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All Forum Posts by: Theresa Holl

Theresa Holl has started 21 posts and replied 257 times.

Post: New to BiggerPockets and Real Estate Investing

Theresa HollPosted
  • Investor
  • Minneapolis
  • Posts 265
  • Votes 160

Awesome.  Great to see you on the journey.  You'll find tons of useful tips in this forum.  During your research, don't forget to study how local hotels are doing too.  People often spend all their research focus on Airdna, not realizing that resorts and lodges are also your competition.  hotstats.com is one of my favorite sites for that.  Hotel KPIs are a bit different that STRs so if you want a hand walking thru any of the jargon, let me know. 

Post: Which STR management software

Theresa HollPosted
  • Investor
  • Minneapolis
  • Posts 265
  • Votes 160

Hey Nikki - Just FYI, Lodgify and some other apps won't give you access to your guest data, a vital resource for targeted advertising and marketing strategy.  When you get your demos, ask about data sharing and make them be specific.  Also, the comments above about not spreading thin until you're ready are correct.  For people with near perfect websites and highly optimized listings, multiple OTAs are a great strategy.  If your website hasn't been refreshed/audited lately and your listings haven't been optimized, you're investing money in the wrong place.  That's how I would prioritize.  Best of luck!!!

Post: ADVICE - Looking for Tenant on Commercial Property

Theresa HollPosted
  • Investor
  • Minneapolis
  • Posts 265
  • Votes 160

Hey Craig, have you done any research on which of those tenants would be the most profitable for you?  That's a pretty wide net to cast and marketing your property will be easier once you target a specific "avatar."  Interested to see where you go with this,  strategically.

Post: The Impact of Guest Satisfaction on Your STR Business

Theresa HollPosted
  • Investor
  • Minneapolis
  • Posts 265
  • Votes 160
Quote from @Calvin Baughman:

Oh God! This was very smart. You got the moves, Theresa haha. I'll definitely gonna try it!


 Hahaha...yeah.  AI for marketing is a trip.  It's not always as complicated as we assume technology to be.  Interesting to see where it's all headed.

Post: Advice/feasibility of financing first STR investment

Theresa HollPosted
  • Investor
  • Minneapolis
  • Posts 265
  • Votes 160

Check out my friend Kyle and KTRloans.com  He can give you some advice for sure.

Post: Lodgify and STR

Theresa HollPosted
  • Investor
  • Minneapolis
  • Posts 265
  • Votes 160

Recovering technology rep here.  :)  So one thing to be careful of across your tech stack is how data is shared.  Lodgify, for example puts your guest data behind a wall, which limits your marketing power later when you should be leveraging those insights.  I tell people to double check how data is stored and shared with all software applications along with evaluating price, functionality, compatibility, etc...

Data is king.  Going further down this - one of my favorite rabbit holes - there are a few different AI tools/plugins you can leverage to not only improve guest experience, but capture additional guest data like emails, etc...This is all super useful in running targeted marketing strategies down the road.

Post: Vacation rental stats vs. just an STR.

Theresa HollPosted
  • Investor
  • Minneapolis
  • Posts 265
  • Votes 160
Quote from @John Carbone:

I have both varieties, I enjoy the longer stays of the "vacation rentals" whereas my "just an STR" enjoys higher occupancy, less guest questions during stay, and overall more profitable.


 John - that's a really interesting breakdown.

Post: Is your STR depreciated over 27.5 years or 39? Check your CPA!

Theresa HollPosted
  • Investor
  • Minneapolis
  • Posts 265
  • Votes 160

Very interesting...

Post: New Free Chrome Extension to Estimate Airbnb Revenue on Zillow

Theresa HollPosted
  • Investor
  • Minneapolis
  • Posts 265
  • Votes 160

Hey Dennis - did you come up with this?  Looks promising. :)

Post: The Impact of Guest Satisfaction on Your STR Business

Theresa HollPosted
  • Investor
  • Minneapolis
  • Posts 265
  • Votes 160

Great replies.  Another thing is responsiveness and there are some handy cheat codes in the AI world with direct messaging functionality in certain PMS offerings.  Also lots of cool tech coming out in the guest experience space to tailor someone's stay to their personal interests.  One of my favorite simple hacks for dealing with difficult guests is to use conversational AI to respond to a nasty review without being emotional.  You can literally tell the program how you actually feel and prompt it to remove the emotion. LOL.  Kind of a lifesaver.