All Forum Posts by: Eric Garcia

Another vote for pricelabs.co. Makes pricing easy. Quick and easy way to adjust your pricing strategy vs the competition. With price labs, I quickly found out that my ADR was below market which explained why I was always 80%+ booked. I've doubled my ADR since and still booking extremely well. I may have to increase again. 

@Nick Belsky I'll PM you

Hello BP, 

Can anyone recommend a lender in Florida that will do a cash-out refi without seasoning? I'm looking to BRRRR.

So I'm looking at the Neighborhood Data for my listing in Pricelabs. It shows Future Occupancy 30 days out as 60% and 60 days out as 40%. My listing is 84% booked for the next 60 days. I'm obviously happy with that Occupancy Rate and I am also happy with the Average Daily Rate but am I leaving money on the table? I could stay the course or I could increase pricing knowing that my OR% will likely drop. What would you do?

@Ruben Kanya Who is your typical guest? Traveling professional?

Here's what I did when I purchased my STR. I read the Short-Term Rental, Long-Term Wealth book and heard the audiobook 2.5 times. Made a shopping list and a To-Do list. I listed the home on Airbnb and blocked off a few weeks to get everything done then worked my butt off right up until 1 hour before the first guest checked in. The STR is a 7-hour drive, by the way. And it took me two road trips. I never finished the lists and I have been adding even more items since. Two guests down, two 5 star ratings. It'll never be perfect but if you're thoughtful and put your guests first, they'll notice.

Excellent book. Read it once and heard the audiobook 2.5x. 

Does anyone have experience with short-term rentals in Atlanta? If you can share your occupancy rates and ADR that would be great. I'm just getting started in the STR game and exploring markets.

Interesting conversation. @Michael Weigum, did the HELOC help you pick up the 2nd condo also?

I believe that more than anything else, location will determine which you should go with. Either one will work in a great location. If they are in the same location then work the numbers and see if that clears it up. Lastly, I hear mobile homes don’t appreciate well if at all but maybe someone else can confirm.