I wanted to be transparent and share where I’m at in my journey — hoping this helps someone else, and also opens the door for advice and connection. After a year and a half of analysis paralysis, I finally launched my Texas STR this summer. I put alot into it (and maybe haven't done all I can yet, but still!): • Purchased with a conventional loan (pretty sure I’m maxed out on financing this way now, especially with little income to show). • Invested heavily up front: conferences, bootcamps, small groups, professional designer for full setup, studied comps, professional photographer, priced strategically/dynamic pricing. • I work two jobs (foreclosure auctions + hotel), so hospitality is something I genuinely love and plan to stick with long-term. • Goal = 4 STRs in 4 years (buying one each year or so). Purchased with a conventional loan (pretty sure I’m maxed out on financing this way now, especially with little income to show). Invested heavily up front: conferences, bootcamps, small groups, professional designer for full setup, studied comps, professional photographer, priced strategically/dynamic pricing. I work two jobs (foreclosure auctions + hotel), so hospitality is something I genuinely love and plan to stick with long-term. Goal = 4 STRs in 4 years (buying one each year or so). The reality so far: • 1 booking in June, 2 in July, 2 in August — all through Airbnb. (Listed on several sites, but most traffic came through here) • Just partnered with big Vacation Rental PM last week. Booked each weekend in September, but at $340/night (well below my target for my 5 bedroom amenity packed home) and with my calendar wide open for future events I would have normally raised prices for. • Honestly, I don’t love the experience with vacation rental PM so far. I was expecting more value for 15% than lower rates + open calendar. 1 booking in June, 2 in July, 2 in August — all through Airbnb. (Listed on several sites, but most traffic came through here) Just partnered with big Vacation Rental PM last week. Booked each weekend in September, but at $340/night (well below my target for my 5 bedroom amenity packed home) and with my calendar wide open for future events I would have normally raised prices for. Honestly, I don’t love the experience with vacation rental PM so far. I was expecting more value for 15% than lower rates + open calendar. Where I need advice: With my little income from the investment property (so far) + personal debt-to-income ratio, I’m pretty sure I’m tapped out for another conventional loan. For those who scaled past property #1 or #2, what creative financing strategies worked best? (Private lenders, partnerships, subject-to, DSCR loans?) • What has worked best for you when bookings start slow, even with professional design and good reviews? Given the current climate, how do you stay creative or is this something you're used to? Any advice for improving bookings without racing to the bottom on nightly rates? • And longer-term, do you have or know of any STR owner groups (local or virtual) that meet regularly to share referrals, vendors, and support? I’d love to join or even help build one. What has worked best for you when bookings start slow, even with professional design and good reviews? Given the current climate, how do you stay creative or is this something you're used to? Any advice for improving bookings without racing to the bottom on nightly rates? And longer-term, do you have or know of any STR owner groups (local or virtual) that meet regularly to share referrals, vendors, and support? I’d love to join or even help build one. I want to buy STR #2 this December to stay on track for my 4-in-4 goal. Right now it feels like I’m moving slower than I’d hoped — but I still love hospitality, believe I can get there with the right adjustments and I want to find a sustainable path forward.Would love to hear your experiences, what’s worked for you, or even hard truths I should consider. And if you’re also building in the STR space, I’d be glad to connect. —Lauren

3 Months into my newest Airbnb...still optimistically looking ahead! Thoughts?

Rental Property Investor · Somewhere over the Rainbow · Member since 2021 · 1k+ posts · 1k+ votes

1y

How much is your STR making currently? What's the ROI like?

I would consider a pause on STR #2 until STR #1 is operating well. It sounds like it is not doing as well as you anticipated. Quality > Quantity. A lot of people seem to have this obsession with door count or AUM - don't be one of those people. Your goal is likely income and overall ROI. The number of doors is really a meaningless metric.

That being said DSCR loans are the most common - but generally the rates/terms will not be as good as a conventional loan. So you need to underwrite even more conservatively. So if #1 is not working as well as you thought with a conventional then #2 would likely be worse with a DSCR loan. When did you buy this property? What's your interest rate?

