All Forum Posts by: Annie Seurer

I personally like Kissimmee because it can be very lucrative but it can be a difficult market - you'd have to knock the design and amenities out of the park, because if you don't, there are thousands of rentals that do and you'll fall to the wayside. In my experience, we found 5-8 bedrooms to perform the best. 

I'd personally choose the Tampa/Clearwater/St. Petersburg area over Ft. Myers. 

North Carolina is growing and a great state to invest. I'd look into Raleigh and Asheville (and surrounding towns - I personally love Boone and Bryson City). Everyone will have their own opinion on this but you ultimately need to choose what you are most comfortable with. Are there states/cities you like to vacation to? Start there. 

How you build out your STR will provide the most margin of safety in the majority of markets. If you have any questions regarding design, renovation, or guest experience - feel free to reach out.

I don't have what you are looking for but hope someone in a similar situation can give you more insight. Going over your numbers, have you considered a long term rental instead? Don't get me wrong, I love STRs, but if your place is average, you plan to keep it average, you may be better off just getting a long term renter and make out better. 

If you do decide to go the STR route, how many beds do you plan to have? More heads in beds = higher ADR. Who are your Guests and what do they do in the area? Are there any low cost amenities you could include to make your place stand out, ie firepit, games, etc.? It seems most STRs in the area don't have professional photography - an easy way to stand out. Unfortunately, it's hard to be profitable in the STR world without 'going all in' nowadays!

BiggerPockets Community,

I work with a nationwide design and renovation company specializing in short-term and mid-term rentals. Our clients include Arrived, Overmoon, and Techvestor, but we also cater to smaller scale investors like you, so you can compete with these larger funds! On average, our clients see a 40% increase in ADR, a 64% rise in occupancy, and over $50,000 in additional annual revenue. The numbers don't lie—if you want the best performing STR, you need to excel in design and amenities, and that's where we specialize!

If you are buying an STR or feel your STR needs a refresher, please contact me for a free discovery call. We'll chat about your project, budget, and see if we are a fit. Our services include design, Matterport, renovations, photography, final clean, supply stocking, and more. We are a true one-stop shop.

I look forward to working with the top-notch investors in this community!

[email protected]
952.846.9179
SCHEDULE A DISCOVERY CALL

@Ruslan Kudlai if you have any other projects, please feel free to reach out. I work for a design and construction firm that specializes in short term rentals. We have completed over 500 projects and have great references and case studies. 

Hey William! 

If you plan to convert any of your investments into an STR or Mid-Term Rental, I'd be able to help. Feel free to reach out if that's the case.

I'd consider using the services of STR Search. I'm not personally associated but know the folks and highly recommend them. They have purchased over 150 STRs and they are very knowledgeable and data driven. https://www.strsearch.com/

Hi Helen!

+2 Florida. Also some great markets in NC, and NC is growing tremendously. 

Where do you and your husband like to travel? I always think that's a great place to start when looking to invest out of state.

I also agree with what most said - design, amenities and furnishings will drive revenue. You can no longer skimp on these and design the STR as if it were your home - guests want a special experience.

As some have already mentioned, a blend of automation and personal interaction appears to be the key. Utilize a combination of both to maintain that truly personal touch. Automate confirmations and standard messaging using a robust CRM system and communication platforms. However, ensure to personally reach out to every guest 24-48 hours after booking. Introduce yourself, inquire if they have any questions regarding their reservation or the property, gather information about their stay, and inform them of any pertinent details. This simple touch sets you and the guest up for success! Also, respond to every inquiry in a timely fashion. Employing this approach, the fund I previously worked for achieved a 4.93 rating.

I would not skimp on design, construction, and procurement. Use a professional that buys the right furnishings (nice, but not too nice), and a design company that knows and specializes in STR's. Unfortunately, no longer can owners do the bare minimum and expect good returns. If you really want to outperform your competition, look to amenities and stand out in the crowd. There are a few companies that do everything for you, from design, procurement, construction to furnishing the house. Feel free to reach out for more info and good luck!