All Forum Posts by: Leslie Anne Morris
Leslie Anne Morris has started 3 posts and replied 1252 times.
Post: Does anyone find AirDNA to be WAY way off in some scenarios?
- Real Estate Agent
- Smoky Mountains, TN
- Posts 1,261
- Votes 983
Yes, they've been off for me for awhile. Mostly coming in low.
Post: STR in twin cities area and good real estate CPA
- Real Estate Agent
- Smoky Mountains, TN
- Posts 1,261
- Votes 983
learnlikeacpa.com is who I use!
Post: maintenance and supplies at scale?
- Real Estate Agent
- Smoky Mountains, TN
- Posts 1,261
- Votes 983
I created a property management company after scaling to 5 units. We use Slack for communication and easy to upload documents and try to lean on vendors to manage things like cleaning products. We don’t house any inventory.
Post: Monthly Stay Refund policy
- Real Estate Agent
- Smoky Mountains, TN
- Posts 1,261
- Votes 983
I am using more moderate cancel policies on most platforms. Just keep in mind if they've already booked your existing cancel policy will apply. It will only change for bookings coming in after you've made a change. You might move towards furnishedfinder.com for longer stays.
Post: Return Expectations for Gatlinburg/Pigeon Forge/Wears Valley
- Real Estate Agent
- Smoky Mountains, TN
- Posts 1,261
- Votes 983
I think this is totally doable based on how you've laid it out. I have buyers preapproved and waiting for the right deal to hit the market. Mountain views are where the money is OR an ultra special property (think something very unique, different or highly remodeled).
Post: Feedback on my analysis approach + 2 questions
- Real Estate Agent
- Smoky Mountains, TN
- Posts 1,261
- Votes 983
I think this is a sound way to analyze rent potential. You may also want to network with other investors or even investor agents in your area who have market insight.
Post: Rate My Response to a 4 Star Guest Review
- Real Estate Agent
- Smoky Mountains, TN
- Posts 1,261
- Votes 983
It's still a decent review, not horrible. It may hurt you in the beginning, but very short term. It will have a pile of 5 star reviews on top of it in no time and no once will scroll to see it. I don't think it warrants a reply
Post: Is Booking.com a good platform to use for hosts?
- Real Estate Agent
- Smoky Mountains, TN
- Posts 1,261
- Votes 983
I was on booking.com a few years ago and didn't book much through there. Then I started to hear horror stories such as yours and pulled my listings off the platform. I focus on VRBO/Expedia Group, Airbnb and direct bookings.
Post: STRs - can I be convinced they are a good idea...
- Real Estate Agent
- Smoky Mountains, TN
- Posts 1,261
- Votes 983
This is definitely a different time to 'get in.' You have to run your underwriting conservatively and account for all factors of what has changed in the last couple of years (prices higher/interest rates higher, etc). With that said, you can't just buy anything and make it work unless you want to lose money and have a second home. You also have to consider that ADR adverage daily rate is increasing (not on par with inflation, but close).
Post: Airbnb Hosting as an Individual or Business/Brand? Building to sell/transfer
- Real Estate Agent
- Smoky Mountains, TN
- Posts 1,261
- Votes 983
Quote from @Eddie Gonnella:
@Leslie Anne Morris If you had a property that was hosted by Vacasa and then you sold the property to someone else who intended to also have Vacasa host the property, Vacasa wouldn't have to remove the listing and restart it? So in that way, it seems to me that a listing can be "sold". Just in this thread I'm seeing a lot of people who are setting up their listings in a similar way so that the Airbnb brand account could live-on with the property.
But I think many others take the strategy/approach that you have with your set up and it seems like there are merits to doing it that way too. Is there any ever any confusion for the guest as to who they are talking to? Does every employee sign off to them through the PMS as "Josh" from "Josh's Cabins" or do they disclose that they are a different person? Or do you mean that you have a branded account that serves as co-host to all the listings and you respond to people via the PMS through the branded account?
I think he might be over thinking some of this feel free to message me.