All Forum Posts by: Garrett Brown

What is your biggest pain point with STRs right now? We are working on more resources to help new and experienced hosts here at BiggerPockets. Real feedback of struggles or topics people want to dive in further helps us create the content that truly inspires and educates our community.

Mine is definitely finding the right deal that fits my buy box lately. It has been frustrating but it also is a positive as I now can quickly know what deals to not even waste time on analyzing. 

What is your biggest struggle? 

Sorry you are dealing with this! I'm not sure how they can not see it was not an "act of god" with the circumstances. I would keep following up and trying to escalate further. I'm very surprised by the chair as well because they usually will at least replace things like that for a % of the original price (or new price). 
You can also can copy their aircover policies into chatgpt and tell it to show this guest violated their policy to see if there is an angle you are missing. I have had to escalate review removals and broken items a few times and they always drag their feet on it. 

I agree completely. You only have one first impression with guests browsing OTA's and your hero photo and listing title are crucial. Too many people will put something like "Downtown Condo" when the guest is well aware they are already looking at downtown condos. What sets your lisitng apart? What are the amenities that people will crave in your market? 

Happy New Year everyone! 

Hey Nik, congrats! Jan and Feb are historically slow but a few suggestions I have are
1. Are you on both VRBO and Airbnb? What about booking.com?
2. Use a dynamic pricing tool like Pricelabs or Beyond Pricing. 
3. Did have high quality photos/ great listing title and description?
4. Did you hit as many amenities as you can? Stocked kitchen, wifi, Hot tub, etc?
5. Make sure to put Alt Text on each photo you have uploaded so Airbnb's algorithm will list you in as many categories as possible. 

Just a few tips to look into but it usually takes some time to gain steam on your first listing so be patient and keep analyzing the local compeition /your own listing. 

I only buy in vacation markets that depend on tourism to keep their area going. If I was buying in a city market in an unrestricted area, I would make sure it is a good deal as a MTR or LTR at worst case so you can switch if you ever have to. Hotels are definitely not fans of STRs but it is regular people and safety officials that are pushing for these regulations. 

Hey Jonathan! Sounds like you are going to be a good host already. I would stock around 4 Tide pods, 4 dryer sheets, 4 things of TP per bathroom, full roll of trash bags ( I would leave that one up to trust that they are using for a valid reason)., 2-4 paper towel rolls, etc. You can also leave out some bulk hotel toothbrush/toothpastes, make up removers, earplugs, sleeping masks, etc. if you really want to step up a "In Case You Forgot" basket.
You can keep a closet with extra of things that has a lock on it and if someone is irrate because they don't have enough pods, you can at least have a back up solution for them if you choose too. 

Main thing I would think of if you are targeting families are things like pack and plays, cribs, gamerooms for kids, etc. as well. You'll learn what works best for your property as it rolls along.

Canva for sure

Hey Aidan, those two things are not comparable, in my opinion. I think @Matt Devincenzo said it well. How can you make the business more profitable so you earn more? They are doing the job they are paid for and if they are doing well, should be paid well. A bad cleaner that is not paid well would tank your revenue so I think it's a blessing to have a well-paid and amazing cleaning team. 

Can you add on upsells to your stay? Should you switch to a different minimum per night stay? Can you cut your expenses in other places that you spend? You have 8 units, maybe it's time to start a cleaning business lol. (3/4th joking and 1/4th serious)

Hey Meghan! Welcome to the forums. Congrats on the fifth STR! I think diversity is great in a portfolio but so is scaling the area you are currently doing well in. What are some of your big goals in the next 5-10 years can probably help you answer this question better. I think getting really good at one thing, establishing a network within that niche, and being able to analyze deals quickly is the key making things work. Real estate is beautiful though because there are so many things to try and see what actually makes you happy .