Passive Real Estate Investment | Casmon Capital Group | United States

From No Experience to AirBnB Rock Star with Walter McCormick, Episode 45

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)

Resources: 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

Digital Resources

Home Advisors

Nextdoor App

Stash App


Tweet This: “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:

Instagram: @theohiocitygetaway


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