They say no one vacations in Cleveland, but don’t tell that to Walter McCormick. Last year, he began renting his Ohio City home on AirBnB and has attracted travelers from all over the world. Guests love staying at his home due to its location and the superb customer service Walt provides. On this episode, he shares his tips and strategies for cultivating a thriving AirBnB business in the Midwest.
Key Market Insights
Spent time as a pre-school teacher, for IRS, and in IT
Grew up in Cleveland Heights on the East Side and moved to Ohio City on the West Side in 2016
One of the first major cities in Ohio, 5 minutes from downtown Cleveland
Ohio City used to be a separate city from Ohio – home of James Garfield
Significant number of bars and restaurants
Has been compared to a smaller version of Austin with diverse resident base
Group homes for veterans, mentally challenged, and various hospitals
Art scene is thriving in Ohio City, Lakewood, Tremont, Gordon Square
Ohio City/Tremont were trendy and found himself gravitating to the area
Wanted to share his space initially and then saw a business opportunity
150 guests since June – people from Australia, India, California
Many book for bachelor and bachelorette events, others are locals or startups
Consults others on how to make their place AirBnB ready
The location is the most important aspect – is this a desirable location? Do people travel here and spend money in this area?
Create a space that adds to their travel experience and represents your personality, interests
Rely heavy on ratings
Bull’s Eye Tips:
Winning Your Market: Be passionate about the experience
Tracking Market Changes: Embrace it, check what others are doing
Daily Habit: Thank God, and remain consistent and positive (Be consistent in positivity)
Ep. 6 Quit Your Job, Rent Your Place and Travel the World with Jasper Ribbers
Ep. 13 Cash Flow in Cleveland with James Wise
Best Business Books:
Rich Dad Poor Dad by Robert Kiyosaki
Power Broke by Daymond John
Think and Grow Rich by Napoleon Hill
"They say no one vacations in Cleveland, but I’ve had guests from Australia and India”
"Local amenities help attract guests"
"There were times when I came home during lunch breaks to turnover the AirBnB rental"
"Ask other AirBnB hosts who they use for cleaning"
Places to Grab a Bite in Ohio City:
Breakfast – Grumpy’s Café, Borderline Café, Lucky’s Cafe
Lunch – Beer Head
Dinner – Soho Chicken and Whisky, Spotted Owl, Heck’s Café, JukeBox
Connect with Walter:
Leave us a review and rating on iTunes or Stitcher. Be sure to check out more info at TargetMarketInsights.com.