael A. before chosing a market, do some research into their current short term rental laws AND any laws that have been discussed or proposed. Short term rentals have obviously exploded in the last few years, and alot of towns/cities have complaints coming from full time residents and have tried to push through strict laws. I would say stay away from places that have even proposed laws against short term rentals in the past few years, even if it didnt pass.

    0Reply
  • Harrison Chow
    Real Estate Agent · Columbus, OH · Member since 2019 · 292 posts · 364 votes
    3y

    As a landlord, mid-term rentals can be a better option compared to short term rentals like Airbnb. Mid-term rentals provide a steady stream of income for a longer period of time, which can help landlords avoid the hassle of constantly searching for new tenants. Additionally, mid-term rentals often result in fewer turnovers and less wear and tear on the property. This means landlords can save money on cleaning and repairs between tenants. Finally, mid-term rentals often attract tenants who are more responsible and respectful of the property, which can result in fewer issues and complaints from neighbors. Overall, mid-term rentals can provide a more stable and profitable experience for landlords compared to short term rentals.

    If you are interested in the Ohio Market, I would suggest the Columbus Market. Columbus is a great place for short term and mid term rentals for landlords for several reasons. First, Columbus is a vibrant and growing city with a strong economy, which attracts a diverse range of visitors and residents. This means there is a consistent demand for rental properties, both short and mid term.

    Second, Columbus is home to several major universities, including Ohio State University, which attract a large number of students and their families. These students often require housing for shorter periods of time, such as a semester or academic year, making mid-term rentals a viable option.

    Third, Columbus is a popular destination for business travelers due to its central location and proximity to major transportation hubs. This means there is a demand for short term rentals from professionals attending conferences, meetings, and events in the city.

    Finally, Columbus has a relatively low cost of living compared to other major cities, which makes it an attractive option for people looking for affordable short or mid-term rental options. This means landlords in Columbus can offer competitive pricing and still generate a reasonable profit.

    Overall, Columbus' strong economy, diverse population, and high demand for rental properties make it a great place for landlords to invest in short and mid-term rental properties.

    Let's connect I can help you find the right management team to manage your rentals! 

    2Reply
  • January Johnson
    Real Estate Agent · Emerald Coast, FL · Member since 2016 · 820 posts · 486 votes
    3y
    Quote from @Michael A.:

    I currently own one rental property (duplex). I plan to buy another rental property by the end of this year around $150k price range. I’ve been thinking about trying the Airbnb route. My current duplex is a normal tenant occupied rental. 

    I’m wondering what the best markets to invest in for Airbnb. I’ve been looking at Cincinnati Ohio and different parts of Florida. 

    I’d like to hear from successful airbnb investors here on BP and how they started out in the very beginning. How should I start? Multi family or single family? Does the interior have to look modern? Travel nurses, vacation, etc? How do I acquire a management team and cleaning crew? Any good books? 

    appreciate it. 


    Don't overlook Panama City, FL (different city from PC Beach).  Purchase price points are lower here.  We have 2 hospitals (with a new one coming soon on PCB), a shipbuilding company (with contractors), 2 colleges, 2 military bases (Air Force in PC; Navy in PCB), and the AF Base is not rebuilding the housing that was damaged in Hurricane Michael.

    I own 4 STRs in PC and am the longest-running host in the city.  Feel free to reach out with other questions!  

    2Reply
  • Conner Olsen
    Real Estate Agent · Austin, TX · Member since 2020 · 1k+ posts · 941 votes
    3y
    Quote from @Michael A.:

    I currently own one rental property (duplex). I plan to buy another rental property by the end of this year around $150k price range. I’ve been thinking about trying the Airbnb route. My current duplex is a normal tenant occupied rental. 

    I’m wondering what the best markets to invest in for Airbnb. I’ve been looking at Cincinnati Ohio and different parts of Florida. 

    I’d like to hear from successful airbnb investors here on BP and how they started out in the very beginning. How should I start? Multi family or single family? Does the interior have to look modern? Travel nurses, vacation, etc? How do I acquire a management team and cleaning crew? Any good books? 

    appreciate it. 


    I'm doing MTR on 2 duplexes, 4 units and it's going great. Gross rents are up 75-100% over market rates. You can find cleaners or maintenance people through an agent or on FB groups. There's a lot of demand out there for MTR, and there's a much larger market than just traveling nurses.

    1Reply
  • Doug Spence
    Investor · San Diego, CA · Member since 2016 · 1k+ posts · 975 votes
    3y

    @Michael A. A couple of buddies of mine started an awesome STR management company called Serenity Stays - I'm happy to connect you with them. They're very knowledgable about the business!

    0Reply
  • Lucie Tighe
    Property Manager · Tampa, FL · Member since 2022 · 147 posts · 66 votes
    3y

    My suggestion would be set a goal, narrow it down to a couple of locations and do a ton of research on local zoning laws and regulations. Things to consider.. do you want to be out of state investor-list and manage yourself or hire a PM to manage it for you? What are your goals? Do you need certain amount of money to cover mortgage/expenses or can tolerate more fluctuation in occupancy rates throughout the year. That would influence greatly the market you wanna look into.. very seasonal beach resort, ski resort or a market that can be producing more balanced income year round? What kind of clientele you want to cater to? 

    AirDNA can be a great resource to look up different locations, occupancy rates and rates.

    0Reply
  • Jon Martin
    Member since 2022 · 1k+ posts · 1k+ votes
    3y

    Why do so Columbus realtors come out of the woodwork on so many threads? Am I the only one who notices this? 

    I would agree that it is a market with merit potential for different strategies, but geez, it's like clockwork with you guys . . . .

    0Reply
  • Michael BaumPro Member
    Olympia, WA · Member since 2016 · 8k+ posts · 7k+ votes
    3y

    Well, he did say Cincinnati, OH. Makes sense.

    0Reply
Join the conversationCreate a free account to reply, vote on answers and follow this thread.
Log InJoin for Free