Hello! First post on Bigger Pockets:) My husband and I will be closing on our first STR in about 3 weeks!!! It's located in Sevierville, which is about 4 hours away from our home. We hope to have the property set up on the weekend that we close. Two questions, when do hosts typically make their listing live? And do you recommend any specific calendar integration/ automated messaging systems? We are going to self-manage and have looked into guesty a bit but it seems like there are several options. Thanks in advance for any advice you can share!
Real Estate Investor · Saint Paul, MN · Member since 2017 · 543 posts · 474 votes
3y
@Eliott Elias You will get those calls, certainly. But if you get a good handyman and cleaner, and do a good job prepping your cabin, it’s not bad at all. Depends on what your time is worth. For me, the $100k of so I save by self managing is worth 5-6 hours a week. Different for everyone.
Investor · Greenville, SC · Member since 2015 · 1k+ posts · 1k+ votes
3y
A few questions. Is this a new build, or are you buying an existing STR? I have never had an STR ready in the first weekend in either case. If an existing STR then maybe if you don't make any changes it's possible, but I have never had one ready that fast. If it's a new build you better plan on staying there for the next 2 weeks to flush out all of the problems and screw ups that the builder put in there. And even so that probably won't be enough time to get everything fixed. I just don't think it's realistic to have it ready to list the weekend that you close. And actually you need to stay at the property to figure for a good week anyway, just so you learn the ins and outs of the property. You need to be able to field questions from guests about things and if you don't stay there a bit to get a feel for it, you won't know how to answer some of these questions. I don't list until I am confident I know the STR will be ready. For starting out fresh, just stick with VRBO and Airbnb. You need to learn what happens and how things work and how to handle things before you switch over to a PMS. Calendar integration and automated messaging are doable on both platforms.
Hello! First post on Bigger Pockets:) My husband and I will be closing on our first STR in about 3 weeks!!! It's located in Sevierville, which is about 4 hours away from our home. We hope to have the property set up on the weekend that we close. Two questions, when do hosts typically make their listing live? And do you recommend any specific calendar integration/ automated messaging systems? We are going to self-manage and have looked into guesty a bit but it seems like there are several options. Thanks in advance for any advice you can share!
Make your listing live as soon as it's finished! Cell phone pics are ok at first but get professionals done asap. I use Hospitable and like it, also heard good things about guesty. I use Pricelabs for pricing but there are a couple other options as well.
Rental Property Investor · Ocean Springs, MS · Member since 2022 · 349 posts · 301 votes
3y
@Ken Boone, they are likely buying an already functioning STR based on their location and timeline. Great advice on staying in the home and getting familiar with your STR.
@Lindsey Wagner congratulations! I really love that area of Tennessee and hope to own there one day. @Conner Olsen is spot on with his advice. Like him, I also use Hospitable with Pricelabs and have since day one and it's been great. I use a Schlage Encode smart lock integrated with Hospitable to automatically generate guests door code. Beyond that I use Turno to find and schedule cleaners. I wouldn't say you NEED Hospitable or a PMS right away, but for me personally it saves me enough time that it pays for itself. Pricelabs also pays for itself although I use the tools in it to compare my prices to comparable properties and make needed adjustments manually. I always look at tools based on the cost/benefit analysis and will it save time or money. Good luck!
@Ken Boone, they are likely buying an already functioning STR based on their location and timeline. Great advice on staying in the home and getting familiar with your STR.
@Lindsey Wagner congratulations! I really love that area of Tennessee and hope to own there one day. @Conner Olsen is spot on with his advice. Like him, I also use Hospitable with Pricelabs and have since day one and it's been great. I use a Schlage Encode smart lock integrated with Hospitable to automatically generate guests door code. Beyond that I use Turno to find and schedule cleaners. I wouldn't say you NEED Hospitable or a PMS right away, but for me personally it saves me enough time that it pays for itself. Pricelabs also pays for itself although I use the tools in it to compare my prices to comparable properties and make needed adjustments manually. I always look at tools based on the cost/benefit analysis and will it save time or money. Good luck!
Joel, when you find those good cleaners are you sticking to Turno and reusing them or integrating them into Hospitable?
Real Estate Agent · Smoky Mountains, TN · Member since 2022 · 1k+ posts · 984 votes
3y
Definitely do not make your listing live with cell phone photos or photos from the listing when you bought it. Do it right, wait for completion, list with pro photos. Happy to recommend a photographer. If you are planning to self manage you won't need Guesty until you scale. I recommend setting up systems to my coaching clients once they scale to 5 units.
