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All Forum Posts by: Ryan Moyer

Ryan Moyer has started 11 posts and replied 878 times.

Post: Direct Booking Websites

Ryan Moyer
Posted
  • Property Manager
  • Orlando Kissimmee, Davenport
  • Posts 893
  • Votes 1,293
Quote from @Austin Keller:
Quote from @Ryan O'Connor:

Howdy BP!  We are looking to diversify a bit and not solely rely on the major OTA's for bookings(Airbnb, vrbo, etc).  We currently utilize Hostaway PMS and have built a direct booking site through that platform, but haven't used it up to this point.  Looking for recommendations on best practices for driving traffic to site to book and just general advice.  Any help is greatly appreciated!

Ryan


 I would find a copy writer to fulfill all marketing emails or messages you may have. They’d do it by creating you an email sequence that gets sent out weekly to increase your direct booking rate


Are there copy writers that do this specific to STR, and focused on your specific home/market? Any recommendations? I loathe writing email copy.

Post: Number Crunching/Underwriting with Cleaning Fees

Ryan Moyer
Posted
  • Property Manager
  • Orlando Kissimmee, Davenport
  • Posts 893
  • Votes 1,293
Quote from @John Underwood:

The cleaning fees are a pass through and shouldn't be in your estimates.

 But if the cleaning fees are in the revenue projection they got then they need to be accounted for in the expenses.  AirDNA (by far the most common way new people get their initial revenue projections) does include cleaning fees in revenue, so it is important those people are not misled away from calculating that into their expenses if they're using AirDNA data, or they could end up in real trouble from advice that didn't fully explain the context.

Post: Best Credit Card for STR's?

Ryan Moyer
Posted
  • Property Manager
  • Orlando Kissimmee, Davenport
  • Posts 893
  • Votes 1,293
Quote from @Nathan Gesner:
Quote from @Andrew Steffens:

Do you have an extra zero in there? 430,000 points is normally worth $4,300.

 That's exactly his and my point regarding points vs. cash.  Points are often much more valuable than cash back, and can often be redeemed at much higher valuations than 1c per point like you get with cash back.

The highest value redemptions are usually on international trips.  International first class flights in particular.  It does require some shopping around and some luck, but you can find redemptions like Andrew was alluding to.  It's not nearly as simple as clicking a button and getting your money, and it requires some legwork find the best transfer partners, most valuable flights, etc.  But as Andrew showed, it can be worth the extra hassle.

This was 10 or so years ago, but I remember redeeming 100k points for 2 round trip first class tickets to Europe that would have been about $17,000 to buy the tickets outright.  100k points is only worth $1,000 in cash.  So those points were redeemed at 17c per point.

Post: Airbnb asking me to issue refund

Ryan Moyer
Posted
  • Property Manager
  • Orlando Kissimmee, Davenport
  • Posts 893
  • Votes 1,293
Quote from @Eliott Elias:

Be careful with this, airbnb can ban you if they see enough of this activity. You want to pick and choose your battles. 

 This is also completely false.

Airbnb can ban you if YOU cancel on the guest without cause too many times.  They will not ban you for declining a refund in line with your cancelation policy after the guest cancels.  They are just asking as a courtesy.  If you say no they say "no problem" and move along.

Post: Airbnb asking me to issue refund

Ryan Moyer
Posted
  • Property Manager
  • Orlando Kissimmee, Davenport
  • Posts 893
  • Votes 1,293
Quote from @Olivia Grabka:

@Kyler J Sloan

1. Provide Air BNB with documentation for your regs

2. I would not issue a refund

Air BNB will attempt to coerce you and may even de platform you, but it is inconceivable to reward bad behavior from your guests.

 This is not true or necessary.  If it's within your cancelation policy, you don't have to provide any documentation.  Airbnb is just asking as a courtesy to the guest.  You can say no without any repercussions.  The sentence about them de platforming you for it is completely false.

Post: BNBformula vs Hostcamp

Ryan Moyer
Posted
  • Property Manager
  • Orlando Kissimmee, Davenport
  • Posts 893
  • Votes 1,293

Two brand new accounts that don't even have a profile picture reviving a zombie thread to shill an expensive course with grandiose, positive only comments, while even using some of the same language, is extremely suspicious, fwiw.  And within a few minutes of each other to boot.

Post: Best Credit Card for STR's?

Ryan Moyer
Posted
  • Property Manager
  • Orlando Kissimmee, Davenport
  • Posts 893
  • Votes 1,293

Amex Blue Business Preferred is 2 MR points per dollar spent on everything, and Amex MR points are among the most valuable out there for redemption, so you're really getting 3-4% back on every purchase.

I was using that but recently switched to a cash back debit card so the money leaves my bank account more in line with the time I spend it, rather than a month later, which makes bookkeeping much easier.

Post: Email gathering from ALL guests vs just the person who booked??

Ryan Moyer
Posted
  • Property Manager
  • Orlando Kissimmee, Davenport
  • Posts 893
  • Votes 1,293
Quote from @John Crimmins:

You can have them opt-in to marketing materials when they put in their email. That will allow them to choose whether they want to receive the emails. Some people get annoyed at getting added to a list, but at the same time - other people will enjoy receiving the emails - and it works (at least it does in other lines of business, I've never done this on a STR).


 The annoying thing is that it still requires them to enter their info even if they don't check the opt-in box.  I've brought this up to StayFi several times.  If the guest unchecks the marketing box it should no longer require them to enter their info.  There's no point in forcing them to enter it at that point, since you're not saving it anyway.  That just serves to create distrust as the guest then thinks you are saving their info even after they've elected to not let you, otherwise why would you still be forcing them to enter it?

I've gotten one bad review over this and had another guest that thankfully still left a good review, but let me know in private comments that one of the guests in their party was extremely angry over it.

I've brought this up to StayFi several times and they just brushed it off.  Definitely an annoying part of my interaction with StayFi so far.

Post: Airbnb asking me to issue refund

Ryan Moyer
Posted
  • Property Manager
  • Orlando Kissimmee, Davenport
  • Posts 893
  • Votes 1,293
Quote from @Collin Hays:

I would tell both the guest and Airbnb that you are a host, not an insurer.  

Why does financial damage to the guest get transferred to the host, when the host was not at fault?  How is that moral and ethical?

This is the reason we do not do business with Airbnb.  They are constantly trying to shift the host into the position of insurer, when the host hasn't agreed to that, nor have they received a premium for it.

To the contrary, why isn't Airbnb doing the refunding, since they are the ones pushing travel insurance on all of the guests, that they both underwrite and profit from?

This isn't a good company.


 They're just asking.  They don't force it in any way.  The guest requests it, Airbnb says "hey here's the circumstances, would you like to do it?" and you can say no.

Post: End of year accounting

Ryan Moyer
Posted
  • Property Manager
  • Orlando Kissimmee, Davenport
  • Posts 893
  • Votes 1,293

Most of us here count revenue on a cash basis.  That is, whatever month you actually receive it is the month/year that it counts towards.