All Forum Posts by: John Crimmins

This sounds like a nightmare. A single ****up will cause you to have written evidence that you promised something to a guest you cannot execute on, and grant them a refund.

They already have programs that safely identify common questions and give boilerplate responses, so you can control the responses and ensure you aren't saying things you can't promise.

What if a guest asks if they can do early checkin? Your AI is going to randomly pick between 'yes' and 'no' based on your past history because, well, its sometimes yes, and sometimes no.

This type of AI is not suited for this task, where the context matters. It's better to use the existing apps out there that identify common questions and give prescribed responses.

 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.

@John Crimmins

I recommend you get a business card. Business cards often have lower APR (12-15%) and come with awesome incentives for a business like 12 months at 0%

I personally use the Chase Business Ink Card, American Express Blue, and Capital One Spark. 

They all have interest-free periods that I've used to fund furnishing and other start-up costs when launching a STR.

Hey! 

I'm new to the investing space, but I'd love to know... 

If I'm looking to invest in an STR that I'm going to hold for a long time, what metrics should I be looking at?

What are some benchmarks you use personally to tell on paper if a property has the potential to be a good investment? 

I have a few sellers that are willing to finance / carry back a portion of the property, and I have been trying to find a lender that will allow this to function as a downpayment of sorts (they lend 80% LTV and seller carrys 20% or so).

Is anyone familiar with banks/lenders that will allow this?  I've called a few and no luck so far. 

Been looking mostly in the western US, but have been looking at getting into some markets in the south so any info would be appreciated.