Have you read "Short Term Rental, Long Term Wealth"? It's a good one, BUT a lot of their STR success hinges on self management. Consider self managing. Look up your vacation spot on AirDNA (if I remember right) and see what the ADR/income is for that area. Then analyze your property against these estimates.

12 Reply

Lauren Lockett
OP
New to Real Estate · Grand Prairie, TX · Member since 2023 · 54 posts · 30 votes
1y
Quote from @Jeremy Horton:

How much is your STR making currently? What's the ROI like?
I would consider a pause on STR #2 until STR #1 is operating well. It sounds like it is not doing as well as you anticipated. Quality > Quantity. A lot of people seem to have this obsession with door count or AUM - don't be one of those people. Your goal is likely income and overall ROI. The number of doors is really a meaningless metric.
That being said DSCR loans are the most common - but generally the rates/terms will not be as good as a conventional loan. So you need to underwrite even more conservatively. So if #1 is not working as well as you thought with a conventional then #2 would likely be worse with a DSCR loan. When did you buy this property? What's your interest rate?
Have you read "Short Term Rental, Long Term Wealth"? It's a good one, BUT a lot of their STR success hinges on self management. Consider self managing. Look up your vacation spot on AirDNA (if I remember right) and see what the ADR/income is for that area. Then analyze your property against these estimates.

Thank you so much for your input Jeremy!!
It's currently making about $300/night. I could actually probably do a better job of tracking this as well as I still have to pay taxes from that number along with the vacation PM so 15% goes to PM and 13% to STR taxes, so it makes about $244.80 night and averages maayyybe $979/month. Ouch, that hurts to type lol!
I bought the property in December 2024 at a 7% interest rate. This is good to note on the DSCR loan. How do I underwrite more conservatively and what does that look like? Does that look like buying at a lower price point or less rooms? (Sorry, new to this and just want to keep with you!)
Yes I've read that book and really enjoyed it! Even did the STR bootcamp with the authors and other STR hosts. Ok, this is so good to hear, so maybe I go back to self managing? I just felt like I wasn't producing anything and that I should get help hence working with vacation PM for the last 2 weeks. Maybe I just need to wait for another few months for bookings to start going up? Yup, the ADR for this area is higher per AirDNA, but I I haven't looked since this summer and before I purchased. I will go back and do that!
This is such great advice, thank you!!
0 Reply

John UnderwoodPro Member

Investor · Greer, SC · Member since 2014 · 13k+ posts · 17k+ votes

1y

So what is your NET income (or projected Net)? Especially after paying for all the training and services you bought.

I would make sure this property is making good money before buying something else that isn't performing like you hoped.

STR's are not performing great in many markets right now, so the timing might not be great for the first property and definitely not good to force a second one right now.

There are markets that are performing better than others but AI keep hearing that many STR owners are struggling right now.

If you are going to buy a second property, make sure you run the numbers and be conservative with them to make sure you have a buffer.

Maybe consider a smaller cheaper property for your next one that appeals to the bargain shoppers and smaller families.

I also love my LTR's that I buy cheap and fix up. It is very good to diversify via different property types, different markets etc.

People always need a place to live but may dial back vacations if there is financial uncertainty in their personal lives.

6 Reply

Lauren Lockett
OP
New to Real Estate · Grand Prairie, TX · Member since 2023 · 54 posts · 30 votes
1y
Quote from @John Underwood:

So what is your NET income (or projected Net)? Especially after paying for all the training and services you bought.
I would make sure this property is making good money before buying something else that isn't performing like you hoped.
STR's are not performing great in many markets right now, so the timing might not be great for the first property and definitely not good to force a second one right now.
There are markets that are performing better than others but AI keep hearing that many STR owners are struggling right now.
If you are going to buy a second property, make sure you run the numbers and be conservative with them to make sure you have a buffer.
Maybe consider a smaller cheaper property for your next one that appeals to the bargain shoppers and smaller families.
I also love my LTR's that I buy cheap and fix up. It is very good to diversify via different property types, different markets etc.
People always need a place to live but may dial back vacations if there is financial uncertainty in their personal lives.

