All Forum Posts by: Zachary Cain Humphrey

This an awesome idea. I have heard of cabin / mountain market STR operators doing some kind of hiking package, or way to connect a guest to a private tour guide for an "upcharge" which gives the hike tour guide an income and the STR operator a nice upcharge too.

Purchasing a land lot and then using the paid off lot to secure a construction loan from a bank could also be a viable option rather than fixer upper or turnkey. If you go the fixer upper route , just know there are many predatory contractors looking to take advantage of new investors. Only pay for work done. Never pay money in advance of work being done. 

house hack all the way

hold some of that initial 100,000$ for reserves. if you spend it all and something goes wrong you wont have time to accumulate profit the first year to really afford to fix anything. then you'd be dependent on personal income or another loan to fix the issue if one arose. play it slow and safe at first while you figure out the game and take some initial hard knocks that are bound to come. 

Great info!

Hospitable for me has been the most intuitive PMS

Ask some questions:

1. is the RevPar / RevPal going up year over year in the market your looking to build in ?

2. What bed/bath count has the highest occupancy rate (occupancy rate will reveal demand for certain bed and bath counts in that market)

3. If the 5/3 bigger cabins average a higher demand than the smaller lets say 2/2 cabins then could it make sense to build two small cabins?

... what your looking for with the data is to establish a reason to make certain moves. Lots of great educators on youtube for getting data to drive decisions. Kenny Bidwell of STR Insights is a good one

Ive had 3 rental abitrage airbnb units. My best piece of advice is to set up systems (property management service and automatic messaging). System for cleaners (make your expectations known like a cleaning checklist) and stick to these systems. The moment you become complacent with the systems you set up thats when it all will come undone. 

I myself am a travel nurse and Airbnb host. I have both been looking for a place to stay and hosted travel nurses myself in my airbnb units. 

Travel nurses on furnished finder are wanting to pay way less. your dealing with individuals. who want to pocket as much money as possible and rightly so.

The goal with MTR is to connect to companies who pay for the nurses and also set up the housing for the nurses (the companies pay more) than the individual nurses want to. 

I believe one of the best methods to create wealth right now via STR is to buy land and build new construction. Then furnish that new construction and run it as an STR. The equity created will give you a good buffer during these uncertain financial times.