Brett Deas
@BrettDeas
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Your cleaner sends you this picture. New guests check-in tomorrow. What do you do first?
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@LawlessGregg
I like the giving the guests an option to cancel or not. I haven’t seen anyone say that yet.
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@TKopelman
This is why you have security cameras on the outside of the house. You can see crap like this before it’s too late
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Normally I have great experiences with
@Airbnb
, but this one has shown me why hosts are fed up.
A guest left me a review, but I found out after they left that they broke 2 of our rules.
1) they brought a dog but didn’t add it to the reservation so they avoided paying the pet
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@nebraskabryce
At some point, HOA's have to be treated like REIT's. Prove that 90% of the income goes back to the property. Won't solve everything but a step in the right direction.
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@NipseyHoussle
I would much rather prefer to be paid by the hour, like a lawyer. Don’t even need a retainer fee, just pay me for the work I’ve done on the house you decided to back out on at the last minute.
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Can we even trust Bigger Pockets anymore? I just heard a New Western ad…
I’m so conflicted.
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I was just told about an aspiring STR operator who now might have to declare bankruptcy. Why?
He got scammed. Lost more than $100k all at once.
Be careful out there.
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@SureAsMel
@Airbnb
Dang, you should put the property/host on blast for this too. Let everyone know.
You should also go above Airbnb to city, have them walk it with you and show it doesn’t meet habitability standards and they will take it from there.
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@Storage_Venture
This is why states are regulating this kinda stuff. In CO you have to be licensed to market a contract (wholesale in basically any form) and the sellers have to be made aware prior to accepting the offer.
I’m surprised more states don’t often do this.
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@chernobelskiy
If you count opening an email and pdf attachment, and reading reports as operating then sure.
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If you are wanting to buy your first Airbnb, I will help you in any way I can.
But you need to know, this is what you are competing against, still want to do it?
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In case you don't know who I am, I'm Brett. I own and operate unique vacation rentals across the United States!
We are investor-funded and love to build these amazing experiences for our guests, as well as get amazing returns.
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@HelenGuo_
This is half my strategy. Buying small mom&pop hospitality businesses are under rated!
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We just built this hot-tub setup at one of our cabins. It’s placed on top of a boulder.
Guess how much this addition increased our ADR?
Closest guess gets a nice high five.
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@texasrunnerDFW
Having a mortgage doesn’t mean you don’t own the home. If Your name is on title you own it. No matter how much debt.
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For those of you who don’t know me, I run a company that buys & builds the worlds most unique vacation rentals.
We build A-frames, Silo houses, Treehouses, and any other crazy thing you can think of.
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@investing_law
Coming from an Airbnb host, sucks for them.
At least they were nice and explained the situation, but ultimately it’s their mistake that they have to pay for. Not on you.
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I have been seeing a flock to boutique hotel/motel investing.
Is this really the answer for tired STR investors? I thought this was the crowd that wanted to take down the hotels…?
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@rohindhar
I joined a mastermind group like this once, dude was the worst.
I did meet my business partners in that group, so a little upside.
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@Thefrugalgay11
I’ll do you one even better, a direct booking guest. No need to worry about a hostile review.
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Recently found out a friend who runs a 'fund' who only kept 6k this year after turning 4 flips. Its a 90-10 split with investors, they make a great return, but he does not. Would you run a fund for only 6k?
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Scenario:
You are buying an existing Airbnb (for the purpose of renting it out), and they upsell you about their Instagram account with 5k followers.
Do you pay more for the insta account? Why or why not?
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If an Airbnb operate wants to work out, there are 2 keys to success.
- Own the properties
- Own the management
Without having both of those elements, it is not sustainable.
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@chernobelskiy
I buy and build unique vacation rentals/micro-resorts with our fund. Our goal is to bring a unique experience within a 2 hours drive of every major metro in the U.S.
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@MrJonesSTRs
Wait so your telling me you can’t have the guest clean up the whole place then charge them 200 bucks?
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Have you ever been to an escape room?
Now think bigger, escape Airbnb. Real life clue.
That’s right, an entire house that is an escape experience. It can be a combo of a haunted house and the typical escape room format.
I’m thinking this is gold…
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@NewsLambert
It is shockingly strong. I recently had a listing go under contract in 5 days, way quicker than expected.
But…
So far every buyer I have been in a transaction with has gotten help/gift funds from their parents.
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@BankingNewsGuy
Are they big bank bankers? Anything and everything local is still churning, they still have flexibility.
As a borrower the big banks are killing everything right now, where as the small banks have money they NEED to lend out.
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The power of Facebook groups is unreal.
I needed a plumber yesterday, one group post and 5 minutes later I had 3.
I couldn’t even call 3 plumbers and get them to pick up in that time.
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Collecting a guests email address should be a necessary step in every hosts checklist.
It’s super easy to do, and with Airbnb continuing to screw over hosts it’s a safety thing as well. If Airbnb ever kicks you off you have a database of past guests to reach too.
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Astounding to me how people still compare the price of our units to a hotel.
Hotel: 2 beds, 300 square feet, 150 a night.
Us: 5 beds (multiple rooms), 1500 square feet, 250 a night.
On every numerical value (price or sq ft, price per bed, etc), we kill hotels…
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@indexnforgetit
Common sense...