Thanks so much John! My projected net income is $32,000. And I will definitely do that and follow through on ensuring this property is good to go before going to the next. I so wanted to stick to my timeline since I feel so behind on my real estate goals, but completely understand the foundational work is important before moving to the next one. In following the forums, I'm understanding what you're saying more and more on the markets right now for short term rentals.
Ok, I'll be sure to be more flexible in what happens next! I'll also look into LTRs and buying less expensive properties for the next round after getting this property stabilized. Thank you again!
2 Reply

Trent Reeve

Atlanta · Member since 2022 · 706 posts · 634 votes

1y

a few things. I love the enthusiasm, but i think the goal of 4 STR's in 4 years without a lot of investment money is a bit too ambitious.

And unless you have a great deal or great property in location with little competition, when you first start your chance of making the most money would be through self-management. There are some good property managers on here that are valuable, but for most of us we self manage to keep that 15-20% in our pockets. Also, do you own the listing the PM is using? if you left, do you lose all the reviews on your property?

It's a bit of a game and you have to play it. I might be in the minority, but you need to get your property to show up in algorithms. Get some friends to stay at your place, put in that new property/first guest discount, get people in there and get some reviews. People dont need to stay at a property with 100 reviews, but I would say you are good once you get at least 5-10 reviews. Make sure your exit process with guests encourages them to post review of your property.

7 Reply

Lauren Lockett
OP
New to Real Estate · Grand Prairie, TX · Member since 2023 · 54 posts · 30 votes
1y
Quote from @Trent Reeve:

a few things. I love the enthusiasm, but i think the goal of 4 STR's in 4 years without a lot of investment money is a bit too ambitious.
And unless you have a great deal or great property in location with little competition, when you first start your chance of making the most money would be through self-management. There are some good property managers on here that are valuable, but for most of us we self manage to keep that 15-20% in our pockets. Also, do you own the listing the PM is using? if you left, do you lose all the reviews on your property?
It's a bit of a game and you have to play it. I might be in the minority, but you need to get your property to show up in algorithms. Get some friends to stay at your place, put in that new property/first guest discount, get people in there and get some reviews. People dont need to stay at a property with 100 reviews, but I would say you are good once you get at least 5-10 reviews. Make sure your exit process with guests encourages them to post review of your property.

Thank you Trent! My thinking on the 4 in 4 was for financing and timing personally. The way both my jobs and my husband's job is set up he gets a Christmas break that makes it convenient and it for us to both take a few tasks on our acquisition checklist and get through closing/underwriting on the same page. We currently have little time, especially during the work week and he also works weekends with an unpredictable schedule. Another thing was buying each year, ideally, was a fall back plan for buying and living in my next investment to continue buying properties should I not achieve other creative ways of buying properties. I don't mind slowing the process but personally I feel behind, also exhausted from my W2s, but willing to work hard for funding for investments and want to if anything get closer to achieving some more financial freedom options for us to build in breaks and time to spend with our boys. For the groups I met at conferences, I thought one a year was going slow but maybe not. I'm gathering from your feedback the most important part is first ensuring the property is profitable and stable first and that I can definitely agree on and so appreciate this hard truth in what I should do next.
From what you've shared, the earliest I can drop my vacation PM per our contract is November and can see this is a consensus. I was scared I wasn't getting as many bookings in my busy season and now that it's a slower season was sure I would need help, but now understanding it's the current climate along with I can drop my prices and open my calendar, I will certainly drop the PM as advised. And you're exactly right on owning the listing and reviews. It was my main hesitation in going with a PM but I eventually decided I'd rather earn the income then to continue sitting with an empt(ier) listing and eventually said yes.
I appreciate your ingenuity! That's exactly what I'll do. I had a friend reach out this weekend and will go for it! Thank you x100 for these ideas!
1 Reply

Helen Adeosun

Member since 2025 · 37 posts · 20 votes

1y

I'm just getting started myself, Lauren, so I defer to the more experienced and door count heavy investors.

