All Forum Posts by: Daniel Denning

I am a Co-host working across the Southeast, specializing in beach (i.e., Destin, Myrtle Beach, etc.) and mountain (i.e., Blue Ridge) areas. I would love to grow my network and gain more clients, as WOM referrals tend to spread pretty slowly. Any suggestions on how to gain more clients more quickly? If you are in the market for a full-service Co-host, please feel free to reach out to me. Thanks!

(*PLEASE NOTE: I always suggest self-management as being the best, most lucrative option; however, if you find you cannot handle the time/energy required to do so, I am here to help make your investment in the STR space as hands-free and passive as possible.)

In this situation, I might look at working myself into the motels-turned-STRs in vacation rental hotspot fad, or I would get into apartments to uplevel and grow the fastest. BRRRR-ing STRs is also an option (i.e., Myrtle Beach, SC, would be a good place to buy up a bunch of old condos, renovate, and rent them. If you could pull off getting a cash-out-refi when the economy stabilizes again like my wife and I did during the pandemic, you would be looking at some serious cash). Just some other ideas...Good luck!

My wife and I explored this as a non-traditional route for funding. The SEC costs would be too much as others have mentioned for traditional syndication route, but giving away equity seemed like a good path to go non-traditionally. We just ran into having to give away too much equity to make it work with all the numbers and time/sweat effort to make sense. We would love to talk with or see someone who is doing this, though, and how they worked those things out. Maybe we were looking at too small of properties? Not sure...

Tim, you're very welcome! All the best in your endeavors!

I agree with Michael Baum...Vacasa's quality issues are exactly why I got into Co-hosting across the Southeast and usually gain new clients. They are just not happy with the quality of services for the cost. You can always self-manage by finding the right cleaner and handyman to be on your team/your boots on the ground. A Co-host or PM company would be something I would look into if you just cannot DIY it well. Happy to talk further if you need it. Just shoot me a PM. I am buying in PCB right now, actually. Good luck!

Happy to connect! I am in the STR space based in Atlanta but co-hosting for owners across the Southeast.

Hi! I am a Co-Host across the Southeast and would love to talk with you further. I can explain the costs further and would suggest using Awning. com + AirDNA or MashVisor to run numbers, in addition to using manual research on AirBNB's current listings around your area and PriceLabs' numbers for all projections. GRI from a RE agent can also really help on comps. @Jackson Madonna

Great question! I am in a similar situation with my own Co-hosting company. I agree that word of mouth referrals have been the life blood for my team. I have tried Google and FB ads, too, with a little success also. However, WOM simply has not been beat yet by any other methods. I just purchased a mailing list to try snail mailouts. I will report back here if I can once we go that route and if we have any success.

My wife and I are finding great deals in Panama City Beach, FL and Myrtle Beach, SC. Keep looking and analyzing deals, and you will land on the right one. Just don't be afraid to pull the trigger when you find one that works. Analysis paralysis can be the biggest regret-maker.

I agree with Mr. Copeland's response...Analysis paralysis, or just plain waiting, is my biggest regret thus far in RE. Even the seemingly small window of time of being in your early 20s vs. later 20s (or early 30s) to start investing can make all the difference. I didn't know that until I actually started investing, though, and got some myself in the game.