All Forum Posts by: James Wan

Hi all, I'm wondering anyone aware of a resource that would provide alternative options for a property that is currently listed on Airbnb?

For context - I have a five bedroom home, split in two units in ATL. I live on the top floor but have also rented out both floors previously via STR. The bottom floor is a permanent STR.

At this point, living on the top floor of an STR no longer fits my life and while it has been somewhat profitable depending on the month, I can no longer handle the hassle of management and would be taking a loss if I used a standard airbnb property manager. I've heard they take about 20% of booking profits...

I'm wondering if anyone has any ideas and/or resources that I can look in to for different options for my home. I have another long term tenant in a different property and that runs smoothly. However, the mortgage and taxes are too high in this home to go that route. I don't want to sell because I'm in an appreciating neighborhood but definitely need to look in to some other, potentially more creative solutions.

Any help would be much amazing, thanks everyone for taking the time to read my post!

I like the idea of an MTR/STR combo. MTR is less hands-on compared to STR so that would help with the guest follow up situation.

You can also consider STRing the entire home, increasing the amount of guests allowed will increase your ADR and potentially your occupancy rate.

You can also have someone co-host the properties if you STR both of them. They can deal with the day-to-day and they usually charge less than a standard PM. I believe Airbnb just launched a co-host feature for hosts.

0 Votes

Atlanta, Georgia

Quote from @April Birdsong:

Update: My floor guy came over and found original hardwoods under the carpet in the bedrooms. So I am just going to refinish them for $1500. Yeahhhhh a wonderful surpise.

Thanks again

Original hardwood floors are beautiful but will take a beating from the guests' traffic and their suitcases. Be sure to add plenty of rugs to minimize damage. They add coziness and tie a room together nicely as well.

1 Vote

Definitely a scam. I get these all the time for my STR and MTR usually looking for extended 30+ day stays. The contact is usually brand new to ABB, have no reviews, and the message is likely translated. But the most common giveaway is that they ask strange questions inquiring about your home and will eventually want you to take it off platform, ie. Whatsapp, and once that happens their message is flagged by ABB and you can report them.

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Quote from @Natalie Medved:

Hi everyone:

My husband and I are in the process of furnishing our transforming our second home in the White Mountains (Thornton, NH) into a STR. The market has a lot of baseline - economically friendly STRS but only a few luxury STR's, most of which are dated and drab. Our goal is to me a more accessible luxury option for couples and families. I personally prefer staying in a nicer STR and appreciate nicer finishes, details, and a unified ascetic, and want to provide a similar experience to our future guests. I am a lover of interior design (think Amber Lewis and Architectural Digest) and could easily go overboard decorating and furnishing the place, which I'd like to avoid haha. I also recognize that AirBnB's can be used and abused, which makes sturdy and reliable furniture selection even more important. But where does one find ascetically pleasing furniture that is built to last without breaking the bank?

What are your favorite places to buy furniture and goods for your STRs? From night stands to linens, we'd love any and all input!

Thanks in advance!
Natalie

I second Minoan! It's a fairly easy site to use and they have an extension on the retailer's site making shopping more convenient. They carry a ton of brands from high end DWR to Article to Wayfair offering discounts as mentioned. Nice job on the design so far. I would go dark on the outside like ink black, that will surely stand out, and make sure to incorporate some dark accent pieces inside too!

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Hey Community,

I am looking into the Waco market to potentially invest in an MTR and want to know if anyone is having success with this strategy.

I am aware there are strict regulations around STRs in this area, which I am not keen to pursue, so am curious to know if the demand is there for MTRs. I know there are 2 major hospitals and am wondering what other sectors would be ideal for guests wanting longer stays.

Any insight into this strategy along with recommended areas to look at in and around Waco would be highly appreciated. Thanks in advance!

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Austin, Texas

Great perspective Nathan. Getting hung up on the numbers is REAL. Especially for first time investors like myself then you're stuck in the analysis paralysis stage.

RE is usually the long game. Take a chance and what you learn along the way is invaluable as well.

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All Forum Posts by: James Wan

James Wan has started 1 posts and replied 6 times.

Post: Short Term Rental Alternatives? Need Help/Ideas

Post: Replace new carpet in Bedrooms for hardwood?

Post: Thoughts on these Airbnb messages

Post: Furnishing STR Do's and Don'ts

Post: MTR success in Waco TX

Post: I made a rookie mistake and destroyed my future!!!