Strategies to furnish STR / vacation rentals?

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Strategies to furnish STR / vacation rentals?

Matt Ruttenberg
Specialist · Grand Rapids, MI · Member since 2020 · 116 posts · 80 votes

Any strategies out there to fund the furnishing of a STR?

I know consignment stores and garage sales are a way to keep it low cost, but any funding strategies if you’re trying to furnish a higher end property?

Adds up quick!

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Natalie Schanne
Real Estate Agent · Princeton, NJ · Member since 2016 · 1k+ posts · 1k+ votes
5y

@Matt Ruttenberg - there are two common methods to furnishing STRs. The expensive but highly repeatable method is to get a 0% APR credit card for 12-18 months and buy relatively consistent furniture that's trendy-classic, affordable and hotel-like. People will give you high marks for stylish and you will likely get top dollar rental rates for minimal effort but medium-high money. Think IKEA, Wayfair, Amazon (Zinus mattresses), Home Goods decor.

The other method is to actively shop moving sales, especially targeting the most expensive neighborhoods in your area. I like Facebook marketplace and local FB yardsale groups. Your goal is to buy matching high quality bedroom and living room sets from wealthy people at 70-90% off what they paid, usually only 1-3 years ago. You have to skip the sellers who aren’t desperate yet (thinking they can get $1500 for their $3000 sofa) and focus on the ones who just want it gone and the ones who are moving very shortly and are desperate for it to be moved out so they don’t have to pay someone $100/hour to move it. This takes the maximum amount of time but for example I can furnish a bedroom for $200-300 with a full/queen mattress, and foundation/boxspring, attractive wooden or metal bed frame, tall dresser, long dresser with mirror, nightstand. Versus paying $300 just for a new mattress. I might spend $100-300 on a sofa and $50-200 on a dining room table with 4-6 chairs. Like I said, this method takes a lot of time and you can never duplicate it with low effort, which is why most people decide to go with the first method to furnish their Airbnb or VRBO with specific skus and new furniture.

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  • Alex S.
    Investor · Metro East of St. Louis (Illinois) · Member since 2016 · 259 posts · 211 votes
    5y

    We avoid mass purchases of materials to re-use, because AirBnBs need to be somewhat unique to beat the competition. It is a great LTR strategy, but it is less desirable for STR.

    That said...have you slept on an IKEA mattress?  They are fantastic and I buy them for every unit.  I get the firm Haugsvar with the thick IKEA pillow top.

    6Reply
  • John UnderwoodPro Member
    Investor · Greer, SC · Member since 2014 · 13k+ posts · 17k+ votes
    5y

    If you want to go new find a place with 0% financing and get the bulk of the stuff here.

    You can usually save money by paying now on second hand stuff or ordering from places like wayfair.

    4Reply
  • Paul Sandhu
    Investor · The worst town to live in, KS · Member since 2016 · 4k+ posts · 4k+ votes
    5y

    Use the furniture and appliances from your own house. Buy some stuff at a garage sale to replace what you put in your STR.

    3Reply
  • Bruce WoodruffPro Member
    Contractor/Investor/Consultant · San Diego / Phoenix · Member since 2021 · 12k+ posts · 15k+ votes
    5y

    As has been said before....(do some searches :-), we like to get stuff second-hand...not just Goodwill or Salvation Army kinda places, but unique stores where you can find quirky old antiques for a good price. This will lend your place a look and feel of it's own. I think that is a big key to doing this STR thing right. You do not want to look like a hotel, all sterile, with crappy generic pictures and furniture that you've seen a hundred times. A good vacation rental should have a theme with nice art and wall hangings that you picked up at an antique store or estate sales. This does not have to be expensive!

    4Reply
  • John MorganPro Member
    Rental Property Investor · Grand Prairie, TX · Member since 2018 · 2k+ posts · 2k+ votes
    5y

    @Bruce Woodruff

    I agree with you. However, plushy host.com will manage my Airbnb for 20% and they told me the opposite. They said make it look like a hotel room. That’s what people want. Haha!

    1Reply
  • John MorganPro Member
    Rental Property Investor · Grand Prairie, TX · Member since 2018 · 2k+ posts · 2k+ votes
    5y

    @Alex S.

    Great idea! Thanks. I never thought of IKEA. There’s one only a mile from a rental I plan to Airbnb. I’ll look at their mattresses. Did you buy any other furniture items there? Do they have futons?

    1Reply
  • Natalie Schanne
    Real Estate Agent · Princeton, NJ · Member since 2016 · 1k+ posts · 1k+ votes
    5y

    @Matt Ruttenberg - there are two common methods to furnishing STRs. The expensive but highly repeatable method is to get a 0% APR credit card for 12-18 months and buy relatively consistent furniture that's trendy-classic, affordable and hotel-like. People will give you high marks for stylish and you will likely get top dollar rental rates for minimal effort but medium-high money. Think IKEA, Wayfair, Amazon (Zinus mattresses), Home Goods decor.

