All Forum Posts by: Steven Foster Wilson

 On point! Cleveland and Columbus are your go to market 2023. Cleveland is a more stable cash flowing market while Columbus will be the best spot for appreciation. I recently did a flip there. You can pretty much find properties that will be able to provide you that 1% rule! 

Hi Tyler, I've been working with a lot of out of state investors in CA and I can definitely say that the affordability of housing in that area is really crazy right now. You could take a look at other markets in the Midwest. Like in Ohio for example, there are big corporations that are coming in and this makes a huge impact to the whole market. My market recommendation will generally depend on what you're after. 

Looking for cashflow? Look into Cleveland, its got good cash flow potential with appreciation happening as well. Looking for appreciation? Come to Columbus, there are still 1% deals, but the more attractive part is the population growth and other economic drivers!

Hi Joy, welcome to BiggerPockets! It's important to understand the potential risks and challenges involved in STRs. Here are some things you should consider:

1. Research your local laws and regulations - Many cities and municipalities have specific rules and regulations governing short-term rentals. Make sure you understand the local laws before you start listing your property.

Take Ohio for example, here are the STR regulations in this state: https://www.columbus.gov/str/

2. Understand your target market: Consider who your ideal guests will be. This will help you determine what type of property to buy and how to market it.

3. Choose the right location: As with all other real estate properties, location is key in the STR business. Look for areas that are popular with tourists or have a high demand for short-term rentals.

4. Invest in the right amenities: Having an STR property, this is mostly dependent on good reviews, it's important to provide a comfortable and well-appointed space. This may include amenities like great internet service, a fully stocked kitchen and comfortable sofas and beds.

5. Work on a solid pricing strategy: Set your prices based on seasonal trends, market demand, and your own expenses. A property manager will be able to help you with this. You could also use some pricing tools available online.

6. Plan for maintenance and cleaning: Consider hiring a cleaning service and a handyman or contractor to handle any repairs or upgrades.

Lastly, be prepared for the unexpected: There are risks involved in short-term rentals. It is always best to make sure that you have adequate insurance coverage and a plan in place for dealing with any unexpected issues that may arise. All the best!

Hey Darryl, I'm pretty biased and my recommendation will generally depend on what you're after. Looking for cashflow? Look into Cleveland, its got good cash flow potential with appreciation happening as well. Looking for appreciation? Come to Columbus, there are still 1% deals, but the more attractive part is the population growth and other economic drivers!

 You're welcome! The book challenges conventional thinking about money and encourages readers to adopt a different mindset towards wealth and financial independence. It emphasizes the importance of financial education, building assets, and leveraging opportunities. This is truly great for starters. My wife and I also love the Million Dollar RE Agent and the Million Dollar Investor by Gary Keller as well as The Abcs of Commercial Real Estate investing by Ken McElroy. You'll find these very beneficial in your real estate journey. 

 You're welcome! There are a lot of strategies to take. It just depends on what you're after. Like in the Ohio market currently, if you're looking for cashflow, look into Cleveland, its got good cash flow potential with some appreciation happening as well. Looking for appreciation? Come to Columbus, there are still 1% deals, but the more attractive part is the population growth and other economic drivers! Understand the market well before jumping into and you will do well. All the best!

 You're welcome! Feel free to connect and ask for advice if you're ever looking in the Ohio market. All the best!

 If you're looking to buy something on market, it gets really competitive. However, you could still find a lot of affordable off market deals that'll give you a decent cashflow with a great appreciation to look forward to. I just recently bought a house under market value and did my recent flip and these were off market properties. So I can definitely say there there are still deals to be had.

Hi Erika, welcome to BiggerPockets! This is surely the best place to start networking and learning. I always recommend the book “Rich dad, Poor dad” by Robert T. Kiyosaki to anyone starting out. Start listening to the BiggerPockets podcast starting at the very beginning and start growing your network, look on Facebook/BiggerPockets for different events, find a mentor doing what you want to do, and get to know the local lenders/brokers. All the best to your real estate journey!

Hey Katie, I'm sorry to hear that you're going through an eviction process. Dealing with such situations can be challenging and stressful. This is one of the reasons why I always choose to have a property manager in place cause my heart just can't take it. It would be best to familiarize yourself with the eviction laws and regulations in Georgia. Each state has its own specific procedures and timelines for eviction cases, so understanding these laws is crucial to your business. You'd need to contact your local sheriff's office or court clerk to understand the process for executing the judgment and arranging for a sheriff or constable to perform the eviction. 

Best to consult with a legal professional who can provide guidance based on the specific details of your situation. They can ensure you follow the correct procedures and help you navigate the eviction process smoothly. Hope this helps, all the best!