All Forum Posts by: Theresa Holl

Cool plan Henrik - a lot of MTR success is about getting known for it and doing strategic partner marketing. Getting a large network of companies that know your personal brand to recommend you to your ideal guest is key to steady bookings.  It's more than just insurance companies and hospitals too. So many types of companies have traveling workers/guests.  Universities, flight schools, HR departments for corporate housing, military bases, etc... the list is actually pretty long.  Even a minimalist online presence adds some credibility to your business and lets you build longterm relationships with repeat guests. 

Hi Abdi, I have some friends I can connect you with, particularly a nationwide mortgage broker with great expertise on creative financing and investor dos and don'ts who could be good resources for you without pressuring you into anything.  Give me a shout and I'll connect you with Kyle.  Another business partner of mine is a marketing pro who helps investors anticipate which properties will book out well and which ones might struggle, provides some creative design tips too, if you're into STRs at all.  Both of them will answer any questions you might have without any judgment.  This is how we all learned!

Excellent point! Both. Once the investor enters the life expectancy of the capital expenses, financing, short term financing, rehab costs, turn costs, maintenance, and expected sale or rental revenue, the property management features will project the cashflow, equity, and profitability. Graphic projections will be created to anticipate when capital expenses might occur. This gives the investor the option to either solicit bids from the program’s contacts section or time the sale to avoid possible expenses. This could also help the investor see if those items will need replacing at a narrow or broad timeframe, thus affecting the purchase offer price. The vision of this program is to help the investor determine if it is a viable file AND to monitor the property’s investment value after purchase.

This is very good insight. This is where the science of the program gives way to the art of the investor. For example, if the investor knows the H2O heater, roof, appliances, or HVAC unit are of different life expectancy than the average the program defaults to, we will have the future ability to enter the investor’s expectancy. Perhaps lower if it is a rental, as renters are not known for maintenance of capital items. The vision of this program is to help the investor determine if it is a viable file AND to monitor the property’s investment value after purchase.

Yes - so the assumptions are a huge part of it.  The idea is that the cost of owning it (repairs, maintenance, etc...) are all built in.  He would love some early feedback from pros who are likely to use something like this.

Hey everyone- a friend of mine is looking for feedback/beta users for a tool that calculates the long term cost of any property you're evaluating in minutes.  His idea is to help people analyze long term costs faster that others, providing a nice competitive advantage. 

Anyone interested to meet the developer, give me a shout.

In my experience, my partners don't want a financial incentive.  They want me to help solve their clients' problems.  I'd focus on meaningful business relationships more than a bonus. 

Hey Emily- It sounds like you have a lot of complementary skills to offer.  The key is probably determining your specific target market and a clear message about how you can help them.  Also, having a simple online presence that tells your story will make a big difference.  

Also ask the local corporations and government agencies who they use for setting up corporate housing. And a bonus tip, get black out shades and mention them prominently. If you get traveling nurses, a lot of them work at night and sleep in the day.