All Forum Posts by: Nikki Stoddart

@Autumn G. Thanks for sharing! Unless you do a reno, I don't think that property would be competitive as a short-term rental. And even if you do, I personally wouldn't invest for 2 to 5% returns.

I invest in high-end short-term rentals in California, and even in this expensive market we generally get 18 to 25% per property cash on cash.

I would say skip it!

Hey! @Nikki Stoddart Can you give me a "for instance" of what this looks like for you at purchase? Your method for calculating? I've literally been running spreadsheets all year in various markets and never found a property that gave me higher than 10% CoC, so wondering what I'm doing wrong. Maybe my calculations are off in some capacity?

I agree that right now it's hard to find anything giving those returns but here's a for instance.

We bought a four bedroom four bath property and Sonoma for 1.2 million. Did a light reno to it, and it's renting between $600 to $1,000 a night depending on how many people are staying and what season. We have about 80% occupancy March through November and then it drops to about 50% for December January February.

We find the best overall cash flow properties are four bedroom homes that sleep 8 to 10 people for under 1.5 million. To get those returns though it's all about location location location, you can't buy something that's out in the middle of nowhere because those are the properties that fill up last.

Sonoma is great because there's only a short low season, and it's not even that bad. We got a lot of local visitors from San Francisco as well as domestic and international travelers

All that being said come out right now I don't think is the time to buy. The markets we are looking at seemed to have peaked around January through May of this year and are dropping rapidly. If you wait a few months, you'll get better deals I think

1 Vote

@Autumn G. Thanks for sharing! Unless you do a reno, I don't think that property would be competitive as a short-term rental. And even if you do, I personally wouldn't invest for 2 to 5% returns.

I invest in high-end short-term rentals in California, and even in this expensive market we generally get 18 to 25% per property cash on cash.

I would say skip it!

0 Votes

Quote from @Aaron Gordy:

@Nikki Stoddart I will agree with @William Beck. The Austin IMN STR Conference was very insightful and I learned alot and made very good connections too. It was well worth it! I expect the same of the Miami Conference.

Thanks Aaron!

1 Vote

Quote from @Robin Simon:

Quote from @Nikki Stoddart:

Hi all!

I've been investing in short-term rentals for about 10 years and I'm curious to attend a conference to network with other STR investors. Looking to scale and expand into other markets.

I'm thinking about going to IMN's short-term rental conference in Miami January 23rd and 24th 2023. However, the info online for this conference is really slim. Is IMN a legit conference? Has anyone attended an IMN conference? Any feedback would be greatly appreciated. Thanks so much!

Yes - we will be one of the lead sponsors, IMN thows great conferences, bi-annual SFR conferences and then in June this past year did a STR-specific one in Austin. It is definitely more of a business-oriented conference (lots of STR vendors, industry leadership panels etc.) more geared on bigger picture stuff than something like STR Wealth or BPCON which as a much less corporate feel to it and more practical for the day to day. If you are a 10-year veteran and looking to scale, theres a good chance I think you'd get value from the event

This is super helpful! Thanks so much

0 Votes

Quote from @Dan Bowersock:

I suggest going to https://therealestaterobinsons... in Orlando Jan 20-22. They have a large presence on social media and Tony is co-host of rookie podcast for BP. I have learned so much on how to scale, and automate through them.

THE MOST IMPORTANT THING is that you will meet awesome resources.

Hey thanks! This is a great idea

0 Votes

Quote from @John Underwood:

If you have been doing STR's for 10 years what do you really think you will get out of attending one of these?

Sure they are fun to attend and talk to people but at the end of the day will you learn something all that useful?

Hi John! I see this more of a networking opportunity!

2 Votes

Hi all!

I've been investing in short-term rentals for about 10 years and I'm curious to attend a conference to network with other STR investors. Looking to scale and expand into other markets.

0 Votes

Quote from @Jennifer Fairchild:

We had a last minute change in plans and now cannot attend BPCon - 2 tickets available.

Hi Jen! I'm interested in one of them if it's still available :). 650-207-1873. Thanks!

0 Votes

@Kimberly Bunnell I'm interested if it's still available :) 650-207-1873

0 Votes

@Johnny Tenorio. I'm looking for a ticket if you still have it available :)

0 Votes

All Forum Posts by: Nikki Stoddart

Nikki Stoddart has started 7 posts and replied 48 times.

Post: Expectation of 20% CoC for STR and Turnkey: Should I walk?

Post: Expectation of 20% CoC for STR and Turnkey: Should I walk?

Post: IMN Short Term Rentals Conference Miami

Post: IMN Short Term Rentals Conference Miami

Post: IMN Short Term Rentals Conference Miami

Post: IMN Short Term Rentals Conference Miami

Post: IMN Short Term Rentals Conference Miami

Post: Post your available tickets HERE

Post: Post your available tickets HERE

Post: Post your available tickets HERE