All Forum Posts by: Abe DeHart

This helps even the playing field for operators that may not be able to self manage. If Marriott manages and standardizes, they will be able to reduce risk for operators and some operators will be willing to take a revenue cut for that. I don’t see it making a huge difference for many of the operators here who are very invested and hands-on with their properties  

Personally I travel 200+ nights a year for work and stay primarily at Marriott’s. I book vacations based on where there are great Marriott properties. This opens up a lot of awesome opportunities for me to leverage their platform and my “elite” status/points. Bonvoy (Marriott’s points program) has ~120M members so it’s got a bit of clout. Many of those folks aren’t avid travelers, but many are, and the people who travel consistently make up a lot of spend. 

@Luke Carl - Same here. Randomly ran across the podcast while changing the oil on my truck, listened to all episodes in late 2017. Closed on 1st rental in June 2018. 29 months later at 44 units. All thanks to BP...

@Luke Carl - This makes a lot of sense. Really like the way you have optimized your time and leveraged the FTE as a personal assistant. Inspiring!

@Luke Carl - This is really helpful. Any idea of the amount of time that the FTE and bookkeeper spend on the STR vs. LTR?

This makes a lot of sense. I'm just surprised there aren't more STR investors out there with 20+ STRs. Good for you for figuring out how to do this!

This makes a lot of sense. I think the model you are pursuing is closer to what I’d like to do - scale enough to get a good PM to manage. There definitely would need to be some creative financing involved to scale this quickly. How much time/week does it take to manage 7 STRs?

I've noticed that many of the seasoned operators on this forum have between 5-10 STRs. @Paul Sandhu notably has 23, and 83 bedrooms (I think?). Is the # of doors a fair assessment, and if so, why not scale further? I'm guessing owners fall in a couple buckets:

- Don't automate and can't handle the repetitive tasks of more than a few rentals (probably not most of the pros here)

- Buy several STRs, achieve financial freedom, and are content to stabilize the properties and cashflow

- Focus on new revenue streams outside of STR

Is there any reason not to scale STRs like LTRs? For context I have 43 LTRs, 1 STR, and a 6 unit STR under contract. It seems like scaling STRs could work as long as you can get help with managing the "details".

Is this on the MLS? I looked for multis after seeing this and didn't find anything on Zillow. Sounds like an interesting property!

Daniel - No, it was a FSBO that popped up last week just off 321. I wasn't specifically looking for something here, but the #s made a lot of sense as an STR. I'd love to hear about the multi in Wears Valley. I'm pretty tapped out, so I will not be competing with you on this one. Do you have STRs in the area already?

Thanks for the input, Justin! I think these units are probably more equivalent to a cabin than a condo or hotel/motel room. Each unit has 2-3 parking spots, it's own ground floor entrance and is a full house, with 1-2 shared walls with neighbors. If vacationers are going to compare these with local motel/hotel options, then I am in trouble. I'm not sure how many $/night I lose with the fact that it has painted walls vs. wood cabin. I'm also wondering if I need to put 6 hot tubs in on the decks each unit has... that will be pricy. 

We are local living in a new construction pool cabin locally for the next few months, so should be able to oversee the LTR to STR transition.