All Forum Posts by: Theresa Holl
Theresa Holl has started 21 posts and replied 257 times.
Post: People who have 5 STRs how much totally would you generate in a year?
- Investor
- Minneapolis
- Posts 265
- Votes 160
$20K a piece would be very low. $40 - $50k each would be a low annual average. Some people will say that there are long quiet seasons to factor in but you can mitigate that risk with events and retreats. A little relationship building with yogis, wellness types, knitting clubs, anyone nearby who needs an event site now and then and you should be good to go.
Post: We are 1031ing out of our true 2/2 Smokey Mtn cabin with views and privacy
- Investor
- Minneapolis
- Posts 265
- Votes 160
Nancy- are you going to STR the Long Island property?
Post: Need Tips for Marketing Higher-End Mobile/Manufactured Homes
- Investor
- Minneapolis
- Posts 265
- Votes 160
Hey Wendy, I have a friend from PHX who might have some ideas for you. Let me know if you'd like an intro.
Post: Guesty finally did it
- Investor
- Minneapolis
- Posts 265
- Votes 160
Quote from @James Carlson:
They're really calling it "Guesty Lite"? That alone makes me question the company's competence.
It immediately conjures images of a lite beer: "Guesty Lite: Tastes okay. Less features."
Post: How long should it take to find a tenant?
- Investor
- Minneapolis
- Posts 265
- Votes 160
Landlords need to market themselves all the time, not just when they need a tenant. My friend has written an app called Shuk Rental Marketplace (I'm not in the company) so landlords can get rated and rate their tenants. The idea is that you build a following of warm relationships and can leverage your reputation when you need a tenant.
Post: Analysis Paralysis on Personal Use + STR Vacation Home
- Investor
- Minneapolis
- Posts 265
- Votes 160
You really want to surround yourself with experts on every aspect of STR investing from insurance to financing, REI analysis, tax strategy, growth and marketing plans, etc... people who are good at this have teams of specialists guiding them.
Post: Vrbo Master mind - settings change
- Investor
- Minneapolis
- Posts 265
- Votes 160
Thanks for this update John.
Post: Best keypad for Airbnb
- Investor
- Minneapolis
- Posts 265
- Votes 160
NoiseAware is also popular. It messages the guest directly if noise exceeds a certain decibel level.
Post: Analyzing Potential Earning for Customers
- Investor
- Minneapolis
- Posts 265
- Votes 160
Quote from @Sarah Kensinger:
Some of the sites mentioned are not used by STR operators at all. We don't run numbers with hotels since we're a completely different animal! Most would just tap into airdna and some are now messing around with BnBcalc. For a very through instruction on running numbers for a STR, Tony Robinson created this video and analyzer for newbies.
Many STR investors might not consider hotels to be their direct competition, or think of KPIs the same, but hotels are definitely competition for STRs. I often take massive road trips and will stay at a mix of STRs and hotels or quirky lodges depending on what looks fun or convenient. It doesn't hurt to think like your competition now and then. Also, from a marketing and revenue management position, hotels are better than many STR hosts at maximizing top line gross revenue with events and other specialized clientele. We teach our clients in the STR game to use those strategies and the results are impressive.
Post: Guesty finally did it
- Investor
- Minneapolis
- Posts 265
- Votes 160
Quote from @Michael Baum:
What is the difference? The Lite designation intimates a product with lesser features than the original or Pro version.
Guesty for Hosts to Guesty for PRos was rip and replace, AKA nightmare to upgrade. Lite to Pro is supposedly seamless so it's a huge strategic move for them.