I agree on self managing so you get your margins up and maybe you make it a goal at 4 or more and "stabilization" for the 10-15% property management fee. I'm buying a property a year, but being a little more conscious of financing (FHA, Fannie Mae, seller financing).

When Jeremy says be more conservative in underwriting, I would use AirDNA data (the free version will let you connect your account and measure your property against your market) and assume the worst (a. assume you get less $$ per night, b. assume higher vacancy, assume shorter stays etc.). Also, Airbnb does great marketing but becoming less and less friendly to hosts and taking greater bites of the apple.

STRs are hard to manage and the cashflow seems great but I opt for midterm rentals (MTR) as its less turnover than STR but better cashflow than LTR. I underwrite my property for LTRs just in case we dont get many guests and I have to switch strategies.

I wish you all the best and get creative!

2 Reply

Lauren Lockett
OP
New to Real Estate · Grand Prairie, TX · Member since 2023 · 54 posts · 30 votes
1y
Quote from @Helen Adeosun:

I'm just getting started myself, Lauren, so I defer to the more experienced and door count heavy investors.

I agree on self managing so you get your margins up and maybe you make it a goal at 4 or more and "stabilization" for the 10-15% property management fee. I'm buying a property a year, but being a little more conscious of financing (FHA, Fannie Mae, seller financing).

When Jeremy says be more conservative in underwriting, I would use AirDNA data (the free version will let you connect your account and measure your property against your market) and assume the worst (a. assume you get less $$ per night, b. assume higher vacancy, assume shorter stays etc.). Also, Airbnb does great marketing but becoming less and less friendly to hosts and taking greater bites of the apple.

STRs are hard to manage and the cashflow seems great but I opt for midterm rentals (MTR) as its less turnover than STR but better cashflow than LTR. I underwrite my property for LTRs just in case we dont get many guests and I have to switch strategies.

I wish you all the best and get creative!

Helen! Thanks so much for your feedback. I wish I reached out in the forum before going with the PM! I will most definitely be dropping the PM asap; per our contract the earliest is November. Your strategy is exactly what I'd like to do of buying a property per year via seller financing and/or FHA. How's it going?
Thanks so much for breaking down the conservative underwriting. I will certainly do that for next time and assume worser circumstances along with adding MTR as a strategy. I had a stay for a week from guys working for the city water system and it went really well - my favorite stay of them all! Thanks a bunch and I'm infusing all these ideas now and it's generating more creative ways I've written down! Thank you again!
2 Reply

Chance House

Lender · Member since 2025 · 15 posts · 6 votes

1y

Hi Lauren -

A DSCR loan is very likely your best and most viable option to finance your next door. While others have offered some great strategic advice on timing your next investment, I would add that a good lender is only going to finance a deal that they think will be profitable for you. That is to say, I wouldn't be dissuaded from looking- and would definitely speak with a lender to understand what terms would be available to you.

1 Reply

Lauren Lockett
OP
New to Real Estate · Grand Prairie, TX · Member since 2023 · 54 posts · 30 votes
1y
Quote from @Chance House:

Hi Lauren -
A DSCR loan is very likely your best and most viable option to finance your next door. While others have offered some great strategic advice on timing your next investment, I would add that a good lender is only going to finance a deal that they think will be profitable for you. That is to say, I wouldn't be dissuaded from looking- and would definitely speak with a lender to understand what terms would be available to you.

Thanks Chance! Appreciate the feedback on next steps and would that could realistically look like. I haven't started those conversations yet, but will certainly do that. One thing I hesitate with DSCR loans is (maybe my preconceived idea of them and lack of knowledge) are most of the approved loans with properties that are already short term rentals and show a history of short term rental returns? I typically look for a property that is not an STR first. Either way, I will look more into this to stay open to what's next. Maybe there is something new I can bring to the property!
0 Reply
Chance House
Lender · Member since 2025 · 15 posts · 6 votes
1y
Quote from @Lauren Lockett:

Quote from @Chance House:

Hi Lauren -
A DSCR loan is very likely your best and most viable option to finance your next door. While others have offered some great strategic advice on timing your next investment, I would add that a good lender is only going to finance a deal that they think will be profitable for you. That is to say, I wouldn't be dissuaded from looking- and would definitely speak with a lender to understand what terms would be available to you.

