All Forum Posts by: Jaeseok An

@Eric Moeller Good to see you here! Seems you've explored this business model deeply past 4 years and made a good business out of this. 

I found this post interesting. If you end up buying 4 years ago, how has it been doing? In 2020, Covid19 hit the world, and Big Bear Lake is one of the most popular tourist destinations during this period. They experienced a surge in Airbnb booking.  Below graph shows YOY growth in Airbnb bookings. 

Are you looking for objective information like data? or looking for advice from experienced hosts?

Typically, hosts make twice more net income when they do it well. It's after talking to many Airbnb hosts and rental arbitragers. 

In terms of the extra time and efforts, it usually worth it but the rewards are more significant when you have more properties to manage rather than 1.  

I've talked to a few Airbnb hosts from Arizona, and can ask questions next time calling them. What are the things you'd like to ask? Is it about their occupancy rates and revenue? or regulations? 

I love your third reason on why starting an STR - It's an interesting perspective that I haven't thought of. One thing that I wished I've done it earlier is getting used to automating the STR operation. Like, I cleaned the property myself as it's easier and I did not make a checklist because I didnt delegate tasks to anyone. I didn't automate the check-in as I liked welcoming people. But, after I automate all those things, I'm surprised how much time I've been spending on STR operations.

This is golden. It's good that you've had the data from your own property to build the model for your own. Agree on the Garbage-in and Garbage-out part. Having accurate data should be the starting point. 

In the short-term rental space, more and more investors and enterprises have been utilising the data well. Websites like Airbnb show a good amount of booking related data publicly, and it made it easier for third-party vendors to collect the data from their website and a few million inventories. Also, OTA like Expedia has been using ML / Computer Vision to predict which professional images would have a higher conversion rate. 

@Bernadeau C. Just out of curiosity before joining the webinar, what tool are you using and how do you collect the data? 

I'm with @Jon Crosby. Don't think it will affect the Airbnb market much overall. I haven't come across to any hosts who are going to throw a big party at their properties.