All Forum Posts by: John Crimmins

My only caution for using an overseas VA would be that most Airbnb users want an experience where they feel connected to the host...some VA's do not have English as their first language, and some Airbnb users may be put off by that. As mentioned above it is very easy to automate messages, and set up a template - if you wanted to set up a template and have a VA use that, you might get better results.

Evolve charges 10% for answering messages and advertising. I haven't used them, but I think I would only be willing to pay 5% for this service. I would be willing to pay closer to 20% if they were going to be your boots on the ground - coordinate cleanings/maintenance and deal with emergency situations, and be on call 24/7.

I am sure someone in the BP community in your area has experience with Airbnb and would want to work out a contract with you! Good luck and keep us posted.

Nowadays they can use ChatGPT to translate their answers and provide better replies. Chat.openai.com.

0 Votes

Awning (a PM - https://awning.com/airbnb-esti...) uses Showcase, a third party, to design and furnish. Sounds like the typical cost on a 2/2 is around 15-20k for the furniture, everything's new. I'm looking to acquire in the Smokies within the next 30-45 days, would love to compare notes / design ideas if you're interested. My mother is really good at home design so I'm leaning heavily on her.

2 Votes

Knoxville, Tennessee

Anyone have experience with this company? They offer a great airbnb estimator at https://awning.com/airbnb-esti... and talk big game when it comes to property management. Curious if anyone's used them before.

1 Vote

Quote from @Chad McMahan:

Quote from @Bruce Woodruff:

Meh. Just one man's opinion. And indicative (maybe) of one market.

Although like with any business, if you are not prepared, and don't run it like a business.....you will pay the price. I think STRs are here to stay and will grow in popularity as the years go by. As I've mentioned before, a majority of the people we are getting at our STRs are first timers, and older folks too. They are just discovering the beauty of STRs and say they will start using them every time they travel now that they know about them.

Of course, due to the economy, there may be a dip in numbers for those that are not well run/managed.

Agreed, other factors for why some STR's will take a hit, as well.

There is a lot of understandable frustration right now for folks that are:
1) Failing now, even though they did great before on that particular STR.
2) Failing now with their brand new STR, even though they heard from a lot of people that STR's are killing it.

Surprisingly, what a lot of people don't seem to grasp is that like most businesses the STR market is a macro niche, made up of countless niche models. Meaning, some of these STR models are thriving, while many strategies are indeed suffering. In many (but certainly not all) cases, the stalled STR properties look a lot like everything else on the STR market and their marketing doesn't pop. I'm seeing a some very smart people that are struggling with occupancy. Usually when I provide a STR audit with some suggestions, they then yield a boost of 20%-30% occupancy. Sometimes this means better marketing photos and/or landscaping, or swapping out some furnishings and adding creative paint. Sometimes it means adding a hot tub and/or a economical pool, or even outsourcing the STR management to a really strong PM with killer marketing skills.

Would you be open to an audit of a STR I'm in the process of acquiring? Looking to do everything I can to boost occupancy and get set up for the busy season during these next slow months (Jan-May).

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Quote from @Jarrod Covey:

What a great thread @John Crimmins! A beachfront market I've been tracking is a lot is Gulf Shores because of an anticipated increase in tourists. That is because starting as soon as March 2023, the airport there will start to host commercial flights!

I am not as familiar with west coast markets, though there have been a few people on podcasts speaking highly of Ogden, Utah. It is not technically west coast but it does feature snowboarding and scenic views!

Thanks Jarrod! If we get enough replies I'll compile it all together into a shareable list.

Those are both great call outs! I'll look into Ogden for sure.

3 Votes

Quote from @Bruce Woodruff:

If you want nearby snow, and a beach, then you're only talking the LA area....I'm sure you're aware of that pricepoint?

Haha yeah I meant more having each one be mutually exclusive! LA's the dream, but not yet.

0 Votes

Quote from @Riccardo Roggeri:

Hi Brynnen, I'm currently working with a hard money lender in Richmond right now.

We already purchased the property and we are waiting the time for the Refi. If you are interested I can refer you to this gentleman.

He's old school, very professional. One stop shop. You can do everything in house with him.

Let me know if you want to have a quick chat so I can tell you my experience.

Best

Hey Riccardo, I'd love to get his contact if possible!

0 Votes

Richmond, Virginia

Hi All,

I'm looking to invest in a STR in a growing market, ideally one on the west coast that features nearby snowboarding and scenic views. I'm also curious about underappreciated beachfront. Any markets you think seem interesting?

4 Votes

Hi All!

I'm looking to meet and potentially do deals with a GC in the Richmond, VA area and/or experienced subcontrators that may specialize in common rehabs (kitchen, bathroom, etc.). Looking for someone professional who also invests themselves. Would love to discuss and estimate some projects and talk about what partnering together might look like. If this is you or someone you know please don't hesitate to refer me!

1 Vote

Richmond, Virginia

Hi All!

0 Votes

Richmond, Virginia

All Forum Posts by: John Crimmins

John Crimmins has started 14 posts and replied 55 times.

Post: How much would you pay for a virtual assistant?

Post: Smoky Mountains - Vacation Rental Design

Post: Experience with Awning (Design/Furnishing and Property Management

Post: Are STR's headed for trouble?

Post: 2023 Most Attractive Markets?

Post: 2023 Most Attractive Markets?

Post: Hard/Private Money Loans

Post: 2023 Most Attractive Markets?

Post: Looking for GC's / Experienced Subcontractors

Post: Looking for GCs / Experienced Subcontractors