As a side question, Boxabls are ADU's, can you call it an ADU if you don't even have a Primary dwelling on the property?????
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@chernobelskiy
I’m Brett, and I buy/build and run unique stay short term rentals (with investors of course).
That’s it, feel free to DM me if you want to talk about it.
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If you want to run the Airbnb, you must know this one thing first. People become 20 times more stupid while on vacation.
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@EmirDukic
We make no profit, and sometimes loose money on the cleaning fee. It’s the cost of doing business, and not taking advantage of cleaners.
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So excited for this A frame to go live.
T-minus 2 months to finishing date.
One of 2 very unique stays being built right now by our team!
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@JWurzak
Hmm. Curious how much cash flow was. That is the only way this deal would be profitable. Otherwisestocks would have outperformed you with little to no work/expenses.
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The best part about investing in STR's is we aren't just doing it for the numbers. You are also investing in experiences.
It keeps the spreadsheets and numbers all day exciting, knowing there is something more to it.
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Something a lot of influencers like to muddle, GROSS income ≠ NET income.
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Looking back on 2023, crazy time.
Added both the Heartland Hideaways and the Rock Haven Hideouts (8 units total).
Excited for 2024.
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STR tip of the day,
This is the only type of shower shelf you should have. Always have it built in.
Never use the stick on crap or the little tower that stands in the corner, they fall down/over and look terrible.
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Sometimes hosts I feel like hosts that that push direct booking so much should just do it. Take your listings off Airbnb fully.
Then tell me how much you hate Airbnb once they stop sending you guests.
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@MrFamilyOffice
I buy unique stay vacation rentals. Give great returns to investors from our cash cows. Places that look fairy tale esc, like the pictures are showing.
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The barrier to entry in the STR industry isn’t that high. All you need is this photo on a wall somewhere, then you’re considered official.
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@dickens1298
@Airbnb
Airbnb court could be a million dollar idea. Maybe more popular than judge Judy.
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@KenjiCapital
If you only use it to manage your own properties than do it.
If you want to grow it and manage more than your own, don’t.
I can’t tell you how many newish RE investors tell me they are starting a PM company, a great way to burn through capital and time for less outcome.
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My mid-term Tennants just moved out.
Any guesses as to what this is?
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I was recently told by a person I make more money than they do because of my “privilege”.
While I’m not here to get into the whole debate, I am here to say I don’t think people realize how much information is truly available in the modern world.
I didn’t go to college and I
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@cashrulesNC
The quality has definitely gone downhill, but I was listening to the on the market podcast which has some great info IMO.
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Humans are driven by visual and physical pleasure.
This why you need to have nice photos of your Airbnb, and good pillows.
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Crazy to think, a place like this sat for 7 days before we put it under contract. Found it on Zillow, got it for under asking price 60 day contract period.
I’m not sure if it’s the specific market or RE as a while but a year ago this would have been gone in less that 24 hours.
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@MoneyTalkWithT
I am a landlord. And depending on your circumstances, you should probably just sell.
If you are underwater, then by all means try to rent it because I don’t want you to loose money, but for most the long term commitment of being a landlord is not worth it.
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The best case for short term rentals
(Most) hotels suck.
That’s it, every time I doubt the industry I remember this fact.
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@trentjhughes
Building a real estate fund focusing on building super unique short term rentals across the United States.
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I’m looking at a portfolio sale of STRs here in CO. 3 A-frames, beautiful location. The numbers ACTUALLY pencil, but there is no way I am buying.
With all the property bills going through about STRs, I’m not opening my self up to that kind of risk.
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@mountainwesttax
Coming from a broker:
We know… trust us, we know. Now try telling that to the seller….
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These are the only states where I would currently consider buying an STR. Notice anything?
(Note: I also own rentals in 2 of these states)
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If I were to start over today, there is one thing I would change.
I would establish a personal connection with our guests through social media.
It's no secret, building in public works extremely well, and with short-term rentals it is no different. There are many examples of
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@CREdebtlawyer
But if we increase the housing supply how can the politicians use the issue as a campaign stance!?
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@yestoriches
I feel like I have the highest risk tolerance possible and a low risk environment. (Hospitality real estate).
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@LoganHaskett
That’s why it’s best to become a part of the hotels. Buy a cabin business with commercial classification (like us) and have the hotels lobby in favor for you.
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I don't see much of a benefit of absorbing the 15% guest fee as the host on Airbnb. Then it makes you the bad guy with the high price.
I would rather have the lower price and the guest see the 15% and blame Airbnb instead.
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Going off-market can be great.
Just negotiated a 0% interest, 5k month payment on a $5 million deal.
Oh and our down payment is only 6%.
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Just got the photos back for our A-frames. Can't begin to describe how amazing it all feels.
So excited to have our guests stay in these and live the experience for themselves!
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My thoughts:
Not charging pet rent/fee is unethical.
Why make everybody pay for the extra wear and tear when they don’t even have a pet?
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What are some red flags that everyone will run into as an STR host?
I’ll go first,
1) Immediately asking for discounts…
2) No reviews (pretty obvious)
3) Guests who want their family to walk the property before staying
4) Booking for someone else (person booking isn’t
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