Thanks Chance! Appreciate the feedback on next steps and would that could realistically look like. I haven't started those conversations yet, but will certainly do that. One thing I hesitate with DSCR loans is (maybe my preconceived idea of them and lack of knowledge) are most of the approved loans with properties that are already short term rentals and show a history of short term rental returns? I typically look for a property that is not an STR first. Either way, I will look more into this to stay open to what's next. Maybe there is something new I can bring to the property!

Hi Lauren - you do not necessarily need to look for a property that has historic STR returns, but different DSCR lenders will have different criteria with respect to qualifying property income. For example, my firm will use third-party projections from providers like AirDNA or BNBCalc to qualify STR income and calculate a DSCR. It will ultimately come down to the individual lender and their respective underwriting guidelines.
0 Reply

Rick Pozos

Wholesaler, Rehabber and Landlord · San Antonio, TX · Member since 2014 · 2k+ posts · 2k+ votes

1y

Hey @Lauren Lockett as mentioned above, you need plenty of stays for the algorithm to see that you guys are great. That also means plenty of reviews. I know this might sound tough, but maybe until the end of the year, lower your rates for during the week to $200 or $250 per night. Get some traffic. Make sure the day before checkout you let the guests know that you would appreciate a 5 star review of the property. Ask for a great review.

3 Reply

Lauren Lockett
OP
New to Real Estate · Grand Prairie, TX · Member since 2023 · 54 posts · 30 votes
1y
Quote from @Rick Pozos:

Hey @Lauren Lockett as mentioned above, you need plenty of stays for the algorithm to see that you guys are great. That also means plenty of reviews. I know this might sound tough, but maybe until the end of the year, lower your rates for during the week to $200 or $250 per night. Get some traffic. Make sure the day before checkout you let the guests know that you would appreciate a 5 star review of the property. Ask for a great review.
Hey Rick! Thanks so much! I appreciate your honesty - this is exactly what my PM advised so I've dropped my prices as of 2 weeks ago since we've partnered. Of course, I'm disappointed but you're exactly right. And thanks so much for the advice on the reviews - that is something I need to do better on and I've added it to my list! Thank youu!
0 Reply

Andrew SteffensBusiness Member

Tampa, FL · Member since 2022 · 3k+ posts · 3k+ votes

1y

I agree with Rick above. I'd probably discount a bit further until you get 5-10 5 star reviews then start inching the price up. That will help get you ranked higher and keep the bookings rolling in. Good luck and good job!

[email protected]813-563-0877

Vacation Rentals of Florida53 Reviews

Website View Page

2 Reply

Lauren Lockett
OP
New to Real Estate · Grand Prairie, TX · Member since 2023 · 54 posts · 30 votes
1y
Quote from @Andrew Steffens:

I agree with Rick above. I'd probably discount a bit further until you get 5-10 5 star reviews then start inching the price up. That will help get you ranked higher and keep the bookings rolling in. Good luck and good job!

Thanks so much Andrew! I will get right on that and consider going a bit further too! Thank you!!
0 Reply

Patricia Andriolo-Bull

Member since 2022 · 527 posts · 413 votes

1y

What others have said. Goals are targets and need to be reevaluated based on where you are. I would slow down and do this one well and definitely dump the PM.

1 Reply

Lauren Lockett
OP
New to Real Estate · Grand Prairie, TX · Member since 2023 · 54 posts · 30 votes
1y
Quote from @Patricia Andriolo-Bull:

What others have said. Goals are targets and need to be reevaluated based on where you are. I would slow down and do this one well and definitely dump the PM.

Thank you! Dumping the PM is priority and re-evaluation is so important. Thanks Patricia!
0 Reply

Jay HurstBusiness Member

Lender · Dallas, TX · Member since 2017 · 1k+ posts · 1k+ votes

1y

Quote from @Lauren Lockett:

I wanted to be transparent and share where I’m at in my journey — hoping this helps someone else, and also opens the door for advice and connection.

