All Forum Posts by: Sarah Kensinger

Oh...Yeah, most people take a wait and see if they force me to stop approach. You might get a flood of MTR and you might not. Lots of people don't know about them and there is a major shortage of MTR in large cities where they are most needed.

Use the PMS note section or a google sheet. 

I don't know much about the area you're looking in, but if you need help running numbers just DM. Managing a rental is very much strategy, what improvements can you make that the other condos don't have that can't boost your numbers, does your property have amazing design, 5-star service, guidebooks to the condo and area, plus carefully planned marketing. If your numbers clear the property so its cash flowing positive you should be ok, then with all these in play typically you can do better than anyone else around. 

I've been really surprised over how many hosts have never stayed in that many STR. It's the same way in our mastermind and in some ways kind of tickles me since they're at a loss over what guests want. We have stayed at 35 STR in the last 6 years and would always choose supporting a person over a chain hotel.... unfortunately, the unflagged hotels are usually dives. I actually wrote up a large post sharing what we've learned in our STR stays, that would be beneficial for all hosts to know about and elevate their STR to the next level. Hopefully the OP encouraged more hosts to go stay at a STR when you travel and find out what it's truly like from the guests side.

It all depends on your property and also how you market it. From what I'm hearing and some research I've done, the beach markets have been hit the hardest this year. Most everywhere else, it pretty much depends on the host and property. 

Boostly is another good option! 

Check out mid-term rental! It's a little better in cash flow then a LTR and appeases the city. 

@Andrew Steffens Is right on with how to use Airdna! Most people don't take the time to learn how to use the data correctly or they've only used it a handful of times and not hundreds/thousands of times. I don't know where the thought that Airdna isn't accurate came from, but they have a system and process for pulling the numbers they do. I just underwrote a house this week using Airdna, I also had the numbers from the owner that the property made last year. And wouldn't you know Airdna was spot on! Lenders use them to decide if a property is worth lending on, and so do many of the major STR PM. If it was that off those companies/banks would consider it a data point to avoid. Airdna is about to add a bunch of neat features soon, and they'll pretty much trump every STR data source. Can't wait to see and use what coming!

There's actually a meet up in Atlanta that STR hosts from North Georgia attend. It would be a great chance for you to meet people and talk about the STR market.....The STRategic Investor Meet-up