All Forum Posts by: Dave Stokley
Dave Stokley has started 13 posts and replied 658 times.
Post: Mashvisor's 100 Best Cities For Airbnb list is released. Thoughts?
- Rental Property Investor
- Cleveland, OH
- Posts 676
- Votes 793
One reason being they just have crap data. For example, the only market in Ohio that made the list is Shaker Heights, where STR is explicitly illegal and the city actively and aggressively shuts them down. That said, it can be a fantastic MTR market (if you know what you're looking for and have the network to find the guests).
But moreover, why would anyone need a list of 100 cities?!?
Post: Is this a new trend?
- Rental Property Investor
- Cleveland, OH
- Posts 676
- Votes 793
its a no brainer if you travel for work and stay in Hotels they beat any air bnb or vrbo hands down. the points you earn along with CC points end up with 5 to 10 nights free per year so for me example going to portugal this year and get 5 days free at a TOP end hotel that would cost over 600.00 a night. just no comparison for the business traveller with all the perks hotels give you. Only way for me personally that I would choose an air bnb or vrbo is if we had a large group which i never have.. or like talked about rural Montana or other areas were there are no hotels. Plus for me with my status Free breakfast LOL
Post: Is this a new trend?
- Rental Property Investor
- Cleveland, OH
- Posts 676
- Votes 793
Quote from @Jon Martin:
I noticed this with VRBO about a month back. Actually took 2-3 clicks to get to the final out the door price, and it was well over double the nightly rate all in.
On a related note, Hotels dot com also gutted their "stay 10 nights, 1 night free" program, which was basically a 10% rebate/dividend. It was incredible if you traveled for work and had control over how you booked. Hot a few dozen free hotel nights for personal use over the years. Now you only get 2%. They spun is a win for the consumer, but when I tried to cash in the points it didn't even work on at least half of the places I tried to book . . . WTF?
Dumbest part is that I was looking forward to cancelling my hotels account, but not I can't because I have a VRBO owner account tied to the same email, so I would basically be deleting my VRBO listing in the process. Absurd.
Check out the Hyatt rewards program. Especially if you can expense your work stays to your own Hyatt credit card and get reimbursed.
Post: Is this a new trend?
- Rental Property Investor
- Cleveland, OH
- Posts 676
- Votes 793
Post: When will House bill 563 be finalized?
- Rental Property Investor
- Cleveland, OH
- Posts 676
- Votes 793
I spoke with one of the sponsors earlier this summer and she said it has hit some snags and needs to be re-written. I wouldn’t count on it anytime soon. Moreover, my understanding is that it will not preempt any existing regulations, which is why many cities have been rushing to get regulations in place (e.g. Akron).
Post: city illegally telling me to shut down my Air BNBS ?
- Rental Property Investor
- Cleveland, OH
- Posts 676
- Votes 793
Quote from @Bruce Woodruff:
The Govt can do whatever it likes. You can fight them. I'd hire an attorney.
Good luck to you!
Sadly this is the truth.
Post: city illegally telling me to shut down my Air BNBS ?
- Rental Property Investor
- Cleveland, OH
- Posts 676
- Votes 793
Post: The city is not disclosing all of the Short Term Rental Regulations to me...
- Rental Property Investor
- Cleveland, OH
- Posts 676
- Votes 793
If it’s just a draft some councilman is working on I doubt you have any recourse. Anything that has actually been read into the record at a committee or council meeting is public record and easily available.
Post: Determine most profitable amenities
- Rental Property Investor
- Cleveland, OH
- Posts 676
- Votes 793
Rabbu allows you to select certain amenities, but I don’t believe it says exactly east each is worth. Airdna definitely does not.
Post: Building a 12-year Plan
- Rental Property Investor
- Cleveland, OH
- Posts 676
- Votes 793
Quote from @Ryan Moyer:
Turn-key with a management company? Cash flow will likely be zero.
The STR secret is out. If you want good cashflow you need to be looking at value-add and/or self-management.
There are still places out there where I'm sure you can cashflow with turn-key and a PM, but it's not going to be a big return.
With all due respect, this is utterly false. I have lots of clients making great returns. You just need the local knowledge to know where to look.