All Forum Posts by: Jon Martin

Quote from @Michelle Clifford:

Bongostays is back with their same old video (same woman in it) as a new restructured company BeeSetups, just FYI. Their bankruptcy filing and firing of Rick (I think Hilany was still there though) wiped out their obligation to any of us that were owed as far as I can tell which is a bummer.

They are sending me emails advertising 50% off Airbnb setups..

Shameless . .. . Probably 50% off of the "Setup Fee" so long as you buy their grossly overpriced furniture through them. Bait and switch. 

Quote from @Michael Baum:

Yeah there are some cool ideas here, but I do believe she is skirting some local permit laws. Hard to tell but I know some of those wouldn't fly in some places.

Yeah that was my first instinct as well. Proper secondary escape/egress, ventilation, etc. Which directly ties into the liability of non-permitted and uninsurable properties built in trees by unlicensed builders. 

Great for her, but I don't think I would sleep well at night

Quote from @John Underwood:

I hope they can make the app more like Vrbo's. Airbnb 's app is clunky and more difficult to use than Vrbo's.

From my own experience and what I hear from most others you are in the minority with this opinion. Maybe because you use VRBO more?

I started using both at the same time and found AirBnb to be far more user friendly with less clicks/swipes needed for any task. Whereas with VRBO I've had several tech issues that were unfixable, such as photos that never load no matter how much I manipulate them, and a catch 22 with the dynamic pricing that never worked that locked me out of my calendar. With AirBnb I've never had anything remotely as frustrating. 

I found the same thing as a guest as well. 

I don't think that much of the above is mutually exclusive. Many of those items are desirable by all guests, so I'm not convinced that you have to dial it in to one category at the expense of others. For example I don't see much of a difference between a business traveler and a digital nomad, and the business traveler would still appreciate a washer/dryer. 

Make sure the couch looks nice, it will make the entire place look more comfortable by default. Have a nice rug that compliments the couch if you have hard floors. Dressers, nightstands, table/chairs etc are less important. 

Metal bed frames all the way, far less liability than wood. I've seen plenty of high end places that still use metal frames, nobody cares/notices. You can still put a headboard on them if you want. 

Quote from @Travis Timmons:

There may be strategies that require a little more blocking and tackling, but the price, location, and amenities of your property is what is going to attract your target guest. It's more about catering to that guest than it is marketing in the right places. If it's a good fit for parents, they'll find the property on the major booking platforms.

Beat me to it! The OTAs get you far more traffic than any other sources. 

Put the relevant info in your headline "3 min to University, walk to ____, game day backyard". Have some decor pertaining to the school, such as photos of famous athletes, campus landmarks, banners etc. Make sure parents will see that it will be a fun place to book while they visit. 

I have a list with links that you are welcome to, feel free to PM me. I focus on mid-grade quality items that are durable and pleasant to use yet not so nice that people are tempted to swipe them and are then expensive to replace. After 2 years I have had to replace very few items, whether that be from theft, loss, or over usage. 

Unique pieces are great for "Flair" and individuating your property but if it fits in a suitcase and isn't fixed to the wall or floor then it will not be long for your STR. Case in point, I picked up some turkish blankets with great color and pattern on Etsy that looked awesome in my photos, and one of them was gone by guest #3. They weren't that much more expensive than a generic blanket but the principal and selfishness burns.

As mentioned above it there are dozens if not a hundred+ small items that are easy to forget that guests will expect you to have (can opener, wine opener, oven mitts etc) 

Plenty of STRs that perform just as good as the pool STRs because they have a great design, location, or other fun amenities that have less liability and headache. Depending on the market, A game room can give you a similar ROI with much less liability.

Keep in mind that pool maintenance and chemicals will set you back several hundred a month, plus higher insurance, utilities etc. While a great feature, pools aren't the only amenity that can move the needle. 

Quote from @Bruce Woodruff:

VRBO preceded ABNB by 13 years but they dropped the ball somewhere and fell to a distant second. They are on a big push to get back in the game though, have you seen their recent ads stressing that they only list private homes? Pretty catchy IMO.....

VRBOs money would be much better spent hiring better talent on the app/web development side. The user interface is dated, unintuitive and requires far more clicks to do anything compared to Airbnb, on both the host and guest side. 

@Travis Timmons  "If you want real yield or cashflow, you have to buy in a non-vacation market that is not top of mind for an STR. It's the boring places that probably won't appreciate above the rate of inflation that will provide real month to month income."

Agreed 100%. My first 2 purchases were in a market on that list, and while the year round occupancy and revenue has been solid, it is much tougher to buy now than 1-3+ years ago. While I'm grateful for the appreciation, there comes a purchase price for new acquisitions where the returns diminish rapidly and tougher to find properties that fit my buy box. 

Pivoted to a new market for my 3rd property where the entry price is low but revenue is moderate, average listing quality is poor, and occupancy seems steady year-round. There is one quality operator who gets ~$50K on a house that would sell for $250K. Most of the other listings are garbage. Bought 2 SFRs on the same lot that are zoned commercial (found on Crexi) for less than the price of a normal SFR because of the value add required (like kitchens and full baths, lol), but should BRRRR nicely based on the LTR and STR projections.

Like you said, you have to make deals and look outside of the typical markets.