All Forum Posts by: Madri Koppe

I think house hacking is always a good option, especially if you are young and starting out. It gets you entry into real estate investing and can be a viable path in an expensive market. It likely won’t be about cash flow but can offset your expenses to save more money to invest again out of state if you’re looking for more affordable options. Plus you’ll have experience and can better assess what you want to do next. 

Rooms to go should be fine. You can accessorize from other places local to you so the place looks a little more unique. Also pops of color or pattern is a great way to make a place stand out for less once you have the big ticket items. I’m always thinking about how something will photograph so my other advice is to make sure the photos are top quality because that’s all someone has to go off when booking. 

I agree with others. You need to make sure the "marketing" is in the posting, description, furnishings, amenities, and photos to attract your target audience. If you setup your STR with your audience in mind they should find you.

My university had resources for parents and alumni which included where to stay and info about the local area so you can try connecting directly with the school. If you are so close to the university and the rental is setup appropriately you should hit your target. Also make sure you get reviews that speak to the experience you’re trying to promote.

Congrats! Amazon is my go to. They have everything from supplies to decor items depending on what you need to stock. 

I would recommend house hacking unless you had plans to move out of state. It’s a great way to get started in real estate and will offset your living costs when you do move out on your own. You know the area, plus appreciation, you won’t regret having this asset in the long run. 

Congrats! This is an exciting time for you. You’ll want to make sure your property is styled and stocked to fit the target market catering to what Big Bear has to offer and what guests expect. Have you thought of what look or vide you’re going for? Ideally you can provide something extra or unique that you can highlight in your photos and description to stand out. Make sure photos are enticing and due the property justice. Outside of aesthetics, make sure you have cleaners, maintenance and turnaround worked out so you go in with a solid plan. Your aim starting out should be to get the best reviews as possible and use guest feedback to make improvements as you go. Best of luck! You’ve got this. 

Thanks for sharing! I think it is easy to become overly reliable on these tools and just let it run. As investors we want to maximize revenue but to your point that still requires applying common sense and basic ethical principles. I think things should make sense so if I couldn’t reasonably explain something I wouldn’t do it. 

Oh and Hotel Del is amazing!

Most clients I’ve worked with allow for guests to sign in directly. I’ve done the same for my rental. I haven’t heard any negative feedback from guests when doing this. 

I own property and do interior design for rental and investment properties so I stay up to date from my clients and local events I attend through RE associations and meetups which I recommend. This forum is super helpful too so I try to regularly review what’s going on and be as helpful as possible. 

I noticed some of the reviewers mentioned how the area is up and coming so if the area is questionable that might be contributing to this. I would study the listings from the top performing rentals in your area to see how they are overcoming any challenges with location. If convenience to local Houston attractions is the primary reason why someone would stay there consider highlighting that in your photos. The property feels more feminine so you can consider a refresh to neutralize this. You could do this around $5K.