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All Forum Posts by: Blake King

Blake King has started 27 posts and replied 148 times.

Post: Blue Ridge, GA

Blake KingPosted
  • Investor
  • Seattle, WA
  • Posts 155
  • Votes 34

It does not seem to let me link it here, but i found a lot of help and value from Robuilts recent video titled "The harsh truth about the collapse of short-term rentals". There is some seriously good and free knowledge bombs dropped in the video, and they do discuss Blue Ridge in the video. Thanks @Avery Carl for always sharing your invaluable wealth of knowledge. 

Post: Property management software for both STR and MTR?

Blake KingPosted
  • Investor
  • Seattle, WA
  • Posts 155
  • Votes 34

For my short term, I use Hostaway and love it. They have features for both STR and MTR. It can be rather expensive / cost prohibitive at just 1 unit, but it still can be very beneficial.

Post: What tech do you use to manage your STRs?

Blake KingPosted
  • Investor
  • Seattle, WA
  • Posts 155
  • Votes 34

I only manage one cabin, but I use Guesty for hosts, Pricelabs, and remote lock. 

Hey Everyone! 


Really working towards my 3rd deal. I currently live full time in a van, and travel full time, so i am looking for another remote investment. I currently have a Long term rental in WA, and a STR in TN. I have yet to narrow down a strategy / market for my next deal, should I try to get pre-qualified to know what i can even be looking at? How should i go about getting prequalified without knowing what market im looking at, and does it matter?

Thanks!

Quote from @Chelsea Mastin:

Hi @Tyler Work! I would be interested to know what automation tools you are using. 


 I see that there was no response to this, and i happened to stumble upon this thread, so i thought i would send out a couple options. I use Guesty for automated messaging, price labs for pricing, and i just started using an AI bot to respond to one off questions, called "guest Guru" too early to tell if it will help, but this is what i would use if co-hosting another property. 

Post: Great Smoky Mountains

Blake KingPosted
  • Investor
  • Seattle, WA
  • Posts 155
  • Votes 34

This is very late but i found this searching for something else, so i thought i would reply. I bought from The Short Term shop and @Luke Carl who helped out a ton!

Post: New Short Term rental host, Am i doing this right?

Blake KingPosted
  • Investor
  • Seattle, WA
  • Posts 155
  • Votes 34
Originally posted by @Rolly Weaver:

How much lower are the bookings?

We purchased 9 cabins that were rented before and the previous guests always want the same prices and everything the same as before….you’ll find your own customers at your price and setup. 

Airbnb and VRBO can sinc up automatically. 

And Airbnb has their own price adjusting tool that can raise and lower pricing depending of demand. 

Some of them are like $150 / night lower than i want to have them at... Most of them are around $50 less per night than I plan to book them out. At this point, if people dont respond, ill take it as a cancellation and hope more people dont respond :D Also 9 cabins is crazy, rock on!

Post: New Short Term rental host, Am i doing this right?

Blake KingPosted
  • Investor
  • Seattle, WA
  • Posts 155
  • Votes 34
Originally posted by @Account Closed:

@Blake King PriceLabs more than pays for itself (even with just one property). And it gives you great insight into the market if you make use of it. I combine that with Hospitable to automate and manage my messages…and automatically offer guests extra days on either of their trip if the nights are unhooked. That extra revenue pays for that subscription.

As for the current bookings, I’ve inherited a few properties like that. It bugged the heck out of me having guests staying there for half a year at rates well below market. I honored the bookings and am now we’ll past that phase. They said, the rates I honored were well below market and we renovated the property. If I had a “do over”, I would’ve canceled them and let new bookings come in. The rates we charge now are much higher and the same folks would not be booking.

Thanks Scott, that is a super cool call out! how do those extra days work for letting your cleaners know? i really like that idea though, and am definitely going to check that out! Thanks man.

Post: New Short Term rental host, Am i doing this right?

Blake KingPosted
  • Investor
  • Seattle, WA
  • Posts 155
  • Votes 34
Originally posted by @Jimmy Woodard:

I personally use Wheelhouse but have heard great things about Pricelabs as well. I have no complaints with the cash flow and cash on cash return I'm seeing and I know I couldn't have done this without a pricing tool. Systems that give me peace of mind are more important to me than controlling every aspect of my business. 

I love that, thats exactly what i needed to hear, i want to make this as automated as possible, and i know a computer can do things a heck of a lot better than i could with a calculator, but i also dont want to put all my trust and hope in one place. Ill stick it out and watch how it goes closely, and go from there. I really appreciate your response, so thank you!