All Forum Posts by: Jon Martin

Quote from @John Underwood:

This seems like a marketing ploy that might appeal to a small group of travelers. 

Similar to the "Categories" that everyone lost their mind about 1-2 years ago. Very few people go to the main page without a destination and dates in mind. 

@Kandi Sterling yes, you are correct about why larger properties book out further in advance. That is not requirement for profitability but I certainly sleep better at night. 

I do agree that smaller units can be a better ROI than 2- and 3- bedroom properties, especially since there is so much overlap in the guest avatars between those bedroom counts. I personally don't like 3 bedrooms because the nightly rate to be profitable is too expensive to compete with hotels and 1- and 2- bedrooms, but not enough space for larger groups. That said, I don't think I could've acquired 2 smaller properties for the price of my 5 bedroom that also outperformed it.

As for your tiny home photo, I'm simply not a fan of that design. I don't doubt the practicality and workmanship, however the design doesn't do it for me. I think tiny homes are constrained by the dimensional requirements to be street legal without a state trooper escort. I've seen some great designs in the container or mini-MCM realm, however a lot of those have square footage that is closer to a small house than a true tiny home. 

To each their own- I hope you have success. 

Quote from @Deborah Wodell:

 I've only been in the game since 2022 so I don't have anything to report yet! Although I do keep an eye on their performance relative to value, and this is how I plan to rearrange my portfolio in 3-5ish years once I can see the annual earnings relative to the values of the properties. Idea would be to sell off the low ROE properties and funnel the profits into paying down those that cash flow better. 

Quote from @Andrew Steffens:

Not sure as a traveler I would stay in one or not, but I am sure there is a market for it.  To me the money is in larger groups.

Agreed. I've also noticed that large groups/properties book well into the future more often than smaller properties. Which makes sense intuitively.  After comparing the performance I don't think I could ever go back to anything under 4 bedrooms. 

I can also count on 1 hand the number of tiny home designs I've seen that don't look like repurposed tough sheds and/or have awkward dimensions. The only one that comes to mind as being somewhat appealing is the one that Elon Musk is supposedly an investor in. 

Awesome listing all around @Brandon Gale , looks like your calendar is filled up nicely for the fall. Goes to show that success is still possible, even in the most competitive markets, if you buy, design and manage right. 

I use the ATTO app. Has a big red/green start/stop button and you can add notes. You can export the records in excel. Costs ~$10/month. 

Quote from @Ricky A.:

I'm sure you could...as long as you're actually paying that expense to someone...oh wait, that person would be yourself...so you'd need to both record the income of you paying yourself as well as the expense of yourself paying you.  It's a wash. (Which actually matches what really happened...you didn't pay anybody, and you didn't receive any pay for your stay.)

Kind of like getting paid to pick up your own Door Dash order lol

I look at it as Return on Equity. If a property has a low return on equity, as in low revenue relative to value, it would make more sense to sell because you likely have equity that could be redeployed elsewhere for a better return. If you have a high return on equity, then you are more likely to be making high revenue relative to your existing payment, which means you would be more able to cover the higher payment of a cash out refi and would then have cash to deploy. 

This is a general rule and depends on a variety of factors but that would be the framework I would start with. For example, low ROE property could have more appreciation runway to go because it is in such a desirable area, so maybe you would want to hold onto it. 

Location, Cleanliness, Management, Furnishings/Decor, Professional Photos

Quote from @Matt Mertz:

We're in the process of building a small cabin and Minoan has been landing in my email a lot lately.  It's time to take another look at them.

Does anyone have any real-world experience with the affiliation/commission side of it?  I love the concept but not sure if it's worth partnering with them or doing it yourself and keeping all the commission.

 I have my doubts about how much hosts are actually making. That said- their discounts on furniture are significant.