All Forum Posts by: Kyle Parks

Lakewood is the best area in the greater Cleveland area. No way the prices go any higher though - 150%+ appreciation in the last 5 years. 

Since most of the homes are doubles/duplexes its hard to imagine that they will go higher, IMO. The rent for a 2/1, unfurnished, sits around 1100 / month whereas 5 years ago it was 750. Its hard to believe that people can afford much more. There was an article posted in cleveland magazine the other day where the writer hinted at lakewood needing rent control (what i got from it anyways). 

There are lots of "gurus" peddling this idea. When I first heard of it I watched a few videos trying to see how they think this will work long term. 

Let's be very clear on 1 thing - the VAST majority of people selling courses on YouTube make the majority of their money telling others how to do it at $500 a pop. Thats the real gravy train. 

with that said - I may be doing 2x arbitrage units in the future, but the future owner of the units has an interesting situation where he owns businesses below the units that will benefit greatly from a STR and semi captive audience. I would not go looking to leverage myself like this but if its a solid win / win why not

Airdna is pretty good. Cross reference with airbnb. The best thing about airdna is finding local units that are not currently on the market. 

 I half agree. They are probably projecting low but id also say that there is definitely less traffic. The main take away here is that the operators with worse reviews and less desirable properties are the ones taking the hit. 

@Chelsea Jeffers

There are a few good blocks on waterloo road that have become an arts district. Otherwise run don't walk

@Shashi Varma

Just posted the perfect reply. Giving someone a bad review does little to nothing. The only people I give bad reviews are those who throw parties or smoke in my non smoking home.

At the end of the day the only recourse is "do not host this person again".

The other day someone used our toilet brush to (the only thing that could have made this mess) wipe their *** with, completely covered in ****. Can't make it up.

Or the person who used our nicely printed guestbook as a coaster on a ****ing glass table that also had 4 coasters on it. The thing was COVERED in sticky soda residue.

Or the person who ??? Went through our house with a mister full of cooking oil and sprayed it all over every table surface?

These people sucked, but I now have their money and they no longer have the option to stay at my place.

Every bad guest teaches you something. Make sure you are listening

I think it depends on the hospital. Im near the cleveland clinic. We get lots of short stay guests who are in town for an operation, consultation ect. 

buutttt the cleveland clinic is one of the best hospitals in the world. Ymmv

I think it depends on your area. Why are people traveling? Most people will instantly say "another bedroom", which will typically be the correct answer. 

my rental with 2 queens typically gets 1-2 guests, 85% of the time id say. Our place with 1 queen and 2 twins (both are 2/1) has families like 60% of the time.  But I'm in drive through country with tons of 1 night stays. 

Its a totally meaningless "study"

Id like to see a list of most profitable places to invest and most dangerous cities, and where cities intersect.

Cleveland is 7? Its also one of the best places to invest. Low $$ property, tons of multi unit properties, lots of decent neighborhoods full of working class people.

@Joe Splitrock

I completely agree. Physical objects in a digital world also give a sense of value. We have a short but sweet "heres our favorite places" type book, printed out with small blurbs of why my wife or I like them.

We also renovated our home ourselves- we threw some before, during and after photos in the book.

We also have a small unmarked guestbook on a table near the entrance.

I personally feel that many operators have walked away from what made airbnb successful and fun in the first place- the fact that it is not a motel.