All Forum Posts by: Danae Pitcher

Great ideas @Garrett Brown!  I bet you were floored when the person ordered every package you had to offer!! Lol.  I would imagine things that are skewed towards whatever holiday is coming up would be big sellers too.  For instance - Easter baskets, Halloween candy, fun craft beers for St Patty’s Day, tons of options for Valentine’s Day, small tree and decor set up for Christmas, etc.  Endless options for sure.  

@Michael Baum Hi Michael. I hope you have a great holiday! You might need a Florida STR so you can hit all of the seasons. 😀

@Andrew Steffens sounds like it’s going great so far but I do agree that pricing is key this year.  

How is everyone seeing the holiday bookings this year as compared to last year?  Are people holding on to their money or are they feeling good about the future?  We keep seeing conflicting views but my personal experience with buyers indicates that the outlook is positive.  

It seems like if you are only negative $100 a month, that’s only $1200 a year and surely your equity would easily outpace that.  You mentioned homes were going quickly.  There has to be a reason for that.  I would not be at all afraid to take a small monthly loss that could be offset by expenses for the prospect of equity gain.  Just my 2 cents.  :-).  Good luck on your investment.  

I have been selling in the STR market (Kissimmee & Davenport Florida) for over 20 years now - back when the first short term rental developments were just being built. While it is true that our market is saturated, many of my owners are still doing well, even the ones who purchased post pandemic. Back when these STR first started out, many people didn't even know about them. Families were still staying in hotels, not aware that for around the same price, they could be in a private home with a pool. It took awhile to catch on, and it was the likes of airbnb and VRBO that took this concept to a new level with global exposure. Now pretty much everyone has heard of and probably has used at least one of those booking platforms. It only stands to reason that more and more investors jumped into the STR pool in the most popular tourist destination in the world - vacation rentals near Disney and Universal theme parks. Yes there are tons of vacation homes in the area, but too many of them have not been updated and as a result, they either don't rent or they have to cut their rates in order to attract guests. My owners who have updated their homes with modern furniture packages and highly themed rooms, along with a nicely equipped game room do much better than those who do nothing to the home and hope it will attract some guests. These days, in this market, it's essential to have a home that stands out. If you do that, you have a much better chance at having a successful investment. It is also important to keep realistic expectations. These homes are businesses, and there is a ramp up period with any business. It takes awhile to get reviews, gain traction, get repeat guests, word of mouth from satisfied guests, etc.

Hi Steve - I have worked in the vacation home market in the Orlando area for 20+ years and would be more than happy to assist you.  I work almost exclusively with investors like yourself and would welcome the opportunity to speak.  

In the Orlando market, my buyers still do well even with the higher interest rates.  They are putting around 25% -30% down and as long as you purchase in an area with a reputation for high occupancy and above average ADR's, along with choosing a management team that will market your home tirelessly, you can come out just fine.  Best of luck to you on your search. :-)

@Matthew Paul As a Realtor, I have never cold called a FSBO for the very reason you mentioned here in your post. I don't like the thought of having to solicit listings and have never done so. I'm not experiencing much of a slow down in my market, even with the interest rates being higher. I think even if we do have a bit of a correction in our market, it will still stay relatively strong and you should have some takers on your house soon. If the agents have buyers, let them bring them to you. I'm sure you would be willing to pay a commission if they brought you a qualified buyer, so it shouldn't matter to them whether or not you are selling By Owner. Good luck with your sale. :-)

@Daniel Dass Getting with the right team from the start is key to having a successful STR. You will want a Realtor who is looking out for your well being and not trying to sell you the most expensive property and a property management company who is honest and has a track record of high performance in rentals - both booking percentages and rates. Over my 20+ years in the STR business, I have worked with hundreds of Canadians and it is a very easy transition. Our market is a lot less expensive than yours as well, so you get more bang for your buck, so to speak. Don't be afraid to jump in, but make sure you have a good support system around you.