All Forum Posts by: Tyann Marcink

I invested in STR in Branson 12 years ago. Building my 3rd house there currently. No cheat sheet that I am aware of, but if there is one, Kelly Worley of Worley and Associates would have it. Let her know I referred you if you do talk with her or someone in her office.

As for other expenses to be aware of, it's all your normal things. Do be aware of the high/low seasonality and the booking window is quite short for the small condos.

A reservation management software is highly important. I also couldn't live without my digital welcome book (by Touch Stay), smart locks (Schlage) and thermostats (Trane) on the Nexia system, and cleaning scheduler (Properly).

I'm happy with being in a small town. Key is to know who your guests would be and gear it towards them.

Know your target guest. For example, don’t set up a shabby chic girls weekend studio in a place that mainly deer hunters visit. Go talk to the Chamber of Commerce and the local businesses and find out the demographic of who comes to visit the area you want to purchase in. Then set up the property specifically for that demographic.

Stick to budget but look hard at the numbers. If spending another $100k gets you double the income, see if your budget can be stretched. That’s why I’m building a 10 bedroom house instead of a 5 bedroom house currently.

Keep top of mind Hospitality, customer service, and smiling when writing emails. Plus the other advice from the others who have commented.

STR is definitely not a passive income source.

@Jean H. connecting with you now. Thank you!

@Eric A. if there is anything I can help you with, do let me know. I'm happy to connect you with some vacation rental industry companies who are huge supporters of host groups and especially ones who are facing legislation. 

P.S. My family is looking at St. Augustine this summer for a few days. Know any good places to stay? ;)

@Shelby Pracht why not reach out to those companies? 

That's awesome @Nancy Bachety! I agree there is definite value in them. 

@Ken Latchers there is definitely value in a large forum like Bigger Pockets as well as several really good ones on Facebook. Helps to see the bigger picture and get perspective on host experiences and issues.

Some of the big advantages of a local group are connecting face-to-face, being a positive presence in your town/city before legislation begins, collectively supporting one another on issues that are unique to your area, and organizing promotions with companies (like NASTRA and Host2Host have) as well as sending direct referrals to one another.

@John Underwood I don't recall anyone off the top of my head, but I'll keep it in mind as I travel and meet other hosts. Definitely consider trying to connect with hosts specific in your area. Having a group of support especially comes in handy when legislation begins to crop up.