All Forum Posts by: Theresa Holl

Hi Zachary - I do cohosting and my team has over 100 listings under mgmt around the world. We specialize in maximizing revenue and bookings so you can relax and grow your portfolio. Happy to connect. 612.210.1579 

MTR in a thriving tech community might mean targeting digital nomads, who are really fun to market to.  If you go that route, remember they'll want the absolute best wifi possible, which you'll want to call out proudly in the descriptions on your OTA listing. In order to land the occasional traveling nurse, you'll need black out curtains, for those night shifts.  Mention the amenity several times across your listing for the SEO benefits.  

One requirement for MTR is a lease and researching tenant rights.  You can get documents, applications and other needs taken care of on Zillow to deal with that.   

Quote from @Julio Gonzalez:

@Theresa Holl thanks for the mention!

 Yup. I loved my interview with Heidi for the webinar series...learned so much I should've paid her!!  Cost seg for the win.  

Quote from @John Underwood:

Quote from @Michael Baum:

I see what you are saying @Theresa Holl, but I would sure be leery about someone with no experience managing my STR.

I suppose if the STR listing sucks etc, then I guess you don't have much to lose.

 I agree with Michael. Only a desperate owner would let someone with no experience manage their property. 

That makes sense...I was trying to think of a more creative way for people to get a start in the industry rather than the random requests for clients they throw out online.  Ultimately, everyone starts somewhere.  

I see a lot of folks mentioning on social media (more Facebook than here) that they wish someone would let them intern for free as a cohost. I think a more ambitious strategy would be to "flood the zone with value" - specifically, pick a few listings in the geography you are interested in that are being mismanaged and propose your plan to that owner just as an ice breaker. Example: a listing with a cool property but bad pictures or poorly written Airbnb listing, or maybe it needs a new design refresh or doesn't get many reviews. These are all solvable problems you can draft a business plan for, then propose your strategy and projected business benefits to the host.  There's no future in begging to work for free and it doesn't make you look like the executive who deserves to run someone else's business. If you give this a shot, tell me how it worked. Have fun with it.

Hi Jacob - I have a network of partners from financing to tax strategy, REI coaching, etc...who can help answer a lot of these questions and get you some guidance. Let me know if you'd like to connect. As far as a general STR strategy, a nice 3x2 house within an hour of a major attraction is not too much to manage and can drive a nice nightly rate if you go with high end design. With just the three bedrooms, you can avoid parties but still make some money if you furnish a bit more upscale. Partner with a local winery or spa to cross promote and crate an experience that has you standing out in your market. You can do a lot of cross-promotion with a simple QR code by the guest book. Have fun with it!

Anand- a friend of mine is a mortgage broker with a lot of investor experience. I can connect you. 

Quote from @Austin J.:

Quote from @Theresa Holl:

Hi Austin- any remote link? I'd love to learn more about the TX market. 

 Yes, it's an online discussion over zoom. I'll DM you.

 Thanks Austin.  Looking forward to connecting with the group.

Hi Austin- any remote link? I'd love to learn more about the TX market. 

Quote from @Bonnie Low:

Quote from @Theresa Holl:

Another thing to notice is who the experts say are making money in 2024, which are luxury and eco/experience type properties.  Don't be just another vanilla (forgettable) $190 ADR listing with cell phone pictures, no SEO and the same hot tub and fire pit as everyone else.  You can do something simple like transform a garage or unfinished basement into a "wellness center" for about $10K and then make business connections with local yogis, wellness practitioners, hold meditation retreats and specialized events. Upcharge for spa boxes, maybe a massage or concierge services, etc...Those marketing strategies will boost your bookings and top line revenue, plus make you more memorable.  Think a bit like a boutique hotel owner.  The stay is just the beginning of the revenue stream, like a base line. It gets a guest in the door and you build the experience from there. 

Be creative and see what's missing from the market you're interested in, fill the gap and think of it as a business, not just an Airbnb.  

 Do you have experience running a wellness center type property? I'm asking because I've been interested in in stalling a sauna an was wondering what the upkeep and cleaning of a wooden sauna typically looks like and any challenges relative to maintenance and guests being able to operate it (safely). 

Yeah - my business partner has done it. I can connect you and she'll share some tips for sure.