All Forum Posts by: Shannon Strickland

Melissa at Color My Bnb

@Jeffrey Jones

Your MTR market isn't necessarily weak just because rents are low. I saw the same thing in Manassas when I was searching for FF. To assess the strength of my MTR market, I began by identifying properties nearby with similar amenities—these formed my competitor set. I marked these listings as favorites to track their performance easily, focusing on those with features like my property, such as the number of bedrooms, amenities like in-unit laundry or workspace, and proximity to local attractions or hospitals. I then reviewed their booking calendars, paying close attention to how often they were booked, the length of stays, and the gaps between reservations. I realized that many were also using Airbnb, allowing nightly stays and making their calendars unavailable to true medium-term tenants. Reviews, as well as the absence of reviews, provided valuable insights into demand and the quality of previous experiences. When targeting a specific demographic, I researched the types of guests most often booking in my area—traveling professionals, medical staff, and relocating families. I hired an online designer to make sure my listing appealed directly to these groups. That approach boosted my confidence to price my property at the higher end of the market. As a result, I received five qualified leads in the first week, and I quickly secured tenants willing to pay premium rent, valuing the move from a hotel into a well-furnished, thoughtfully designed home for a similar rate as their northern VA hotel. Hope that helps!

Hi @Jeffrey Jones,

Last month, I did what you are wondering about. If you think of specific questions, I'd be happy to share my experience so far.

We paid to get the actionable items and level-up.

I joined what seemed like two thousand people at my first STR conference in 14 months of self-managing my only STR. I met people looking to excel, not those in distress. I'm thankful I attended the final STR Wealth Conference.

@Stephanie Medina My favorite way to price my MTR is using the Enemy Method on Furnished Finder and Airbnb monthly rentals.

@Marc Young Congratulations! I had a cost seg study done this year, and only my CPA could translate and apply it. Critical-get it furnished, listed, rented, and self-managed ASAP!

@Kegan Scholl

I have not experienced that, and I just hit my 2-year mark of househacking continuously, but I'm in northern Virginia. One of my rooms was rented by a traveling medical professional from Tampa who had previously worked at the hospital there before embarking on a work assignment. It seems that most people renting rooms don't want to bring their furniture in and out of someone's house. If you are going to rent unfurnished bedrooms, the price will need to drop about $100 per month. Would you consider furnishing 1 room for MTR as a test for your market? That one just might fetch the number you want/need.

Thank you, @AJ 

What caught my attention was your mention of a 7% interest rate—something I understand. I recently started investing in real estate in my 50s with one coastal property and a high-interest 30-year fixed loan.

“Early” retirement is my goal, but instead of waiting for the elusive perfect market timing and getting stuck in analysis, I'm focused on what I can control:

* Outlasting others in my market who also bought at high rates. If I stay consistent and strategic, hopefully, time becomes my ally.

* In year three, projected cash flow will let me send extra toward the principal (not just CapEx & operations). That's when acceleration should begin. I need patience though.

* Right now, I’m laser-focused on being the best host I can be. I want guests to choose my place, not just for the amenities, but because the experience earns their trust—and their return stays help pay down my loan faster.

* Tip for youngsters: During deal analysis, run your numbers like pessimists do—low season, high expenses, delayed bookings. I was slightly too optimistic, and that doesn’t magically make cash flow appear.

I’m playing the long game, and I want to encourage other small-scale or new investors to think like operators—not speculators. Build resilience into your strategy early. Stay lean. High interest rates are challenging!

@AJ Wongundefined

@AJ Wong