All Forum Posts by: Jon Martin

Curious to hear because I might do a hot tub at my next listing. Seems like a lot of work that maybe isn't necessary as long as you have good filtration and the water looks clear? 

Is there a difference in how often this is required with ozone vs chemicals?

I change linens and zippered duvets every time. Buttons might be easier because my cleaner complains about it. Might help to get the next size up for the duvet over the comforter to give it more wiggle room. 

Quote from @Adam Macias:

Short terms rentals are absolutely not saturated or limited in opportunity. I know people who work for Airbnb and they need millions of STRs because of the demand. They ain't even close and anyone telling you otherwise is talking out of complete ignorance. You'd have to be a fool to think there's no opportunity in STR/MTR right now.

I've noticed that the new host referral bonus has increased from $500ish to over $700 in the last couple months. 

Like everything it is highly local market dependent. There is no overarching STR market just like there is no broad housing market. 

Love their double wall coffee and espresso mugs/glasses. Stays super hot, but way too fragile for an STR.

Really like those coffee grinders, would add a nice pop to the coffee bar. 

Thanks for posting!

Quote from @Michael Haynes:

Hello Henry Lazerow in Chicago. You should watch Nick's ReventureConsulting youtube video, "Airbnb owners are about to Sell (Massive Housing Crash

 ". . . . . could be as bad as the subprime crisis" 

LOL!!!!

Almost nothing is "Recession Proof" but you are certainly better off trying to rent an easy to drive to STR than a condo in the Caribbean when times are tight. Just like people don't stop eating meat, they eat ground beef and chicken instead of rib eyes and filet mignons. The caveat is that you need to have bought right so that you can lower your prices and pay the bills, and also have desirable attributes that make your place standout. 

I would respectfully disagree with the "only buy in vacation markets" advice. Lots of people jumped into a small handful of markets where there are no other strategies/exit plans, whether that be from that type of advice and/or herd mentality. There are plenty of places where the price to entry is reasonable and the return potential is good, and you don't have to compete with hundreds (thousands?) of units with amazing amenities and live models in their professional photos. Just be sure to read the fine print and buy in areas where the prevailing politics tend to be favorable. If there are county wide regs I would avoid it like the plague, but if you can park just outside the city limits and still be close to the action you are good in lots of areas. 

By the time it's finished in 2-3 years we should be through this market cycle  . . . LOL. In all seriousness, there should be some wash out during the course of your build. 

I'd say if you are doing well then go for it. Sounds like you have a model that is working for you, even in a tough year. You are always going to be working off of lagging indicators, especially with a build that ties up your capital for 1-2+ years. 

Quote from @Sarah Kensinger:

I'm still trying to figure out why SOME people think the STR market has tanked. I'm surrounded by hundreds of STR operators that think otherwise.

I'm not either. I'm about on par with the AirDna estimates I ran when I bought at the start of 2022. With thousands of investors flock into the same small handful of hyper-competitive markets its no wonder that those markets will struggle, especially for those who bought in late. Meanwhile they ignore regional markets that have huge upside potential because they follow the herd instead of skating to where the puck is going. I love seeing neighboring properties close to where I want to buy with bad photos, average mismatched furniture and decor yet well occupied calendars. Shows me that with a bit more effort and good service I can easily surpass them. 

Some of the prevailing advice may not have been great in hindsight and in the context of too many investors piling in, but at the end of the day we are all adults who should do our own DD.

Quote from @Joe S.:

I'm wondering if you are attributing the saturation to the correct person? My guess is that more people were enticed by various personal finance and/or "hustle" podcasts, youtubers, tiktok etc. Most wouldn't find their way to a specific book nowadays without getting funneled in from another source is my suspicion. 

Quote from @John Underwood:

Quote from @Trent Reeve:

if they are crazy check in (say 4 hours early) then maybe. If its a little and the place is clean and ready, i let them know im letting them in early to start some good will. As for checking out, i check with my cleaners and sometimes let them know they can take another hour past the normal checkout time (10 am) if they need it. but honestly, i havent had anyone ask for late checkout so far this year.

I agree.

If it costs me no extra effort then I will do it an no extra expense to guests.

Same. It's a kind gesture that costs me nothing and makes a good review more likely. If it's not a same day turn and the place is open then I let em have it. 

That said, I don't go out of my way to accommodate it in regards to scheduling cleaners around it.