Skip to content
×
PRO
Pro Members Get Full Access!
Get off the sidelines and take action in real estate investing with BiggerPockets Pro. Our comprehensive suite of tools and resources minimize mistakes, support informed decisions, and propel you to success.
Advanced networking features
Market and Deal Finder tools
Property analysis calculators
Landlord Command Center
$0
TODAY
$69.00/month when billed monthly.
$32.50/month when billed annually.
7 day free trial. Cancel anytime
Already a Pro Member? Sign in here
Pick markets, find deals, analyze and manage properties. Try BiggerPockets PRO.
x
All Forum Categories
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

All Forum Posts by: Jesse Turner

Jesse Turner has started 9 posts and replied 99 times.

Post: STR Tech Stack

Jesse TurnerPosted
  • Property Manager
  • Lake Lanier
  • Posts 99
  • Votes 89
Quote from @Alex Dixon:
Quote from @Jesse Turner:

What, if anything, are people using for collecting guest feedback?

What do others use for prompting positive reviews or intercepting negative reviews?

We built into our automated messages to ask for feedback and do so prior to a review. Most guests are willing to provide feedback, especially given the upfront touches/relationship we try and drive initially. We ask for a review with the context that we aim for 5-stars which also helps.  

And that feedback is delivered via the OTA messaging app? I'm curious if others are using structured surveys for tracking trends in experiences.

Post: STR Tech Stack

Jesse TurnerPosted
  • Property Manager
  • Lake Lanier
  • Posts 99
  • Votes 89

What, if anything, are people using for collecting guest feedback?

What do others use for prompting positive reviews or intercepting negative reviews?

This seems like undeclared paid sponsorship by Hospitable. They must be an official partner of BP.

Post: Why Guest Reviews Matter (and How to Get More 5-Stars!)

Jesse TurnerPosted
  • Property Manager
  • Lake Lanier
  • Posts 99
  • Votes 89

@Ryan Leake thanks for sharing helpful tips.
Steps 4 and 5 for "boosting ratings" is why I've designed an auto-mated post-stay review intercept survey. My philosophy is to catch negative reviews before they happen AND to make it easier for happy guests to remember to rate and review.

Post: How do you handle unreasonable reviews?

Jesse TurnerPosted
  • Property Manager
  • Lake Lanier
  • Posts 99
  • Votes 89

@Brandon Gale other than a destructive guest, this is the worst part of hosting.

I've devised a guest feedback system ("Review Intercept") that I'd be happy to show you.

The concept is to intercept reviews by surveying guests upon check-out. If they indicate they will leave a positive review, the survey will direct them to the proper OTA to leave that positive review.

If they indicate they will leave less than a 5-star review, trigger an email to the host/assistant for immediate follow-up. This effectively intercepts a negative review before it happens, allowing you to identify if something can truly be done to bridge the experience gap.

Some guests just want to feel extra special or important, and the best you can do is smooth things over and move on to the next.

Post: HELOC Primary Home for Down Payment?

Jesse TurnerPosted
  • Property Manager
  • Lake Lanier
  • Posts 99
  • Votes 89
Quote from @Nathan Gesner:
Quote from @Vinny Incognoli:

Your equity is not a savings account from which you can withdraw for free. If you cash out equity in a property, you are "borrowing" that money from the lender. Upfront expenses and monthly payments must be considered when calculating the return on your investment.

EXAMPLE
You cash out $100,000 of your equity and use this as a down payment on a $400,000 investment property. This creates two loan payments ($100,000 of equity and $300,000 on the new mortgage).

Key Numbers

  • Home Equity Loan Interest Rate: 6%
  • Mortgage Interest Rate: 7%
  • Rental Income: $3,000 per month
  • Expenses (management, taxes, insurance, maintenance): $800 per month

Income and Expenses

  • Monthly Rental Income: $3,000
  • Monthly Expenses: $800
  • Monthly Mortgage Payment: $2,000

Explanation

  • The investor earns $3,000 in rent each month.
  • They pay $2,000 on the investment property mortgage and $800 on other expenses.
  • This leaves $200 profit each month or $2,400 per year.
  • However, you have to pay $6,000 interest on the equity borrowed.
  • This leaves you with an annual loss of $3,600.

This example shows that while the rental property generates positive monthly income, the interest cost of borrowing the initial $100,000 results in an overall annual loss. The investor must consider whether the potential property value increase or other benefits outweigh this loss.


I've recently seen a HELOC offer with no interest for the first 10 years. Is that not typical?

Post: Salt Lake City - Any ideas how to STR?

Jesse TurnerPosted
  • Property Manager
  • Lake Lanier
  • Posts 99
  • Votes 89

@Eric Sato My experience in that area suggests that Mid-term rentals (travelling nurses) may be the next best option. You'll want to have a lease agreement in place, which makes it different than STR, but you should be able to get 3-6 month rental agreements in place.

Post: For larger operators: do you analyze guest feedback/comms?

Jesse TurnerPosted
  • Property Manager
  • Lake Lanier
  • Posts 99
  • Votes 89
Quote from @Andrew Steffens:
Quote from @Jesse Turner:
Quote from @Andrew Steffens:

We do about 250 reservations per month on average and get about 100-150 reviews.  We have our reservationists respond with ChatGPT with all 4/5 star and anything 3 star or less gets sent to management.  All reviews responded to and reviews left for all guests.


 This makes a lot of sense. How about the live communications pre- and mid-stay? Does your PMS allow you to create automated workflows to resolve issues that guests bring up before they leave reviews?


 To an extent.  We use Streamline and it will generate boiler plate things like a welcome letter, check in info, and check out info etc. Otherwise we do have 24 hour guest communications/reservationists.


 Nice. I'm toying with an idea for a system that would handle guest communication workflows using AI, analyze the feedback, and also trigger surveys post-stay/review for tracking performance.

As far as I can tell, there's nothing out there that does those 3, but perhaps there are separate services that provide some or more of those.

Post: For larger operators: do you analyze guest feedback/comms?

Jesse TurnerPosted
  • Property Manager
  • Lake Lanier
  • Posts 99
  • Votes 89
Quote from @Andrew Steffens:

We do about 250 reservations per month on average and get about 100-150 reviews.  We have our reservationists respond with ChatGPT with all 4/5 star and anything 3 star or less gets sent to management.  All reviews responded to and reviews left for all guests.


 This makes a lot of sense. How about the live communications pre- and mid-stay? Does your PMS allow you to create automated workflows to resolve issues that guests bring up before they leave reviews?

Post: For larger operators: do you analyze guest feedback/comms?

Jesse TurnerPosted
  • Property Manager
  • Lake Lanier
  • Posts 99
  • Votes 89
Quote from @Brian Barch:

I use chatgpt. Works amazing honestly. Copy and paste reviews into the tool an ask it to summarize. 


 Also, do you rely on Virtual Assistants or full-time staff to handle comms and requests?