After a year and a half of analysis paralysis, I finally launched my Texas STR this summer. I put alot into it (and maybe haven't done all I can yet, but still!):

Purchased with a conventional loan (pretty sure I’m maxed out on financing this way now, especially with little income to show).
Invested heavily up front: conferences, bootcamps, small groups, professional designer for full setup, studied comps, professional photographer, priced strategically/dynamic pricing.
I work two jobs (foreclosure auctions + hotel), so hospitality is something I genuinely love and plan to stick with long-term.
Goal = 4 STRs in 4 years (buying one each year or so).

The reality so far:

1 booking in June, 2 in July, 2 in August — all through Airbnb. (Listed on several sites, but most traffic came through here)
Just partnered with big Vacation Rental PM last week. Booked each weekend in September, but at $340/night (well below my target for my 5 bedroom amenity packed home) and with my calendar wide open for future events I would have normally raised prices for.
Honestly, I don’t love the experience with vacation rental PM so far. I was expecting more value for 15% than lower rates + open calendar.

Where I need advice:

With my little income from the investment property (so far) + personal debt-to-income ratio, I'm pretty sure I'm tapped out for another conventional loan. For those who scaled past property #1 or #2, what creative financing strategies worked best? (Private lenders, partnerships, subject-to, DSCR loans?)

What has worked best for you when bookings start slow, even with professional design and good reviews? Given the current climate, how do you stay creative or is this something you're used to? Any advice for improving bookings without racing to the bottom on nightly rates?
And longer-term, do you have or know of any STR owner groups (local or virtual) that meet regularly to share referrals, vendors, and support? I'd love to join or even help build one.

I want to buy STR #2 this December to stay on track for my 4-in-4 goal. Right now it feels like I'm moving slower than I'd hoped — but I still love hospitality, believe I can get there with the right adjustments and I want to find a sustainable path forward.

Would love to hear your experiences, what’s worked for you, or even hard truths I should consider. And if you’re also building in the STR space, I’d be glad to connect.

—Lauren

I have new investors that call me and excitedly tell me they have a plan to buy 20 home in the next 2 years or whatever it might be. and that is great to have goals. But, you have to understad whjat the heck you are doing before you get your self in to deep that in all falls in on you.

Do not buy a second property just to stay on a schedule that you created without any experience. Get your first property operating at a profit before even think about buying another one. There is very little scale to owning two properties so very little advantage but double the risk. If both properties are losers, then you are in danger of losing the both and torpeoding credit.

Hurst Real Estate, INC4.987 Reviews

Website View Page

5 Reply

Lauren Kormylo

Rental Property Investor · Phoenix, AZ and Rehoboth Beach DE · Member since 2019 · 1k+ posts · 1k+ votes

1y

I agree with others, don't buy another property until you get this first one figured out. Bookings are often slow when you first start out, but you want to decide whether you made a mistake with this one. Is summer the high season there, or will winter bookings be better?

Go to Airbnb, Vrbo, and the PM's site if they have one, search on their maps in "incognito mode" to see if your place is showing up to guests like it should. Try putting in dates in the calendars as if booking, see if everything is working. If not, contact the platform. Make sure your calendar is open far enough ahead. I've seen some hosts who only have it open 3 months ahead, and a large place like yours needs to be open 9 months to a year ahead. You're catering to extended families who have to coordinate vacations far in advance.

I hope those guests who stayed gave you reviews, and 5 star ones at that? I don't have to ask for reviews, because I have one of these magnets on the fridge, which really encourages guests to give them automatically. https://www.etsy.com/listing/1180679049/short-term-rental-ra... And after 3 years of hosting, I have all 5 star reviews.

Try joining local Facebook groups for STRs or vacation rentals, where guests are posting requests for places to stay. Spend some time searching with different wording on FB for vacation rental groups in Texas and also in your town or area. If a group lets you create a post advertising your place, do that. And also respond to guests' requests if your place is a good fit. I've gotten some guests from those pages, and it increases your visibility so that even if someone doesn't book then, they might remember you in the future. You might also find a local group for hosts on FB, I have one in my area.

