All Forum Posts by: Quinn Olivarez

Value add and uniqueness is super important. As markets tighten, guests will be looking for who provides the edge to them. Galveston TX has become a very competitive STR market in the last two years, and I'm relatively new to the game, but I'm chugging along riding my high ADR and amazing reviews all the way to the top of the algorithm because of the relative uniqueness of our unit compared to the others. Every review of my listing cites the decor and uniqueness of our property, which is tiki themed.

Mine isn’t crazy, but my wife built a 10’ tall plant wall, we have dozens of tiki masks everywhere, fake birds in cages, a diving helmet, vintage pieces, handmade art, and every room is tied to the theme of the property.

on the flip side, in my super competitive STR market, I see a lot of future listings hitting the MLS because they aren't adapting to changes in the market, and the changing demographics of who is visiting. Just my .02

Quote from @Luke Carl:

I like the be in a market where more than .01% of the properties get booked. 

People just want cute and clean. They don’t need a mini horse in a treehouse 

 And when you say this, you speak for all people? 😂 

Quote from @Vin Somra:

Hi Guys, I've been soaking up all things STR. I really like the higher cash on cash returns. I have great credit and cash to invest into a downpayment. Is galveston still profitable or should I consider other markets?medical center? If anyone can provide me resources(cleaners/handyman/design) or I can get advice from boots on the ground on current market conditions that would be very helpful. I am a professional so I can't do all of the work myself and would use the automation tools(hospitable/IGMS/turnoverairbnb) to manage along with maid service/handyman.

Vin, message me if you’d like to discuss strategy with someone who has boots on the ground experience in both med center and Galveston. I have a townhome in the museum district that I’m transitioning into a MTR and a STR in Galveston that I launched earlier this year. Cheers!

Don’t hesitate because the prices keep going up in the good markets. 

As someone above said, owning your own is the best way to prove your value add unless you're a professional interior designer. Think about it like this - If you're under 40, it's super difficult to have built enough credit, capital and experience to purchase a property to STR. Do you think the thing standing between this person and executing an STR project is having someone sign up for a PMS and order some stuff from Amazon? Probably not. Chances are, they can handle it themselves. And if they can't, you're getting crumbs not a meal. And for folks older than 40, their interest in a hospitality business with passive returns that have yet to be tested in current economic conditions is bound to be closer to low than high.

I would wait because the arbitrage could take a while to cash flow. It would be a shame to have a couple bad guests in a row that force you to repurchase expensive items or risk your relationship with the property owner and be back at square 1 because of wanting to be hasty.

Quote from @John Underwood:

Quote from @Luke Carl:

Pricelabs for the win always! 

 Thought you used the enemy method?

I know you’re being tongue in cheek. That being said, learning the enemy method should be a precursor to using the software. Folks who only do the software are much more likely to fail. 

Houston is a great market and it’s close to a great vacation rental market in Galveston, too. Contact me if you’d like to have a chat about either. I live in Houston and invest in both markets

Quote from @Haley Henderson:

Quote from @Quinn Olivarez:

Quote from @Sean Bramble:

Hey everyone - I'm looking for my first STR property and am considering expanding my search to include multiple long distance markets since my home market is super slow right now (upstate NY). I have a question about if and when you actually travel to go see properties you're interested in ... seems like it would be a huge waste of time and money to travel cross-country to see a property before your offer is actually accepted

Question for those of you doing long-distance investing: do you wait to visit properties you're interested in until after your offer has been accepted? And then if something is majorly wrong find a way to get out of the deal during the inspection period? Any advice would be really helpful ... trying to widen my lead funnel as much as possible

In texas, you can cancel the contract for any reason during the option period, without explanation. I would wait to visit until after a contract is accepted, and block off enough time to see other prospective listings while visiting the property you’ve put under contract. A good realtor will get you the content you need to “see” any given deal before putting it under contract. Contact me if you’d like to talk about Galveston TX, which is a great coastal vacation rental market for long distance investors 

 Hey Quinn!

I am actually located in Galveston area and I am looking to start investing in the STR. Would love to connect with you!

Check your messages, I PMd you about this

Quote from @Sean Bramble:

Hey everyone - I'm looking for my first STR property and am considering expanding my search to include multiple long distance markets since my home market is super slow right now (upstate NY). I have a question about if and when you actually travel to go see properties you're interested in ... seems like it would be a huge waste of time and money to travel cross-country to see a property before your offer is actually accepted

Question for those of you doing long-distance investing: do you wait to visit properties you're interested in until after your offer has been accepted? And then if something is majorly wrong find a way to get out of the deal during the inspection period? Any advice would be really helpful ... trying to widen my lead funnel as much as possible

In texas, you can cancel the contract for any reason during the option period, without explanation. I would wait to visit until after a contract is accepted, and block off enough time to see other prospective listings while visiting the property you’ve put under contract. A good realtor will get you the content you need to “see” any given deal before putting it under contract. Contact me if you’d like to talk about Galveston TX, which is a great coastal vacation rental market for long distance investors