Rental Property Investor · Ellsworth, ME · Member since 2021 · 1k+ posts · 2k+ votes
3y
@Leslie Anne Morris I respectfully disagree. Get the listing up as fast as you can then add professional photos (also as fast as you can). We threw our first listing live with cleaned up cell phone photos while waiting on a photographer. It took us 7-8 weeks to get that photographer to the house after him canceling due to rain that would result in poorer quality photos and rescheduling due to an unexpected family issue. In those 7-8 weeks, we did $22k in booking revenue with our cell phone photos. If you can get a professional out to take photos right away, that is obviously ideal. If you cannot, get the listing live as fast as you can and then do have a sense of urgency to get professional photos. Cell phone photos are not a good idea, but you could lose booking revenue waiting on a professional photographer.
As for systems, we use Guesty. Others are good too...they all have some quirks to get used to but do the job.
Real Estate Consultant · Chattanooga, TN · Member since 2018 · 384 posts · 330 votes
3y
@Lindsey Wagner Congrats! It is definitely doable to make your listing live ASAP after closing. If you're keeping everything the same, you can have your agent ask the listing agent for permission to use the listing photos. I use IGMS and PriceLabs in terms of systems. IGMS works fine for me, others love whatever they use.
The STR learning curve can be a lot at first. It's worth it, congratulations again!
Contractor/Investor/Consultant · San Diego / Phoenix · Member since 2021 · 12k+ posts · 15k+ votes
3y
I agree with @Travis Timmons (again, no disrespect to @Leslie Anne Morris). You need to make money ASAP, this is a business. just take very good photos, and preferably with a real camera, not your cell phone - Yes I know they get higher pixels and all that, but the overall look is just not as good.
But do not rush into furnishing and art, etc, that will be a killer if the first few guests are turned off by a hasty set-up. I would not plan on spending one weekend on it right after you close. It should/will take much longer than that.
Rental Property Investor · Ocean Springs, MS · Member since 2022 · 349 posts · 301 votes
3y
@Conner Olsen so far I have kept them in Turno, but I also haven't found a cleaner that I have loved yet. They all do a decent job with normal guests, but in the past they have all missed the mark with dirtier guests. Today I tried a new cleaner and I have two more new cleaners coming in the next two weeks. If I find on that I can trust, then I will look at integrating them into Hospitable, however that works.
It took us about 4 months to get things squared away before we went live. We had repairs to make and 2700sqft to furnish.
I wouldn't use cell phone pics, but I would bust out a good DSLR and take photos with that. That is what we did and it hasn't negatively affected our listing.
We plan on getting pro photos this year but for the last 5 years things have been doing just fine.
@Leslie Anne Morris I respectfully disagree. Get the listing up as fast as you can then add professional photos (also as fast as you can). We threw our first listing live with cleaned up cell phone photos while waiting on a photographer. It took us 7-8 weeks to get that photographer to the house after him canceling due to rain that would result in poorer quality photos and rescheduling due to an unexpected family issue. In those 7-8 weeks, we did $22k in booking revenue with our cell phone photos. If you can get a professional out to take photos right away, that is obviously ideal. If you cannot, get the listing live as fast as you can and then do have a sense of urgency to get professional photos. Cell phone photos are not a good idea, but you could lose booking revenue waiting on a professional photographer.
As for systems, we use Guesty. Others are good too...they all have some quirks to get used to but do the job.
Agree to disagree is the spice of life! Disagree away. Multiple opinions on the topic are justified. In my market, that would be the kiss of death, as I have experienced it firsthand when I was a newbie investor. Your story is the perfect example though of a different side of the coin.
Real Estate Investor · Saint Paul, MN · Member since 2017 · 543 posts · 474 votes
3y
@Leslie Anne Morris I agree 100%! Don’t waste the initial exposure you get on the platforms with a listing that has poor pictures. There is far too much competition to not take proper advantage of that. And as others have said, there is no way you can get a place ready to go in a weekend, unless it is a rare situation where all the furnishings, decorations, linens, kitchen supplies, small appliances, cleaning is almost perfect when you walk in. Most places you purchase have suffered from some level of neglect and you MUST address that right away to really be successful.
Investor · Austin, TX · Member since 2021 · 9k+ posts · 5k+ votes
3y
I don’t recommend self managing. You’re going to get those calls at 9-10 PM, your handymen are going to be unreliable and it’s going to take from your time.
Real Estate Investor · Saint Paul, MN · Member since 2017 · 543 posts · 474 votes
3y
@Eliott Elias You will get those calls, certainly. But if you get a good handyman and cleaner, and do a good job prepping your cabin, it’s not bad at all. Depends on what your time is worth. For me, the $100k of so I save by self managing is worth 5-6 hours a week. Different for everyone.
