All Forum Posts by: KiKi Wood

I think it is a great idea! We don't manage one that has a gym personally, but have some friends that do and guests love it. Like @Sarah Kensinger said, make sure insurance covers it, but I think it's a great addition and can set your STR apart.

Hello! What markets are you looking at for STRs? I am a realtor in Indianapolis, IN, and also own an Airbnb property management company, called Brentwood Property Group, with my fiancé. We have over 20+ properties we manage in Indy, all STR/MTR! I would love to connect with you about investing in this area, or if you just want to chat about Airbnbs in general!

From my experience, I ask questions to "vet" someone and make my decision from that. For example, I always ask them:

- What brings you into town? 

- Your profile says you're from (city). What brings you to stay at an Airbnb? 

- Who are you bringing along with you? 

From there, I can usually tell if I feel comfortable enough to accept. Most times, if they are from the same city, I decline them because there's really never a good reason why then need to stay in the same city, unless they are booking on behalf of someone. 

I usually keep instant booking on, but it usually only lets someone instant book if they have previous, positive reviews. So, I feel pretty confident about which it usually lets instant book. 

We try to stay away from local bookings. Unless they come out and say they are booking on behalf of someone, I decline. 

We have all of our properties (21) on a two night minimum. We also change some weekends to three night minimums, if there is a big event in town. Two night minimums, if you're priced correctly, can help keep away people who would throw parties or cause unnecessary problems.

We also use dynamic pricing (through Pricelabs) that has helped TREMENDOUSLY with pricing competitively and making sure we're booking consistently. 

In my opinion, no! But, I totally understand how it can be overwhelming. Sometimes, handing your STR over to a property manager (the right one), can take a lot of the stress off of you. I highly recommend finding a local Airbnb PM and making sure they have the systems in place to take care of your property, and do it the right way. My fiancé and I own a local STR property management company, and use dynamic pricing, direct booking, and all the things to make sure our owners are making the most money they can. I would say that is imperative to keeping a good Airbnb, and making sure you have the right PM for the job.

Wow! Great info. I have clients that recently purchased an Airbnb in Waikiki and they have had a lot of success with their unit already! I also personally invest in Airbnbs in Indianapolis. It is an unexpected, but great market for STRs and is a low barrier to entry!

Hi all!

I am a local agent in Indianapolis, and my fiancé and I own an Airbnb property management company, Brentwood Property Group. I have a lot of my clients ask how to know what makes a good Airbnb, and where to buy in Indianapolis! Like most cities, Indianapolis is known for being pocket-by-pocket when it comes to what class a neighborhood is. That's why it is so important to have someone on your team with market knowledge and knows where to buy STRs. 

An advantage that Indianapolis has is a lower barrier to entry (home prices, less competition, etc) than many states that STRs are popular. There is also some versatility in and around Indy, which makes for a lot of great markets that bring in guests for different purposes. When looking for areas to invest in STRs, I use the combination of market knowledge as a realtor, AirDNA, and our experience with Airbnbs in these specific areas to give recommendations to our clients. With that being said, here are my top recommendations for areas to invest in Indy for Airbnbs, and what brings guests to this area! 

1. Fountain Square/Bates Hendricks (homes are renovated, close to everything downtown)

2. Broad Ripple/SoBro (has its own downtown area, also close to downtown Indy, known for cute bungalows)

3. Beech Grove (more suburban, close to everything but is more quiet)

4. Noblesville (close to the biggest concert venue, suburban, a lot of amenities, price point is higher)

5. Westfield (close to a big sports park, brings in a lot of families, very nice, price point is higher)

6. Greenwood (very few STRs currently, a lot of amenities, close to everything, price point is higher) 

7. Speedway (close to the track for Indy 500, close to downtown)

8. Butler Tarkington (lower price point, close to everything) 

9. Nora/Northside (close to Carmel and nicer north side areas, close enough to downtown)

10. Downtown Indy (in downtown Indy, more pocket-y)

Again, these are based off of experience and market knowledge of STRs in the area. There are many more areas that are growing and would do well, but here are the ones I recommend the most! I have an actual map I have put together of these areas and more, if anyone is interested! Indy is a great area to invest in, and I would be happy to connect with everyone and talk about STRs and investing in Indianapolis! Please let me know if you have any questions or want to chat. :) 

- KiKi Wood

Hello! This is my first post on here... but I wanted to tell you a little about myself and hopefully connect with those who are also starting out! 

My name is KiKi, and I am a Realtor in the Indianapolis area. I specialize in first time homebuyers and investors, so I would love to chat about your real estate goals and connect with you! I got into Bigger Pockets and real estate because my boyfriend is a real estate investor in the area, and is actually a very big fan of the podcast. After listening to countless hours of the podcasts and YouTube videos, I decided to jump in myself. 

I'm lucky enough to have a built-in investor in my client base, so I am very well versed in helping investors find the perfect investment and also learn about the investing world that I hope to be a part of here soon. 

If you are looking to make some connections and chat about real estate, don't hesitate to reach out! I love meeting new people, and I would love to set up a call or go for coffee. Let's expand our real estate portfolio, together, in 2022!