All Forum Posts by: Dave Stokley

Unless rates are stable throughout the year (nobody’s are) occupancy is a meaningless number. What you really want to know is annual revenue, and the best source I’ve found for that is Airdna (must use paid subscription to see comps). I’m sure there are some data aggregators out there specifically for hotels too. Also seems like if it’s an operating hotel they should be able to provide financials.

Are the rental projections from the PM also for STR? Or LTR?

We use Properly. It’s a visual checklist that requires cleaners to take pics and submit them for review in real time (by Properly staff, not us).

Assuming you showed a loss and need to convince them you really didn’t lose money? Good luck, underwriters don’t think like that.

You're better off getting a DSCR loan from one of the lenders that will use Airdna data for the income side. Check out Host Financial and Aloha Capital.

My calendars stay full only using Airbnb. I’ve always thought direct booking sites aren’t worth it and are way more expensive to operate. I get a ton of bang for my buck for the 3% I pay Airbnb.

I can only assume you posted this as a joke. Because it is hilarious. 👏 
Anyway, the more people that bail out the better for those of us that know what we’re doing! ✌️ 

Yeah man it's not for everyone, and there's nothing wrong with that! Most people that invest in traditional real estate don't work as the landlord - not sure why they'd operate differently on an STR.

Lol, who would have thought a hospitality business required… hospitality? I think a lot of gurus have been out there selling products that only made money if you self-manage, so they’ve convinced everyone it’s easy peasy. Kind of a bummer when you find out you’ve actually purchased a job rather than an investment property, isn’t it?