All Forum Posts by: Damian P.

Quote from @Michael Baum:

Yeah, well, too many people come in here thinking that AirBNB is the only viable platform for vacation/short term rentals. I get about 70% of my bookings through VRBO and they have the best guests IMHO. People are often leaving out another (and the first I might add) STR platform and that is a mistake.

 
I wouldn't get too caught up with the fact that a lot of folks use the noun "AirBNB" to refer to their STRs.

It's similar to somebody asking you to "Xerox" them a copy of something way back when, although tons of companies could sell you a copier. It's simply a branding/vernacular sort of thing with a lot of folks in the STR game right now. We are all aware that VRBO also exists. The value in using one over the other, or both, is valuable.

So thanks for your feedback, it's very valuable. As I look to put my first STR on the market, I've wondered the benefits of listing on both AirBNB and VRBO, as opposed to just 1. It seems it's best to list on both?

Quote from @Jon Martin:

Quote from @Michael Baum:

Why does everyone keep calling their STR's AirBNB's. The are short term rentals. Don't forget that VRBO has been around for years and does a huge number of rentals.

 Same reason why people call tissues “Kleenex” or inline skates “rollerblades”. Good branding and right place/time. 

This

Quote from @Bruce Woodruff:

PS - I won't discount my places for longer stays, I don't want longer stays.....14 day max stay, no discount....

Nice. I've seen mostly starting discounts at 1 week+. One I noticed pushed a monthly discount, and yet had rates for 3-4 bedroom which seem to be on the higher end of the market, although they seem reasonable given to cost of homes. My numbers work out really well if I can get occupancy to 80% for $350/night. Won't get there by discounting unless I can raise occupancy.

How many STRs do you own?

Quote from @Luke Carl:

Yes they have it blocked.

Enemy method all day. 

Also, just read your wife's book on STRs. Well done!

Quote from @Luke Carl:

Yes they have it blocked.

Enemy method all day. 

Thank you...have gotten through most all comparable STRs in my area (there aren't that many) and it has me bullish. :-)

Another question: Is the weekly discount pretty common everywhere? I see most everybody in my area gives a 5-25% discount for booking for 7 nights or more.

Hello,

I'm looking at the potential to AirBNB my home, and am doing the manual method of researching my target market. I choose my town, and then am looking at rates/availability of similar sized AirBNBs in my area.

In searching the calendars of competing homes, and I'm wondering if the Host is able to put a limit on how far out people can book in the future? Homes seem to reach a certain date where they are not available for like last half of 2023, all of 2024, etc. For example this home I'm looking at now is booked most of 2022 summer, couple months are slow, Xmas week is booked, Jan-April 2023 is wide open, 11 days in May 2023, but then after an opening from May 31st - June 5th, the ENTIRE rest of 2023 is "unavailable" or booked. 

Is this host only allowing bookings a certain date into the future, and I'm assuming you can adjust this around a bit? I've seen certain comps become completely "unavailable" like 4-5 months out and it becomes a little tricky gauging future bookings.

Any advice on this topic would be greatly appreciated!! If it helps, my market is not super busy with STRs, but there is definitely a need as the closest hotel is 30-45 minutes away.

Originally posted by @Natalie Kolodij:

Reach out to Mark Canton with Hunt Jackson CPA

 Thank you!

Hello all,

I'm in the need for a solid local CPA to Washington? Would anybody know of a good CPA in the area they can refer me?

My areas tied to the business will be real estate, stock market and crypto investments.

Thanks!

Damian

Hello, 

I'm in the need for a solid local CPA to Washington? Would anybody know of a good CPA in the area they can refer me? 

My two areas tied to the business will be real estate and stock market/crypto investments.

Thanks!

Damian

For all of you real estate investors, who also invest into the stock market…

Was curious your thoughts on Tesla stock (TSLA) at $657/share. Is it overpriced or a good long term buy

Earning today showed $1.1 billion net income up double from $438 million in Q1, and 10x from just a year ago.

At P/E ratio of 662, future earnings are obviously built into the stock price, but it’s hard to not see this company becoming a rocket ship into the next 5-10 years+.

What is everyone’s opinion of TSLA? Overpriced or worth a buy right now? Anybody think there is a price it’s worth a buy?