    The other method is to actively shop moving sales, especially targeting the most expensive neighborhoods in your area. I like Facebook marketplace and local FB yardsale groups. Your goal is to buy matching high quality bedroom and living room sets from wealthy people at 70-90% off what they paid, usually only 1-3 years ago. You have to skip the sellers who aren’t desperate yet (thinking they can get $1500 for their $3000 sofa) and focus on the ones who just want it gone and the ones who are moving very shortly and are desperate for it to be moved out so they don’t have to pay someone $100/hour to move it. This takes the maximum amount of time but for example I can furnish a bedroom for $200-300 with a full/queen mattress, and foundation/boxspring, attractive wooden or metal bed frame, tall dresser, long dresser with mirror, nightstand. Versus paying $300 just for a new mattress. I might spend $100-300 on a sofa and $50-200 on a dining room table with 4-6 chairs. Like I said, this method takes a lot of time and you can never duplicate it with low effort, which is why most people decide to go with the first method to furnish their Airbnb or VRBO with specific skus and new furniture.

    13Reply
  • Matt Ruttenberg
    OP
    Specialist · Grand Rapids, MI · Member since 2020 · 116 posts · 80 votes
    5y

    @Natalie Schanne thanks for the very detailed response! Very helpful!

    0Reply
  • Brent Kakwitch
    Property Manager · Nashville, TN · Member since 2021 · 15 posts · 7 votes
    5y

    @Matt Ruttenberg

    Hey Matt, my girlfriend and I are going to eventually turn our current home into and STR in Nashville. When we moved in we upgraded to a king bed and were in the market for a new mattress. A friend suggested a Zinus mattress off Amazon and I do not regret this purchase at all! We plan on outfitting this and future Airbnb's with Zinus mattresses until we find something with better bang for your buck. Extremely comfy and very affordable. I'll send you the link in your DM. Hope this helps!

    1Reply
  • Matt Ruttenberg
    OP
    Specialist · Grand Rapids, MI · Member since 2020 · 116 posts · 80 votes
    5y

    @Brent Kakwitch great we’ll take a look!

    0Reply
  • Jake CohenPro Member
    Rental Property Investor · Denver, CO · Member since 2017 · 201 posts · 126 votes
    5y

    @Matt Ruttenberg I go the route of furnishing with new furnishings. I have 6 units and it has worked well for me.

    Check out Ashley Furniture Home Store, American Furniture Warehouse and IKEA for good financing offers and pretty good quality furnishings. I think Amazon has great stuff as well and usually offer good financing on a prime credit card.

    I also have a list of items that I have used that I’m happy to share. Shoot me a Message with your email and I’ll send it your way.

    2Reply
  • Matt Ruttenberg
    OP
    Specialist · Grand Rapids, MI · Member since 2020 · 116 posts · 80 votes
    5y

    @Jake Cohen good call on the 0% directly with the furniture store. I’ll send you a message.

    0Reply
  • Alex S.
    Investor · Metro East of St. Louis (Illinois) · Member since 2016 · 259 posts · 211 votes
    5y

    @John Morgan  IKEA has everything.  COVID has given them issues with keeping things in stock, but I really like their leather (fake leather) sleeper sofa with chaise for AirBnB.  We've used their night stands with USB built-in, kitchen cabinets, rugs...all sorts of stuff.  Reasonably priced and slightly above average quality.

    I'm not a huge fan of the garage sale method.  Though, you CAN score some mega deals (and I have), it is just too time consuming.  Imagine taking one extra weekend to get your property listed because you were hunting around at garage sales.  You lost $800 in potential revenue that weekend and got a used piece of furniture instead of new.  Time = money.

    4Reply
  • Bruce WoodruffPro Member
    Contractor/Investor/Consultant · San Diego / Phoenix · Member since 2021 · 12k+ posts · 15k+ votes
    5y
    Originally posted by @Alex S.:

    I'm not a huge fan of the garage sale method.  Though, you CAN score some mega deals (and I have), it is just too time consuming.  Imagine taking one extra weekend to get your property listed because you were hunting around at garage sales.  You lost $800 in potential revenue that weekend and got a used piece of furniture instead of new.  Time = money.

    To clarify: 1) Do not use garage sales. usually just junk. Go to Estate Sales and/or High-end thrift stores or antique stores.

    2) You can do the shopping while your place is still being worked on, especially at times when you can't be there anyway...i.e. when the painters are doing the interior or floor finishing is being done.

    IF you time it right, you can get waay better furnishing for a fraction of the price.

