All Forum Posts by: Estrella Carolina Mckinney
Estrella Carolina Mckinney has started 33 posts and replied 102 times.
Post: What costs do you evaluate to ensure that the property is profitable?
- Investor
- Posts 110
- Votes 51
Quote from @Eliott Elias:
For a rental you want to take into consideration vacancy, property manager fees, maintenance and mortgage.
Yes, thank you very much for the contribution
Post: What costs do you evaluate to ensure that the property is profitable?
- Investor
- Posts 110
- Votes 51
Quote from @Randy Rodenhouse:
A big one that you did not mention is the insurance. Insurance costs have gone up dramatically in many areas. Also, when buying make sure the main systems like HVAC and roofs etc are in decent condition since is very costly to replace.
very important too, thanks for mentioning it.
Post: What costs do you evaluate to ensure that the property is profitable?
- Investor
- Posts 110
- Votes 51
I evaluate taxes, service fees, maintenance costs and other expenses to ensure that the property is profitable.
Which ones do you take into account?
Post: How has it been for you in the real estate world? every story tells a story.
- Investor
- Posts 110
- Votes 51
Quote from @Doug Spence:
@Estrella Carolina Mckinney Great story! What did you do in the military? I've been an active duty Navy officer since 2009, and I've been building my real estate portfolio on the side since 2016.
I own properties in Florida, Wisconsin, and Oklahoma, and I'm a passive investor on 4 commercial real estate syndications, (two multifamily, one RV park fund, and one mobile home park).
Are you concerned about the oversupply of STR's? Where are yours located?
Hi, I almost went Navy, I got cold feet haha. I did 10 AF and 10 Army, (Res) retired DEC2021. Are you staying for your 20? That's bold, I can't imagine having properties in different states. Good for you. I would love to connect. I'm havent done anything passive, I can't wait for those days. SF will never be a problem in this side of town, san antonio tx. We have tremendous influx of people moving, we have all the right attributes to a strong market. If you ever need anything this side of town don't hestitate to reach out. I believe in helping and giving back.
Post: How has it been for you in the real estate world? every story tells a story.
- Investor
- Posts 110
- Votes 51
Quote from @Estrella Carolina Mckinney:
Quote from @Hamp Lee III:
Congrats to you! Thank you for your service!
I'm still active duty (about 15 months to go).
Look forward to using my experiences to help our local community.
I wish you all the best.
likewise. 15 months will go by fast. Looks like you are in San Antonio. I've been here for 10 yrs so SA is now my home. Let me know how we can help each other. I started new construction aswell and that's my end goal. Developed sell and keep some, gotta love some depreciation. So New Construction is my name now. Feel free to reach out, I have a couple of homes at Dominion one on MLS. :)
Post: How has it been for you in the real estate world? every story tells a story.
- Investor
- Posts 110
- Votes 51
Quote from @Hamp Lee III:
Congrats to you! Thank you for your service!
I'm still active duty (about 15 months to go).
Look forward to using my experiences to help our local community.
I wish you all the best.
Post: How has it been for you in the real estate world? every story tells a story.
- Investor
- Posts 110
- Votes 51
I am Estrella McKinney, former military, wife, mother, daughter and sister. I am a dreamer, risk taker and entrepreneur. I started my real estate career in the military, buying and renovating older homes. I now own and manage 16 family properties.🙌🏼✨
Due to health issues from my military service, I left the military and went full time into real estate. In just seven years, I have exceeded my real estate expectations. I completed eight new construction projects in 2023, with three more expected by the end of this year✅.
I ventured into Airbnb at the end of 2022 and, in 2023, I started managing 11 Airbnb properties, all of them achieving superhost🤩 status.
Every day, I work with dedication, respect and love for what I do. 💜🏡✨
I read yours!
Post: What is your approach to pricing short-term rentals?
- Investor
- Posts 110
- Votes 51
Quote from @Gi'angelo Bautista:
Dynamic pricing is better than fixed pricing.
You can adjust pricing by using a pricing tool and discounts. For our pricing tool, we use Wheelhouse and it's a lot better than Price labs. I heard Price labs might've get more venture funding so it may change in the future. We don't let Wheelhouse automate everything because the market is moving too much (especially now). Our team changes pricing every week and we also use various discount incentive strategies to get guests to book with us.
There are data providers you can use in tandem with your pricing tools. Analytics are also provided by the OTA's and you can use your PMS if you have historical data.
There is a calendar section in our pricing tools that compare our nightly rates with comparables and we can see how much more we are getting.
My vote is for dynamic pricing.
Post: What is your approach to pricing short-term rentals?
- Investor
- Posts 110
- Votes 51
Quote from @Michael Baum:
We are the odd hosts out because we use a flat rate.
I am sure we could make a bit more money, but people see the right rate from the get without a bunch of different daily prices.
We have been thinking about looking at Pricelabs. We will see.
Post: What is your approach to pricing short-term rentals?
- Investor
- Posts 110
- Votes 51
Do you use dynamic strategies or do you prefer fixed rates?
Normally dynamic is usually used in low seasons creating special offers and promotions to generate bookings, how do you work with it?
I read them!