Rental Property Investor · Minneapolis, MN · Member since 2016 · 34 posts · 22 votes
3y
Sevierville is a KILLER market for STRs. Well done on doing your market research!
Starting your own automations and integrations is doable, but it's a heavy lift.
I learned a TON from Tim Hubbard's Rest Methods course. I recommend it.
As for management platforms, Guesty is good until you get to about 5 properties. Then Hostaway gets more competitive and easier to scale.
Other apps you'll want are pricelabs for dynamic pricing along with a communication channel that speaks with your boots on the ground team (cleaner and maintenance).
Rental Property Investor · Ellsworth, ME · Member since 2021 · 1k+ posts · 2k+ votes
3y
@Leslie Anne Morris It's all based on market specifics and situational experience. We were up against a launch on July 4th weekend and our photographer wanted to reschedule on account of rain. It's not plan A to take pictures with your phone, but we were bleeding cash and needed revenue as soon as possible. Part of our decision was also based on looking at several other "mediocre" listings that were booked up during a peak season launch.
Thank you SOOOO much! Excellent advice all around.
To answer a few questions: The home is new construction and "furnished" but we are switching out, shifting, and adding too much furniture to use the listing photos. What I meant by "go live" is making the listing live, not necessarily ready for guests. After we stay for the closing weekend we will reassess our readiness for guests.
I would LOVE recommendations for a professional photographer in the area but we have a Cannon we can use in the meantime. I own my own business so my time is very flexible and I'm often up until 11:30p for no reason at all. We decided on Hospitable but might try without it for the first few months.
Investor · Greenville, SC · Member since 2015 · 1k+ posts · 1k+ votes
3y
OK since this is new construction. I will GUARANTEE you are going to have issues. You really are going to need to stay there for a couple of weeks to flush everything out. You need to test every outlet, be there when it rains, test every window, take baths, showers in every bathroom. Make sure hot water is where it is supposed to be, cold water the same. If this is a well, good chance you might have bad water quality and will need water treatment. Use all the appliances multiple times, check every inch of it out. You are going to flush out a ton of stuff.. Been there many times, especially in that market, a lot of builders jumped on the bandwagon, they don't have good labor in that market, and there are high odds of a lot of punch list items that need to be done before you have guests in there.
Sure it's fully furnished, but I guarantee it will NOT be fully furnished. There will be items you need to add to do things right and you won't know until you live there for a week or two.
@Leslie Anne Morris I respectfully disagree. Get the listing up as fast as you can then add professional photos (also as fast as you can). We threw our first listing live with cleaned up cell phone photos while waiting on a photographer. It took us 7-8 weeks to get that photographer to the house after him canceling due to rain that would result in poorer quality photos and rescheduling due to an unexpected family issue. In those 7-8 weeks, we did $22k in booking revenue with our cell phone photos. If you can get a professional out to take photos right away, that is obviously ideal. If you cannot, get the listing live as fast as you can and then do have a sense of urgency to get professional photos. Cell phone photos are not a good idea, but you could lose booking revenue waiting on a professional photographer.
As for systems, we use Guesty. Others are good too...they all have some quirks to get used to but do the job.
In all of Houston, SURELY there were more real estate photographers that you could have used. I make fun ALL THE TIME of people who use cell phones for MLS or OTA listings. DON'T DO IT. You'll look like an amateur - I don't care how "good" you think you are.
Rental Property Investor · Ellsworth, ME · Member since 2021 · 1k+ posts · 2k+ votes
3y
@January Johnson the property is in a small town in coastal Maine. I get it. Professional photos are better. We would have lost $22,000 in booking revenue if we waited until a photographer was available. We called and asked around - there was really only 1 good option. It was also Maine in July. You can rent a cardboard box for $200/night. We understood our market dynamics and did not have to be that good to get booked. We got $11k in bookings in the first 36 hours. We had 100% occupancy for July and August, with the exception of 4 orphan days, at a average nightly rate of $514. It would have cost me $514 for every day I waited to get professional photos. It was a no brainer. We also just got done spending $60k on renovations and furnishing. It was time to make money and I wasn't letting peak season go by waiting on a photographer.
@Leslie Anne Morris I would love a few photographer recommendations! Thank you
HER Photography hands down! Hollie Reid is amazing. She just took photos and made some social media posts for my house that I remodeled/rebranded. It went from a crappy house with bear decor to Dolly Parton Paradise! Check it out: