STR Coaches or Courses?

Question

If you've taken a short term rental online course or have hired a coach - I'd love to hear about anyone you recommend (or don't recommend).

I'm a first time investor and eager to sift through the fake information online to find genuine, accurate, helpful information.

I'm open to your beginner friendly or step-by-step courses or coach recommendations.

John Underwood · Answer

Never spent money on things that are free and readily available here on BP.

Also Avery Karl's two books on STR'S are good starting places.

Andrew Street · Answer

Hi there! Totally understand wanting to sort the real guidance from the hype. From what I’ve seen, the most helpful courses and coaches are the ones focused on fundamentals - numbers, regulations, operations, and guest experience - rather than just flashy revenue screenshots. Whatever you choose, treat it as guidance, not a shortcut, and look for people actually doing the work day-to-day.

Happy to connect with you.

Andrew Steffens · Answer

@Kate Luna - welcome to the group and congrats for taking first steps.  As mentioned above I personally (and most people here agree) a coach or course is not necessary.  Most everything has been asked and answered here already (you can search keywords and read through old posts here).  Here is what I recommend you do:

1. Get financing in order - make sure you know how much you can borrow/pay, down payment, interest rate etc.  If you are unsure of what state you will invest in, you can switch #1 and #2.

2. Figure out what market you want to be in.  There are free tools and other resources to help you decide.  Once you have decided or at least narrowed it I recommend on connecting with a local Realtor with verified STR experience (important!!).  As your buyers agent it is usually free to use their expertise.

3. Once you have your lending, market, and agent working for you, look at what options you have.  Be patient if the right property is not available now, the best deals can take a little time and patience.

4. Contract/negotiate, inspect, appraise, and close.  While going through these steps consider your post acquisition plan.

5. Post acquisition - Likely your market will be competitive so make sure the property you pick is well located.  Once closed I recommend professional design and adding necessary amenities to compete well with other similar local properties.

6. Management - There are typically 3 options a) self manage - a lot of resources here, but not for everybody.  A good local manager can largely offset their fee. b) full service management - turn the property over and hopefully collect passive income.  This is usually 15-25% of gross depending on market and manager. c) limited service management - sometimes called co-hosting as well they handle some aspects of the management (usually either the virtual parts or the on site parts) and you fill the gap personally.  This is a good option if you are looking for tax benefits that still require material participation.

Good luck and do not hesitate to reach out to myself or the other regulars here if you have any questions.  Happy Hunting! :)

Nicholas L. · Answer

@Kate Luna

hello - i would try to find other local investors doing the same thing or slightly ahead of you and just form your own group or mastermind.

hope that helps

Jeff Chisum · Answer

Shawn Moore- Vodyssey.  Short Term Shop intro workshop.

Mike Grudzien · Answer

Work with an "Airbnb SuperHost Ambassador".  It's a consulting program only for new hosts, paid for by Airbnb, no cost to the new host.  Go to my profile to learn more.And get the STR books from BiggerPockets!

STR Coaches or Courses?

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