All Forum Posts by: Shannon Strickland

@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

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.