    2Reply
  • Sandra Morrison
    Investor · Cincinnati/Fort Thomas, KY · Member since 2015 · 207 posts · 183 votes
    5y

    @Jake Cohen I wouod be interested in this as we start tonscale up

    0Reply
  • Mike Pennington
    Member since 2019 · 3 posts · 3 votes
    5y

    Agree with all the posts above. We've struggled this past year sourcing from IKEA. They are constantly out of stock. I've had success at Habitat for Humanity REstore. They often get gently used sofas from hotels and corporations. We got a pull-out sofa for $75 that looks brand new! A YouTuber I follow suggested Sofamania.com. I can't comment on the quality but the prices are good. We've found some good deals at several Goodwill stores. They have (had) a scratch and dent deal with Target. Here are some pictures of my recent STR reno. Big Lots also has decent furniture. Depending on how long you plan to hold the asset you shouldn't skimp too much though, your guests will know and you'll eventually have to replace it.

    3Reply
  • Christopher Busch
    New to Real Estate · Sneads Ferry, NC · Member since 2020 · 21 posts · 8 votes
    5y

    @Mike Pennington looks great!

    2Reply
  • Alex S.
    Investor · Metro East of St. Louis (Illinois) · Member since 2016 · 259 posts · 211 votes
    5y

    @Mike Pennington Habitat for Humanity's REstore is awesome if you have one nearby!  Often new furniture that was donated.

    1Reply
  • Jake CohenPro Member
    Rental Property Investor · Denver, CO · Member since 2017 · 201 posts · 126 votes
    5y
    Originally posted by @Sandra Morrison:

    @Jake Cohen I wouod be interested in this as we start tonscale up

    @Sandra Morrison send me a message with your email and happy to pass it on.

    1Reply
  • Matt Nico
    Member since 2019 · 448 posts · 306 votes
    5y

    @Matt Ruttenberg

    I buy antique furniture from yard sales and sand them down and do custom paint with new hardware to match whatever color scheme I want. People love it and it really stands out.

    Also try building a coffee bar. We get 5 star reviews from that alone.

    -Matt

    1Reply
  • Matt Nico
    Member since 2019 · 448 posts · 306 votes
    5y

    @Bruce Woodruff

    Love everything you said. We think alike with the STR furnishing for sure.

    1Reply
  • Paul Sandhu
    Investor · The worst town to live in, KS · Member since 2016 · 4k+ posts · 4k+ votes
    5y
    Originally posted by @Matt Nico:

    @Matt Ruttenberg

    I buy antique furniture from yard sales and sand them down and do custom paint with new hardware to match whatever color scheme I want. People love it and it really stands out.

    Also try building a coffee bar. We get 5 star reviews from that alone.

    -Matt

     I've done that too.  Sand it down, stain it, urethane it.  If a person can tie their shoes with their eyes closed, they can do the sand/stain/urethane thing.  Most people are pansies, and I'm saying that politely.

    1Reply
  • Adrian Rae
    Rental Property Investor · San Diego, CA · Member since 2019 · 28 posts · 12 votes
    5y

    @Matt Ruttenberg OfferUp!! It’s an app. I use it for side tables, bed frames, mirrros, small tables…basically any piece of furniture. Once I feel like I’ve exhausted my options there, then I’ll take to ikea or amazon. I hate buying ikea furniture new so if I find something I like at ikea, I’ll search around until I can find it used. This does not apply to mattresses or linens - those are always new. When I’m searching on Amazon (curtain rods, curtains, small kitchen appliances, etc), there’s often a used product available to buy - these are usually just open boxes, and if purchased through the Amazon Warehouse, fully refundable up to 30 days (sometimes a part may be missing but worth the savings if you’re really crunching pennies and don’t have a tight deadline).

    Also, honey is a internet browser extension you can add on. On most online retailers, honey will pop up and run through whatever coupons it can find across the internet. I was buying a new fan on 1-800-lighting for my STR in Scottsdale last night and the honey extension saved me $92. The code was mobile20 if anyone is in the market for a fan, lighting, etc. 20% off. I never woulda known if it wasn't for the honey app!

    Hope that helps!

    1Reply
  • Sandra Morrison
    Investor · Cincinnati/Fort Thomas, KY · Member since 2015 · 207 posts · 183 votes
    5y

    @Matt Nico

    I would love pictures of coffee bar. I would love to add one.

    0Reply
  • Daniel SmythPro Member
    Rental Property Investor · Rockford, IL · Member since 2019 · 471 posts · 342 votes
    5y

    @Alex S.

    My last Air-BnB use had a good mattress and headboard, but the plywood under the mattress was held up by cement blocks.

    It slept fine, but in leaving the house and packing those lost socks, many things revealed themselves!

    Frugality and ingenuity are the words I have in mind, rather than cheap.

    New tricks to learn! This is an exciting thing, Real Estate!

    [email protected]
    0Reply
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