All Forum Posts by: Jon Martin

I only look at 5+ bedroom properties or those that can be converted into it. The 1-3 bedroom space is saturated in most markets. The revenue slope goes parabolic in most markets once you are 5 or more bedrooms. Plus you get people booking well ahead of time for events. 

I would opt for twins (doesn't have to be bunk beds) in the 3rd bedroom in almost all situations, unless it is somewhere that you know you are more likely to get 3 couples traveling together than families. Which seems rare outside of markets that are mostly centered around non-kid friendly activities. 

3rd bedroom over game room. Depending on the market, a 2 bedroom may not even attract the guest avatar that would regularly use and appreciate the game room. The more rooms/heads, the more likely they are to want a game room because more people can enjoy it together. 

I would definitely convert the garage so long as you have ample parking outside. Garages go mostly unused by STR guests. a 2 car gives you a lot of space and options, because a pool table with clearance will take up that entire master. With the garage you have double the space, so you could do a pool table in one bay and still have the other side for arcades, shuffleboard etc

Thanks for the Clifs Notes! I think if you reach out to the host and give them a fair chance to address the issues, and in response they are complacent and making no effort, then leaving a negative review is absolutely fair. 

TLDR

Try to condense and get back to us

Santa Fe has similar revenue to Sedona but much lower entry price. Greenville and Savannah are still affordable as well and have very good occupancy year round. 

Can they be painted?

Been operating in Greenville SC for 2.5 years, slightly outside the city limits as mentioned above by @John Underwood

Have looked at a fair number of properties in #1, 3, 4, 13 & 15. Santa Fe has great numbers and I was close to putting in offers until I spoke with the city last fall. They were close to their STR permit limit at the time and were waiting until the spring to open up the application process, at which point they were likely to exhaust the remaining supply. Could still be a "outside the city limits" play.

Honolulu, NYC and Boston seem like a no go between regulations and entry prices. Nashville, Charleston and Austin seem tough as well. 

Agree with the above, although I would limit the number of dishes/utensils that you offer so your cleaner doesn't get stuck with a sink full of dishes. 

 You'd be surprised at the occupancy rates of some of these mid-sized cities. Could be #1 from a profitability standpoint