All Forum Posts by: Collin Hays

Has anyone else submitted receipts to Airbnb for damages, let's say for $200 and they come back and say that they approved reimbursement for $150?  That's bs.  If the receipt says what it cost to do the repairs, that amount should be reimbursed.  

On another note, we recently had an epic snowstorm in New Orleans, where we own a property.   Our guests' flights were cancelled.  Airbnb cancelled the reservation the day before our guests' arrival, after we explicitly told them that we would not budge on our STRICT cancellation policy. 

To my knowledge, guests also have trip insurance.  Airbnb is supposed to take the hit, in the case of a natural disaster or storm etc.  The booking payout was for $1495.00.  After SIX phone calls (because you always have to speak with someone different each time) Airbnb CS sent an email saying that they "are only able to reimburse us $900.00"  WTH?  

I know that Airbnb keeps getting greedier and greedier, but this is in violation of our cancellation policy.  

Has anyone else experienced this kind of mistreatment?  If so, does anyone know of a lawyer, who can sort this out with a quick phone call to Airbnb?  

 Realistically speaking, except in very rare cases, I think it’s all about pictures pictures pictures

Most people aren’t gonna have success  starting their own booking website or running targeted ads or creating some amazing Instagram account. Just take what you get for free, which is an Airbnb listing, and just put the best most spectacular pictures you possibly can on there
 

and after you’ve done that, go back and look at your listing and try to think of ways to make those pictures even better

I think that’s pretty much the formula to success in this industry. Pictures pictures pictures in that Airbnb listing

Yeah I just don't see the point of buying STR at this point, the markets are so saturated. Housing prices are high, mortgage rates are high, and competition is fierce so revenue is way down

It’s one thing if you bought a while back like many of us did, so your cost basis is much lower. But for people thinking about diving in now, what’s the point? You’ll get a better return over the long-term by putting your money in the stock market. And you’ll be much more relaxed too bc  you won’t have to deal with 1 million house problems and annoying guests 😂😂😂

I think some people are diving into STR because they think it makes them look cool, or they want a cool side project. But really you're just creating a second job for yourself and one that doesn't pay very well if it even is cash flow positive at all 😆

I used to buy houses for STR but now that I've got several STRs up and running that I bought many years ago, I stopped buying STR once mortgage rates went up and housing prices went up. Over the last few years, I take all of my STR profits and dump them into the stock market and I couldn't be happier. Stock market returns have been good and I don't have the headaches of dealing with any additional houses or guests. A true win-win

I realize this is biggerpockets so we’re all supposed to act like real estate is the most amazing investment class on the planet. But it’s OK to be realistic and aware that there are plenty of other asset classes and we don’t need to all obsess over buying real estate, especially in a market where housing prices and mortgage rates are both so high. Real estate is not the end all be all panacea for building wealth, there are a lot of other options many of which will give you way fewer headaches than real estate will!

I know this is an unpopular opinion around here that you won’t see on the front page of the daily BiggerPockets newsletter, but it’s the truth

I'm in the process of purchasing a second home in Aspen, CO, which will also serve as my first STR property. The townhouse is located in Aspen's sought-after lodging district, where STRs are fully permitted. It's a newly renovated 3-bedroom, 2-bathroom home, just one block from the ski slopes and four blocks from downtown.

The current owner has been renting it out for $30,000 per month during the peak winter and summer seasons. Over the next couple of years, I don’t plan to use the property often, but I may stay there occasionally when it’s not occupied. My primary focus is on maximizing cash flow.

Does anyone has experience with STRs in Aspen, I’d love to hear your advice or insights!