Want to meet STR folks that want to create unique experiences

[Suraj Guptha]

I want to network with other people on here that want to create unique STR experiences. Think a tree house, a lake house, a barn, etc. I am more intent on creating the unique experience and feel creating the unique experience will bring in the money. Anyone else have similar goals ?

[Paul Sandhu]

My places are decorated like Hugh Hefner's mansion.  My biggest house has a jacuzzi on the 3rd floor and a kegorator in the laundry room.  My other big houses have an outdoor fire pit or horse shoe pit.  My tenants are ruffians.  They drive jacked up 4x4s, have neck tats, smell like diesel fuel and chew tobacco in their sleep.  I have to be a bigger ruffian than them.  That's why I box and lift weights.  Tried doing Krav Maga training with my wife, but that lasted all of 10 seconds and she was done with it.

[Rohin Dhar]

I have similar goals of creating unique properties, it makes it much easier to stand out.

However, as I look back at our small portfolio, a lot of the unexpected gains have been through price appreciation.  Price appreciation is likely to be much stronger for things that are "real estate" (ie real homes that are properly titled) versus "personal property" (ie something like a treehouse or barn). 

So you might make more on the STR market with a treehouse or yurt, but your generic 3 bedroom in a good market might be what creates long term wealth!

[Paul Sandhu]

Originally posted by @Rohin Dhar:

I have similar goals of creating unique properties, it makes it much easier to stand out.

However, as I look back at our small portfolio, a lot of the unexpected gains have been through price appreciation.  Price appreciation is likely to be much stronger for things that are "real estate" (ie real homes that are properly titled) versus "personal property" (ie something like a treehouse or barn). 

So you might make more on the STR market with a treehouse or yurt, but your generic 3 bedroom in a good market might be what creates long term wealth!

 You won't realize the gains of price appreciation until you sell the property.  Then you won't make any revenue from rent since you no longer own it.  But I suppose with price appreciation you can use the property as collateral for a larger loan to purchase another property. 

It's what I'm trying to do for a $2000 shotgun I want.  I win piddly .22's and handguns and have no use for them.  So I wholesale them to a committee I'm on that involves guns.  I'm trying to win enough piddly guns so that I can get the $2000 shotgun without paying for it.  That's like winning 5 or 6 push mowers and trading them all in on a riding mower.

[Suraj Guptha]

Originally posted by @Rohin Dhar:

I have similar goals of creating unique properties, it makes it much easier to stand out.

However, as I look back at our small portfolio, a lot of the unexpected gains have been through price appreciation.  Price appreciation is likely to be much stronger for things that are "real estate" (ie real homes that are properly titled) versus "personal property" (ie something like a treehouse or barn). 

So you might make more on the STR market with a treehouse or yurt, but your generic 3 bedroom in a good market might be what creates long term wealth!

That's a great point! My currently portfolio includes cash flow + price appreciation. I want to acquire more that meet the same criteria but they are reducing in the WA state area. I figured a good STR might create a good amount of cashflow, probably higher than the long term rental properties in WA state. I guess if a property generates enough cash, it makes it a good prospect to sell to someone else? I want to add 1 STR to my portfolio to diversify my investment too.

[Amit Desai]

I am interested in this unique exp. I already have on in FL but would like to explore more.

Thanks

[Rohin Dhar]

@Suraj Guptha yep, a good STR can generate both appreciation and cashflow, but it's not easy to find. 95% of the ones I look at won't cashflow, or short term rentals are prohibited in the area so it's a non-starter. So just takes some time to find a good one! This is definitely the case out West where I've invested so far. It seems like it might be easier in some of the markets in the South, but i'm less familiar with those areas.

[Jessie Leonard]

I think 

[Jessie Leonard]

Boy that didnt work! Your on the right track for higher rentals. Think out side the box, for different outdoor experiences... Be creative! Hang In there...