Do you allow dogs? I started out not allowing them, but dramatically increased my bookings when I reversed that (I still don't allow cats). Now 30-40% of my guests bring dogs. I charge $150 per stay for one or two dogs (and will allow a third if they ask), and $30 of that goes to my cleaner for the extra work. That is an additional profit center for me, I make money on it.

7 Reply

Michael BaumPro Member

Olympia, WA · Member since 2016 · 8k+ posts · 7k+ votes

1y

Hey @Lauren Lockett, gratz on getting in the game.

I think you have a good idea of how to move forward...slower than you want but more solid. Don't want to grow too fast and then lose it all.

Are you on VRBO? Remember that you own a STR, not an AirBNB. AirBNB is a platform.

3 Reply

Josh Ball

Real Estate Agent · Louisiana · Member since 2017 · 214 posts · 146 votes

1y

Don't rush into a 2nd property. It is best to wait for an opportunity to come rather than jumping into something to meet a deadline or goal.

2 Reply

Mike GrudzienPro Member

Lender · Eugene, OR · Member since 2019 · 2k+ posts · 1k+ votes

1y

Great advice from all the PROS on this Forum. Read and learn.

1 Reply

V.G JasonPro Member

Investor · Member since 2022 · 3k+ posts · 3k+ votes

1y

Quote from @Lauren Lockett:

I wanted to be transparent and share where I’m at in my journey — hoping this helps someone else, and also opens the door for advice and connection.

After a year and a half of analysis paralysis, I finally launched my Texas STR this summer. I put alot into it (and maybe haven't done all I can yet, but still!):

Purchased with a conventional loan (pretty sure I’m maxed out on financing this way now, especially with little income to show).
Invested heavily up front: conferences, bootcamps, small groups, professional designer for full setup, studied comps, professional photographer, priced strategically/dynamic pricing.
I work two jobs (foreclosure auctions + hotel), so hospitality is something I genuinely love and plan to stick with long-term.
Goal = 4 STRs in 4 years (buying one each year or so).

The reality so far:

1 booking in June, 2 in July, 2 in August — all through Airbnb. (Listed on several sites, but most traffic came through here)
Just partnered with big Vacation Rental PM last week. Booked each weekend in September, but at $340/night (well below my target for my 5 bedroom amenity packed home) and with my calendar wide open for future events I would have normally raised prices for.
Honestly, I don’t love the experience with vacation rental PM so far. I was expecting more value for 15% than lower rates + open calendar.

Where I need advice:

With my little income from the investment property (so far) + personal debt-to-income ratio, I'm pretty sure I'm tapped out for another conventional loan. For those who scaled past property #1 or #2, what creative financing strategies worked best? (Private lenders, partnerships, subject-to, DSCR loans?)

What has worked best for you when bookings start slow, even with professional design and good reviews? Given the current climate, how do you stay creative or is this something you're used to? Any advice for improving bookings without racing to the bottom on nightly rates?
And longer-term, do you have or know of any STR owner groups (local or virtual) that meet regularly to share referrals, vendors, and support? I'd love to join or even help build one.

I want to buy STR #2 this December to stay on track for my 4-in-4 goal. Right now it feels like I'm moving slower than I'd hoped — but I still love hospitality, believe I can get there with the right adjustments and I want to find a sustainable path forward.

Would love to hear your experiences, what’s worked for you, or even hard truths I should consider. And if you’re also building in the STR space, I’d be glad to connect.

—Lauren

The fact that hospitality is what you like you'll be fine with this.

The other stuff though you really have to keep trim-- 4 in 4? What is this, just a cliche saying you came up with? Starting focusing on the inputs, which is removing you from the outputs/"goals".

My question is that what are you looking to do here? Is it quantity or quality?

If it's the former, stretch yourself but in life you'll learn you reach, they teach. If the latter, forget the 4 in 4, master the craft, and invest as you can and do it with the preparation side not prediction side(i.e targets). That may be 8 in 3, that may be 3 in 8. It doesn't matter, what matters is the inputs.

And I think the inputs shouldn't be necessarily creative financing, but how to make your income higher to defeat a DTI issue and create more income from your current assets.

