All Forum Posts by: Wilson Vanhook

Just flat out be better than your competition. Care about the owners you manage for. Give their properties an appropriate amount of attention instead of making them just a number. Make your owners more money than the competition would and do quarterly meetings with your clients to report how things are going. Bring in metrics to your report to show how you have their property performing better than other similar properties.

Wow that’s robbery tbh. There are other tools that accomplish the same goal without hefty onboarding and cancellation fees. Their onboarding fee now is like $1500.

This may just be coincidence you had a couple of dummies in a short period of time. I’ve had hundreds of guests use our locks and only maybe 1 or 2 that ever had trouble and it was because they put the wrong code in over and over.

Think you’re trying to do too much.

Quote from @Zach Proto:

Hi looking to get DSCR loan for a few of my STR properties. They are condotels. Any recommendations? Any places that do not have prepayment penalties or have lower LTV requirements? Thank you

 The One Brokerage can do 15% down. Fees, prepayment, and interest rates will be higher though.

Quote from @Karl McGarvey:

Quote from @Ashley Tocco:

Hi! Looking for any feedback regarding short term rentals in Galveston, Tx. My husband and I are looking to invest in the area, beach or lake house this year and curious how others have done in the area. Also looking to build a team as we are out of state in California. 

 Hi Ashley!

Galveston has a great market for STR whether it be in a single family home or condo, there is something for everyone and a wide range of budgets. There was a dip in business this year but that was consistent with most national numbers. @Holly Brown and I have owned multiple on the island as well as long term rentals and love the market. We also work with out of town investors to help others do what we do. Feel free to shoot me a message if you would like to deep dive on the island and learn about it, always willing to help!

Ever done arbitrage in Galveston or know people that do?

Following. Where you doing this? Broken Bow?

Quote from @Michael Baum:

Well this is a cool place! Broken Bow looks like a nice place to visit.

There are a lot of places that have been on the market over 120 days. Might be some good deals!

What kind of nightly rates and occupancy are you seeing on your 1/1 @Wilson Vanhook?

Typically netting about $7000k per month (some months lower, some higher) after taking cleaning fees out. On pace to gross $100k for the year. Our occupancy has been high 90s. We’ve booked every night we’ve been available and only had about one day per month blocked off to check on things. January and February are the slowest months of the year in this market though so stay tuned :)

@Alex Romero what’s the plan if people told you to shy away from the 3-bedroom but you went for that size anyways?

Curious to hear the purchase price on this one. The 3-bedroom are far and away the worst COC return. But that being said, I believe almost any cabin in BB can do well right now with the correct marketing and tactics.

Our 1/1 cabin in Broken Bow is doing fantastic! This may sound crazy, but I’d maybe even rather have a 1/1 over a 2/2 for straight up the same price. We get such high occupancy marketing as a honeymoon cabin that the 1 bedroom will always be the answer in my mind.

The 2-4 bedroom cabins based on my analysis are the worst investments in Broken Bow when factoring in yearly revenue, occupancy, & rates vs purchase price. Get a 1 bedroom for less than $600k, and make the sellers credit towards closing.