All Forum Posts by: Kevin Rodriguez

Stop paying for STR knowledge. Spend time reading through posts in the forum.

Get and read Avery Carl's book. She has a new one coming out soon too.

You'll get there, be patient.

Don't be afraid to buy some well-priced LTR houses too.

@Kevin Rodriguez +1 on no arbitrage. Sure it can work for some but it is an uphill battle and like @Travis Timmons said, you are losing out on appreciation...the Holy Grail...

I would just start buying property, some may work as STR, some may not....but they all should work as LTR. Then you are 'in the game' so to speak. Sell one of these in a few years and use your accumulated wealth (appreciation) to buy a STR at that time. Or maybe by then you will just bypass the STR thing and go a different direction.

STRs are a lot of work and not the shiny object they used to be. Ask that question here on the Forums and check out the answers....

@Travis TimmonsThanks for the insight and I would like to connect with you and have a conversation, I’d like to come up with a game plan as I plan on cohosting. What would you say is the best approach and how much is a good start up cost?

 Thanks @Garrett Brown

 Welcome @Kevin Rodriguez ! Nothing under the table, you can do all of this on Airbnb or using Hospitable easily. You can send the guests an automatic message when they book telling them you can't wait to have them and that you offer xyz (I offer Birthday, Romantic, etc.) packages if they have any interest in hearing more. 1 week before checkin, Hospitable sends another automatic message asking if they want to add anything last minute if they haven't already. You can collect payment directly through airbnb or collect it through your payment processor (mine is Stripe) on your direct booking website. 

 Hey @Joyesh Kakkar, I am a current member of the 10xbnb Community. Like most paid classes they offer a wealth of knowledge and resources that include Email scripts, Cold Calling Scripts , Contracts for PM and Cleaners, Different resources for lead generation, Business Brochures, Data Analysis tools similar to AirDNA that gather Comps and ADR (also Prospect/Relator Reports ), Private Fb Groups with live Townhall meetings to interact with other members weekly, limited access to success coaches, and the list goes on. Now, I personally am having challenges because I am a novice like your self and have not closed a deal yet , I started in the beginning of October, and the cost for me is pretty expensive because of my current situation but the resources are so valuable that id hate to walk away after spending do mush money on startup like the website, LLC, Domain, and all other legal/professional entities. I look forward to connecting with you to share somethings that i have learned along the way as well as challenges I have faced. Happy Holidays'

Kevin

I am a rookie and do not have much experience in real estate apart from buying my condo a few years ago. I am an engineer, so I am coachable and I am interested in the field. So, I was looking for mentorship/coaching and stumbled upon some of the courses below. I looked at some of their free videos before booking a call with them.

From their free videos, it seems like the model works, and people make money from it. I do not think that I would generate a 10k cash flow in the first month and am keeping my expectations real. So, I was thinking of joining one of their paid courses. Do you all think it is worth it? If someone joined and can provide some recommendations or reviews about some of the courses/coaching/mentorship programs available, such as

1. thebnbuniversity  (https://thebnbuniversity.com)
2. airpreneur (https://www.airpreneur.com)
3. bnbinvestoracademy (https://www.bnbinvestoracademy.com)

How much money was asked from you ( Info doesn't seem to be available online) and what did you learn from it?

Thanks

As everyone is getting for the holidays to ramp up and the new year to turn, I want to give some insight into a simple thing that me and my team have been doing to increase our ROI by about 10-15% each month. Some people already do this, but I chatted yesterday with someone who had not thought of this, so I wanted to give out one of my best ways to maximize your revenue and resources.

We upsell 3-to 4 simple packages that guests love; I have trained my cleaners to handle them (they make extra money), my VAs help schedule it with cleaners, and we still make a 50% profit margin on everything.

An example of one package we have is a Romantic Package - $199. 
12 Balloons (buy the helium tanks and keep balloons on site for your team or use a local shop)
Rose Petal Entry Way (bought off Amazon)
2 Dozen Roses (local grocery store for $10-15 each dozen)

Led Candle Display (bought off amazon and reusable)
I Heart U Signs (amazon and reusable)
Champagne (or wine if they want)

This equals around $60-70 each time and we pay our cleaner $40 to set up. Guests love this upsell for the experience provided, they are more likely to share on social media, you can use the decorations as marketing, build relationships with local vendors, and provide extra income for your team. 

We even (I still can't believe it) had a person stay in one of our units that is about $350 a night, who bought EVERY SINGLE PACKAGE (Romantic, Birthday, Breakfast, and Pizza/Smores Kit) and spent $1000 in packages alone. I definitely thought it was a scam but it was legit and easily one of my most profitable 1 night stays away from a pure revenue stand point. We sell about 5-6 of these a month per unit. Happy hosting and holidays my fellow STR friends!