All Forum Posts by: Shannon Strickland

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

Maybe there's a correlation...now the bears have a selection of hot tubs to try.

Quote from @Patricia Andriolo-Bull:

BTW, they went from a great company, good reviews, to NOTHING!

Wow! That puts it in a different light for me. Running an enduring business requires skilled juggling.

My only STR showed up on a Google search on Expedia, but that's because of VRBO. It doesn't show up on GVR because I don't have direct booking yet.

@Thanh Lu John’s post was very informative. I just explored my PMS (OwnerRez) and I followed the API link for GVR and it will connect if I have a direct booking landing page.

I wish I had purchased with the aim of 20% annual revenue instead of 10%-15% to cover All operating and holding costs.

I wish I had added Airbnb a month after I felt comfortable with my PMS and Vrbo.

I wish I had worked harder to achieve an earlier date-placed-in-service for tax purposes.

I wish I had attended the Avalara MyLodgeTax Lodging Tax 101 within days of closing to understand all the state, county, and local taxes and licenses.

I wish I had known I was responsible for collecting and remitting taxes from Vrbo bookings because of the API connection to my PMS.

I wish I had hired one cleaner at a time from Turno to build trust with one another and pride in keeping an orderly supply closet.

I just hit the first anniversary of the date-placed-in-service, and there might be other “wishes,” but these are what immediately came to mind.

 I am integrated through OwnerRez, and I have not received that email.

I can't find the setting on VRBO, and now I wonder if it's because of my PMS API. Does anyone else experience the same?

Hello @Karina Busch,

Last summer, when I launched my only STR, I did not effectively navigate the tax scenario, but after calling VRBO, OwnerRez, and MyLodgeTax, it eventually got sorted out.

After securing my North Myrtle Beach license, I signed up for VRBO alone to simplify my learning curve. Then, because I was unaware of all the potential taxes, I hired MyLodgeTax to manage this for me. MLT discovered that I needed an additional license from the state, and there are seven different taxes totaling 12% that I must pay monthly. I thought VRBO was collecting taxes, so I didn’t pay them. What I didn’t realize until five months later is that VRBO does not collect and remit on my behalf due to my PMS integration. Needless to say, I ended up paying a summer’s worth of taxes. After I learned what I needed to do (the hard way), things have run smoothly. This was a classic case of “you don’t know what you don’t know.”

Although I was nervous to add another ball to juggle by bringing Airbnb on board in the fall, I am very glad I did, because while the summer was wonderful, VRBO bookings dwindled severely, and Airbnb bookings saved the year. This year, bookings are at a 3:1 ratio, Airbnb to VRBO. If I hadn’t added Airbnb, I think I would have sold it after owning it for one year.

Having said all that, it is my understanding that different markets can be stronger on certain OTA platforms, and it is wise to quickly discover which one dominates your market.

Hopefully, that helps in some way.