All Forum Posts by: Collin Hays

Houston metro area is a collective of a bunch of municipalities. Some of these may be heavily regulated, others maybe not. You would want to check with each municipality as to their zoning and/or deed restrictions.

 Who is they ?

When I travel, I glance at the overall rating. You can research the best 5-Star hotels in the country, and they will have their share of rotten experiences. Some people are looking for a rotten experience.  

You are not going to be marketing to luxury travelers for sure. But neither is Dollar General and I think they are doing quite well.

We went with a butcher block type counter at a cabin reno and it turned out really nice. It does take a bit more babysitting - sealing and resealing - but it definitely gave off a more "cabin" look than stone.

We use the VRBO channels exclusively, unless a homeowner is insistent on Airbnb.

We do not agree with several key Airbnb policies, including placing the homeowner in the position of insurer at their whim - which the homeowner has not been compensated for - if a natural disaster or pandemic occurs.

Allow me to expand on that.  Keep in mind that Airbnb aggressively markets their own travel interruption insurance to guests at the time of booking. It's a big revenue center for them.  I've got no beef with that.  But then COVID comes along, guests are ill and they can't travel. Instead of paying out claims from the very insurance policies that they sold, Airbnb unilaterally begins refunding from the homeowner's money, while Airbnb pockets all of the premiums they collected!  

This is not a one time event:  Airbnb routinely makes the homeowners insurers, indemnifying the guests financially for any calamity that Airbnb sees fit, such as the Helene flooding last year.  A guest can't arrive due to flooding. So Airbnb decides to make that the homeowner's problem by giving all of the money back to the guest. Homeowners have plenty enough calamities of their own to deal with, without taking responsibility for everyone else's. If my air conditioner goes out, do I have the right to bill my guests for it?  Of course not. It's my responsibility.  

I am actually quite surprised that there has not been a class action suit brought by Hosts against Airbnb way for this activity.

And that is why we do not list on Airbnb. Hope that helps.

I never advise investing in a condo. Condos are commodities, and when supply exceeds demand - which is most of the time - they will not rent for practically any price.  We have a very nice condo on our program with a ton of amenities and great views. We almost can't rent it for the cleaning fee.  

Why is that?  The answer is in your post:   "It is supposed to be a 5-star hotel."  So the fancy hotels will be your competition. Except they deliver a lot of amenities that you cannot:  Valet parking, room service, bell service, concierge, restaurants, coffee and liquor bars, meeting spaces, gift shops, and daily maid service.

And within five years, your condo isn't kept up to the standards of the Hiltons and Marriotts surrounding you, while your HOA keeps going up.

The local convention & visitors bureau should have this data.

Are you guys still offering some sort of basic programming on your Smart TVS - cable, YouTube TV, etc., or are you just providing WIFI and guests then log on to their own accounts?  

A 1200 square foot cabin on the river in Gatlinburg is going to appraise for twice what a comparable 1200 square foot cabin is, a few hundred yards away in the forest. I good friend of mine paid $1K per square foot cash for two tiny cabins on the river in Gatlinburg two years ago. Investors who buy these such properties aren't necessarily buying for rent yield, as much as long term price appreciation. 

And investors also are not necessarily buying based on what some appraiser says it is worth. Speculative investors are going to pay based upon what they think it will sell for in 3, 5, or 10 years, not what some third party says it is worth today.