All Forum Posts by: Quinn Olivarez

Airbnb will work out for you if you take one of two approaches. Approach one is the known commodity approach. People already like this place, and are willing to pay. Cost is a bigger barrier to entry. But there are also less speed bumps along the way in escrow, setup and operations. Think near national parks, major tourist destination cities with low restrictions, and beaches. The other approach would be the passion project approach. That is where the market is less popular than some that come to mind instantly, but, your sweat equity and knowledge of the market will counterbalance the visibility / consistency over time. If you’re gonna invest in a place you yourself wouldn’t go, make sure it’s popular, because the cash flow will keep the business going. If you’re going to invest in a place that others aren’t as keen on, be prepared to potentially wait a while for cash flow. That is where the love and passion will make up the difference for you

I’m not in FL, but I’m in a beach market (Galveston TX). I’m 5 blocks from the beach and it hasn’t been an issue for us. Plenty of bookings and plenty of guests ready to pay a premium price. The beach is still walking distance away, or an incredibly short drive. Tbh I think it helps us stand out to be off the  beach. Less commotion, more quaint, and we have property in a neighborhood that represents the town well. 

Check turnoverbnb.com

 I have not! It hasn’t missed a beat, and I love the integration 

Attractiveness is a weird metric. Will these tools help you raise your rates? Probably not. Could they help you with cost management? Perhaps, especially a smart thermostat. My STR is in a very very hot market, so having remote control of the thermostat is critical to keeping the electric bill reasonable. Cameras may make you more or less attractive depending on the guest, but could collect evidence that protects you if a guest recklessly gets hurt or something. They could also make you accountable for a guest getting hurt bc of negligent property condition. There are trade offs involved in many of these things, but I don't think they make your listing generally more or less attractive. Furniture, finishes and thoughtful touches will achieve that

midterm for the long haul: how to reach FI through MTRs

1- the tools to analyze the STR component of the market. Having pricing tools is also super helpful in running accurate numbers.

2 - the connections to make launch smooth and quick, such as quality leads on cleaners, handymen / women.

3 - the ability to offer PM assistance without having it be a critical component of the deal. Many folks want to self-manage, but, some want boots on the ground. 

4 - integrity. this segment of the industry is rife with grifters and salespeople looking for their next commission. This is the most important quality imho. An agent with integrity will bring 1-3 to the table naturally, and won't mislead you into investing in a market with a questionable STR future

Look into Galveston instead. Nearby and a well established market. DM me if you’d like more information 

It sounds to me like you are mired in frustration and resentment towards Kiyosaki, whom I agree is a bit of a grifter guru type. That being said, you are not a slave. You control what you do for a living, and how long you do it. Yes, you can “just go meet someone.” Now, doing that may not yield the results you want, but that is where persistence, self reflection and rethinking strategies comes into play. Broaden your horizons, hold yourself reasonably accountable for your missteps, and things will fall into place as they are meant to. 

Someone you know. Sometimes the best advice is the kind you don’t want to receive. Is there a chance that maybe you do have those people in your life, and you just don’t adequately invest your time into making them believers? Food for thought