All Forum Posts by: Julia Parslow

Size of the town isn't the big factor. Do people visit your area and why? Some of those travelers will prefer an STR over a chain hotel. I have two STRs in a town of 2200. It is very rural, just off of I-70 and halfway between California and Denver. People travel through here for all kinds of reasons including family events, outdoor sports and visiting national parks. I am always booked to a comfortable level. Look at what niche you can market to and design your space to attract those travelers.

Views don’t matter too much. Nights booked matter. I want to stay above 50% even during “slow season” across all listings.  I am at 80% in December. That’s great. YMMV.  

We have an STR 4 hours away. We have a great housekeeper and we keep the supply cabinet well stocked for her to replace consumables and store cleaning supplies. If something needs fixing or replacing, we have a list of reliable service people to call. The service providers let themselves in with a door code. Our experience has been that If you have a team and a plan for contingencies, it's totally doable and profitable.

I try to estimate consumables such as soap, shampoo, tea, coffee etc for 6 months quantity and stock the locked closet with that much.  We visit about every 3-4 months so we rarely run out.  My house cleaner has picked up needed supplies once and I sent funds to cover the purchase.  It worked out well.

It's the small things that surprise guests and that get us great comments: an assortment of seasonings, crayons and paper, good books on the area,

The one thing everyone seems to need:  great wifi. 

We have one STR and we will soon have 3. There are places that recognize the value they provide to communities. We don't live in a "tourist" area but all of Utah is traveled by visitors. Just a positive thought out there.

From Youtube

All these people are offering you wise perspectives from their experience.  Best advice I ever received after inheriting-  take two years, let the emotion clear, learn what you want and the steps necessary to get there.  Just read, research and chart your own path.

These 403b accounts are over 20 years old.  I am no longer in public ed. I am retired but not 59. Individually, they are small low yielding accounts but liquidated and reinvested they could, potentially provide a higher return. Thanks for all the feedback. I am still considering the options.  I am self employed now so the solo 401k idea is worth studying. 

Over many years of traditional employment, we have acquired several small tax sheltered annuity accounts.  They were not great ideas to begin with and now we would like to consolidate all of these small funds into a real estate purchase that would generate better cash over time.  Taking into consideration a tax hit of about 10% to do this because we are not 59 1/2, but no surrender fees because the funds are older, does this make sense to reallign the use of these funds in a more profitable way?

Under what circumstances does this not make sense?