All Forum Posts by: Landon Moore

Landon Moore has started 14 posts and replied 60 times.

Beyond is a great dynamic pricing software, however their user pricing is booking % based. Whereas PriceLabs is a fixed rate per property at $19.99 for the first and as you accumulate properties the price per listing decreases. If you have a single property and gross over $2,000 per month, its cost advantageous to use PL for dynamic pricing.
Tip - Map your VRBO listing for same properties thru your AirBnb listing in PL for only an additional $1.00.

@Andrew Steffens

@Andrew Steffens If you have 50+ properties, what does Revmax provide for you that made you switch? Do you prefer a specific PMS as well, over another?

1 Vote

The only weird thing about having separate bank accounts lets say per listing, is if you need to add a pool heating fee ad request an additional charge, that $ can only deposit into the primary bank account, not the listing specific account...which is annoying. The work around is to modify the reservation and change the nightly rate and build it in.

0 Votes

Quote from @Erik Stenbakken:

We do just like @Landon Moore said. We encourage them to black out "personal identifier number" on their ID before sending. We require a separate rental agreement also. We do that via OwnerRez that has a template for all that.

We have absolutely blocked bookings from under-age guests that Airbnb has approved. They usually have some story about why they won't submit ID, so we say booking will be canceled, then comes the ID with under-age booking guest. Similarly, we require ID to match method of payment. This stops the "Oh, well my COMPANY will pay for the rental, it's my ID, but my mom will sign the agreement, and it's my sister's Airbnb account" nonsense. That's not losing guests. That's preventing problems.

Exactly

Would love to learn more about your experience with OwnerRez.

0 Votes

AirBnb messenger for ID and SignNow for STR RA.

1 Vote

Quote from @Henry T.:

I'm just starting my STR. I have an over 25 age requirement, and Airbnb doesn't seem to have a way for me to verify a guests age other than asking the guest. And that's not good enough. For you hosts who do require an ID, what is the best way to have your guest show it? Text, email, security cam, or meet before check-in? Is there a preferred way to ask? It's in my rules that guests must show ID. I'm having a problem with this because I personally hate sending a pic of my ID anywhere, I'm very data protective. But of course you can't get in a hotel without showing one. So here we are. I want my guests to feel ok about it, and know they're ID is safe. I'm sure many hosts don't ask. But we need to see that ID. Thank you.

I require all of my guests to provide a photo of their ID within the framework of the lodging platform booked under (AirBnb / VRBO). I allow guests to black out address and DL # etc. just require name / photo and age. I also require STR rental agreement be eSigned before check-in information is provided.

3 Votes

Quote from @Leslie Anne Morris:

Can you do a sleeper sofa with an upgraded mattress or a Murphy bed?

Leslie nailed it...Sleeper sofa is Win-Win.

You could also add a single cot that folds up, stow in the closet somewhere for that one off reservation.

1 Vote

Can't make this one Travis! Fly to LA, will be at the next one!

Landon Moore

Pine to Palm Investments

1 Vote

Phoenix, Arizona

How are you able to get the DSCR and prove it cash flows with STR funds? Only way I have heard is using a "signed lease agreement"..

1 Vote

Little Rock, Arkansas

Interesting, where does one purchase the charger and is there an option to purchase a versatile charger to attract not only Telsas, but the other EVs (Ford Mustang..etc)?

Is the charger something that can be purchased use or must it directly come from Tesla?

0 Votes

Investment Info:

Single-family residence other investment in Phoenix.

Purchase price: $490,000
Cash invested: $49,000

2000 sq. ft. STR Main home and 660 sq. ft. STR the Guesthome on back of Property

What made you interested in investing in this type of deal?

Cash Flow and CoC ROI

How did you find this deal and how did you negotiate it?

Began as a primary home for my wife and I and we rented the Guesthome out on STR booking platforms while we lived there and it paid 100% of the Mortgage+ Utilities each month. We then turned that revenue and invested to furnish the 4 BR Main home into its own STR.

How did you finance this deal?

10% Down Primary Conventional Loan, lived in it for a year.

How did you add value to the deal?

Remodeled the Master Bath // Removed an interior wall // Added 8+ Person Hot Tub // Outdoor paver Dining Area // Turf Cornhole run // Turf Putting Green // Decor // Decorations

What was the outcome?

The revenue currently booked for 2022 through April 1 surpass the entire 2021 calendar year just renting the Guesthome in the back. Which paid back the initial capital put into the deal to start.

Lessons learned? Challenges?

Who not how. Delegate the work...it may save you $300.00 to do something yourself..or have it done professionally..quicker and book the property sooner and make that $ up.

Look at local comps and what they provide.

Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

Ryan Swan

0 Votes

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All Forum Posts by: Landon Moore

Landon Moore has started 14 posts and replied 60 times.

Post: wondering if beyondpricing.com is a creditable tool to use?

Post: multiple LLCs, one airbnb account

Post: Asking for ID before check in.

Post: Asking for ID before check in.

Post: Asking for ID before check in.

Post: Roll-Away Bed or Air Mattress

Post: HOTREI's Healthcare Professional Meetup

Post: Hard Money Loans For Short Term Rental Investment Property

Post: Question for STR owners / operators

Post: Flower Street STR (Main Home + Guesthome)