All Forum Posts by: Jon Martin

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. 

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

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

Is the subscription a way of paying the hosting fees in a Lump sum, or does it get you preferential placement with searches?

So your place pops up at the top of the search if you pay a subscription? Kinda like a slotting fee in a grocery store?

Lately I've been curious as to how bed:bath ratios affect guest trends. To illustrate this, I have a 2/1 where the average and median guest count are exactly the same for 2023 and 2024. The percent distribution of 1/2/3/4 guest stays are almost identical between the 2 years. 2 guest stays make up 2/3s of my stays, with 3 and 4 guest stays being in the single digit percent. 

What I'm wondering is if I had another bathroom, would I get more 3 or 4 guest stays, and could possibly charge more? My theory is that 2 bed properties mostly serve the same guest avatar as single hotel rooms and 1 bed properties. 

I mention this because AirDna does not provide detailed guest number data, and does not effectively parse out the impact of bathroom count. 

I would be wary of any service where you pay a lump sum and they provide the items. Way too much room for fraud. Or at best you overpay and the "designer" buys the cheapest junk furnishings possible. 

Impossible to guestimate rehab costs, could vary wildly. $30K should be more than enough for fresh paint and flooring and some other odds and ends, but if you need dry wall, cabinets, countertops, mechanicals etc it could get much pricier. 

Your instincts are correct regarding used furniture, unless you have someone you have rapport and trust with already it will be a major hassle coordinating picking up used furniture. The cost savings will be somewhat negated by what you will spend for their time. 

As for furnishing costs, you are welcome to PM for my Excel shopping list. Instead of SF I have it broken down per room. I have it at around $5K for a quality living and dining setup (sectional, accent chairs, coffee table, tv, rug, dining set for 6). That could vary somewhat in either direction based on guest count. $3K per bedroom, $1700 for kitchen/dining utensils, $300 per bathroom, and another $1000 for miscellaneous (smart lock, modem/router, cameras, board games etc). You could easily be under $18K for a 3 bedroom house, not including set up costs. I can give you some insights on setup as well. This is for mid-range quality and minimal assembly items- what you save in purchase price you will lose in replacement and assembly costs!