All Forum Posts by: Anand S.

Why OBX? Seems like there would be better options at that price point.

Great job. Inspiring to see others take control of their financial freedom. 

What I like the most is your mastery of decor and marketing. Did you decorate and shoot your homes yourself? 

I would personally not make any major financial decisions based on how well the homes cash flow during this time. This is definitely an anomalous period. I see the same dramatic increase in cash flow that you do and would love to acquire a few more STR's along with a new Ferrari but I need more data to feel secure.

Other than compensation to remedy damages, you're not going to get anything for "throwing parties" or "drug use". Trust me, I've tried. I even have a clause in my house rules stating that if The Authorities are called, the guest forfeits their entire deposit. Problem is, AirBnB holds the deposit and will only release it to remedy damages. 

I am located in South Florida but we get lots of guests from Europe, South America and Canada.

I think that's true for the more rural markets but for mine that's an international destination, we'll benefit from the international travelers that were locked out due to covid.

It seems counterintuitive that demand would moderate as people are vaccinated and travel opens up, no? I would expect the opposite. 

I do agree that new guests are trying ABB/HA for the first time. I'm seeing a lot of wealthy folks exploring this category. This is good and bad -- they are bringing their 5-star hotel expectations but thankfully are paying the 5-star rates. 

You were lucky. We didn't have a choice. The government shut us down and then regulated the crap out of us. 

I haven't been around in a bit because I've been so busy meeting the incredible demand we've been experiencing. I increased rates by 50%, increased min stays from 3 to 5 days and decreased occupancy from 14 to 10 (to accommodate the new Covid regulations), and demand is through the roof. No more am I getting folks asking for discounts for longer stays. They just instant book at full price. 

I was expecting to see a turnaround sometime mid-year when the vaccine would be in the hand of most folks. Is everyone else experiencing similar demand? Do you think this is an anomaly and will die down, or do you think this is just the beginning and demand will continue to ramp up as the vaccine is widely distributed? 

I'm doubling rates in May onwards just in case. 

I appreciate your enthusiasm but the reason the region is hitting a record number of visitors is BECAUSE of covid. I was watching a segment on the travel market and they were saying that most folks planning travel for next year are looking for bucket list-type vacations. Everyone is so tired of being cooped up that they are looking to go big. When Covid is on the mend and the market opens back up, it's going to be at the expense of the drive-to markets. I'm not saying you will be empty, but run your numbers based on pre-covid revenues minus some percentage. What you're seeing now is an anomaly, in my opinion. 

In my opinion, these markets experienced a huge demand due to Covid. Most travelers opted for a remote location vs. international and metro's. I would be very concerned that the current numbers will not sustain once a vaccine is available and folks start to travel overseas and to traditional destinations. If I was an owner in the market, I'd be flipping my home before the bubble bursts.