2 Reply

Chris Howell

Tulsa ok · Member since 2025 · 84 posts · 60 votes

1y

@Lauren Lockett

Congratulations On taking the leap first one is the scariest one.

$980 per month for a 5 bed seems very low and like you will be losing alot of money ounce you add in electricity, water, sewer, internet and your taxes and insurance and debt service. I would try and see how to decrease vacancy rate before looking at buying another property Increase your GOI. If you have it rented 15 days at 225 compared to 8 days at 300 which gives you more revenue and higher cashflow. Give your customers more for less and establish a good reputation and then increase you rates.

4 Reply

Diego AlvaradoBusiness Member

Real Estate Agent · Flower Mound, TX · Member since 2016 · 294 posts · 139 votes

1y

Hi @Lauren Lockett

I love your enthusiasm and goal settings. You have got very good advice here already, but I want to reiterate that until you don't have everything working well on top of your head, hold in buying another one.

When you bought your property did you have a defined Occupation Rate and Price per Door? Did you have the right support team?

For buying, there are options, but you should show the track record with your current one.

Few things I would tell you to do:

- Have a mentor / coach. This person has to be an experience STR investor, it won't work if he/she is someone that hasn't done it themselves.

- Create your support team, in your case you will need a good agent to guide you on the process and identify the key metrics for your properties. Then expand from there.

- Top of mind number, it means that if someone ask you your Gross and Net Income you have the current number and your forecast numbers. What you wrote it seems that it is a bit messier so I will encourage you to sit down and work on that.

Best of luck and if you even want someone to talk with, reach out.

[email protected]214-833-8911

Alvarado Realty Group520 Reviews

Website View Page

2 Reply

Josh L.

USA · Member since 2023 · 145 posts · 84 votes

1y

@Lauren Lockett Great post and discussion. I’ve seen an approach where having an honest conversation with the property managment about bookings can make a big difference. I’ve also seen switching property managment lead to dramatic improvements if first option doesn't work.

1 Reply

Henry Lazerow

Real Estate Agent · Chicago, IL · Member since 2017 · 2k+ posts · 2k+ votes

1y

I self manage my Airbnb even not being physically there it’s easy. I use Turno for cleaners and a handyman by text. You need self manage to really net profit significantly especially with higher rate debt. Many airbnbs have high vacancy depends on area and how much competing supply so may actually be more profitable as a LTR. Mine in Chicago runs around 80-90% occupied but it’s one of cheapest 2/1s in area so special. Average $120-180 a night, I use Airbnb algorithm for price setting. LTR is $1700 of other units in building.

3 Reply

Laura Winters

Member since 2021 · 124 posts · 87 votes

1y

You are in Texas and got 5 bookings during the peak season. Many people think too much and run too many analyses, and their plan is way above reality. I think you need to work for someone (doesn't matter what, cleaning, PM, customer service, literally whatever) and actually get the taste of STR before buying all these properties. You said you got most traffic through Airbnb, but you have 0... traffic?

1 Reply

Anja Schaer

Investor · Atlanta · Member since 2022 · 146 posts · 72 votes

1y

Hey Lauren, Congrats on getting your first STR up and running! My take: focus on stabilizing this property before buying #2. Self-managing can help keep margins higher, at least until it's more established. Build momentum by offering temporary discounts, pushing for reviews, and making sure your calendar is open far out for bigger groups. For financing, DSCR loans work, but underwrite conservatively with lower ADR and occupancy so you're safe. Don't stress the timeline - better to grow slow and solid than fast and shaky.

1 Reply

Freba A.

Member since 2025 · 6 posts · 4 votes

1y

Hi Lauren! That's such a great achievement to have purchased your first STR property. It's really unfortunate that it isn't performing to your expectations. I've reviewed hundreds of deals and STR homes, so I am happy to take a look and offer my feedback. Feel free to send me a DM if you're interested! I wish you the best of luck :)

1 Reply

3 Months into my newest Airbnb...still optimistically looking ahead! Thoughts?

3 Months into my newest Airbnb...still optimistically looking ahead! Thoughts?

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