Learn How To Make Passive Income with Vacation Rentals: ► ru-vid.com/video/%D0%B2%D0%B8%D0%B4%D0%B5%D0%BE-W8vKNyO3m0I.html Build a Cash Flow Portfolio with Airbnb Arbitrage: ► ru-vid.com/video/%D0%B2%D0%B8%D0%B4%D0%B5%D0%BE-LdGZwC67m_U.html
I own a 5,000k sq ft home in Puerto Vallarta , Mexico. 7 King bed suites all with private full bath. 2 full kitchens, 1 half kitchen on rooftop with dipping pool . a Tower Gazebo living room ... Interior fountains ... 2 blocks from the beach. 1 block from huge supermarket. My niche is large family groups of up to 16 people . I keep my pricing extremely competitive for the area to remain affordable. I am ALWAYS booked . I am seeing ZERO Airbnburst here at all . Even our Off Season has become busy . Everyone and his dog wants to move to Vallarta now
I have a large 5,000 sq ft house in Sunny Puerto Vallarta . 7 king bed suites, 8 baths and rooftop dipping pool . I can host up to 16 pp quite comfortably . I keep my prices very competitive but I have been increasing the fees ever so from time to time . In 2022 I killed it ! as I was pretty booked as much as I wanted to be . Right now I am quite busy until May . I think what people are seeing in slow bookings is a multiple factor issue . FIRST may be the over excess of properties on the platform . 800 k in the US alone ! That's a lot of rooms to fill . SECOND may be the reluctance to vacation when the economy is uncertain even though the Fed Bank keeps working on fighting inflation in an already too high bracket . THIRD. there are too many of the same kind of properties being offered .. almost cookie cutter homes with one or two bedrooms in suburbs .. ( even in cities ) you need to find your niche , offer something different . don't be afraid to go bold sometimes FOURTH .. Pricing , fees and taxes being too high is an issue for Airbnb. THEY NEVER take a fee cut but want the hosts to cut their rates . MOTHER always gets her cut no matter what , NO MATTER WHAT . When you hear people complaining that they don't have to gather up used towels Or throw their garbage into a bag and walk it to the curb, or wash their dirty dishes while at a Hotel ... WE need to remind them that WE are NOT hotels . We ARE private HOMES with full kitchens and living rooms , Multiple bedrooms . Back Yards , access to lakes and ocean . Patios with fire pits . The whole reason you booked an Airbnb was for the fact it was NOT a hotel . ....... LOL. sorry , got off on a little rant there . but there is an accelerated effort now to trash Airbnbs on the internet .(Hotel lobbyists ??) the attack is extremely biased . It's meant to crash the company . It's all hyperboile to excite people
We posted our property 3 months ago and had extreme radio silence at the numbers we had initially forecasted the property to achieve nightly( conservatively) and found out real quick the market was going backwards. We slashed our nightly rates in half and almost immediately got booked up for the next 6 months. Now we’re back to raising rates again and slowly seeing bookings trickle in for next year. Obvious function of supply and demand and was easily fixed by lowering rates. So make sure your numbers work at very conservative numbers and leave even more wiggle room in your margins just in case!
@@ivantejeda Ya, so basically we had used AirDNA to analyze our competition being around $150 a night and higher. So we started out at $145 a night to undercut every other listing. We initially had set up “New Listing Discounts” and things like that so we did have some early bookings from both AirBNB and VRBO but the nightly rate after discounts was more like $99 a night. After these bookings came and went we had zero interest or inquiries so we actually decided to just fire Sale the nightly rates to get some activity going and get some reviews. I would list Sundays at $49, and increased $10 each day to $99 for the Fri/Sat weekends. Almost immediately we booked every single day of the current month and upcoming months. We went really heavy on service making sure we were accommodating any random requests and complaints to make sure we were getting reviews. We were able to become 5 star rated Superhosts with the first 2 months and and now our rates are closer to $200 a night and we’re booked almost every single day until June.(Phoenix, AZ) So we had a lot of short term pain but it was definitely people looking for lower rates due to the market. Once we became aggressively competitive with rates we were off and running! Our revenue is about double our costs doing $6k a month and paying $3k in costs. So it’s going very well now!
ABNB Profits are higher because of higher fees and layoffs. Consumer sentiment towards hosts is at an all time low. Hosts are over leveraged and will get burned in the next couple of years.
@@soobv Colorado Springs, this is typically a slow time of year but really all of last year was slower than normal. Been doing it since 2019 so I only have 3 full years to benchmark
Niche market is key. Location, location, location. We have horse boarding and rentals that associate with it. That books us up for horse people. Pet friendly for dogs too, that helps. Also adding a washer and dryer in for next season.
Started in june 22 with great success in BK, NY. Saw a little slowdown in NOV & DEC. But now Jan & Feb are completely empty, i know it’s the slower months but didn’t expect it to be this slow. Very concerning. Im a super host twice over already. Location is great, lowered my rate to the lowest i can go, i just think the area is over saturated. Nyc has over 40,000 STR i read. Looking for another source of income until i can ride out this out.
@@ivantejeda Update: The month of January is not over yet but I currently only booked 8 days for the month with a nightly rate average of $160 - $220. Correction NYC has over 90,000 STR not 40,000 as I recently found out. Feb is looking to be a better month with already 8 days advance bookings but I still feel like the market is down and may not gain more traction till April or May which means that my unit will be taking a LOSS for 4-5 months to start the year.
I'm booking into June right now, 3rd year as superhost in a somewhat rural vacation destination location featuring 3 season draws by substantial attractions as well as
@@ivantejeda Well, I conducted market research of the competition, sparse here as I indicated, and designed the space to be unique. The area is also unique, close enough to a corridor for ease of access but situated on a very quiet large property. The space is built to afford views that do not incorporate any built structures, only nature. I only have one neighbour within a mile and my area is still 50% forested so privacy is assured. The space is outfitted with original art, and several hand made textiles, not overdone but I have used pieces that reflect the multicultural aspect of Canada. So, some Asian ( East, South, and Near), some African, some Western, and First Nations. I do have quite a few images on my listing but I leave the art as a surprise for my guests to discover while here. The bed is super luxurious ( I receive regular compliments and stories from guests about beds in other hosts spaces and apparently it is often overlooked), Egyptian cotton linens; fully outfitted kitchenette, high end BBQ kept spotlessly clean, and we allow pets ( for an additional fee) which most do not do. I provide kayaks and livery service to the river, a comprehensive guide to local eateries, vineyards, historic sites and groceries. Also, I respond to all inquiries within an hour.
Started my first STR in June. It’s done very well each month. Last month was the first we’ve experienced a slight down tick in reservations, although the month was still favorable. This month has been even slower but we hope it’s more of a trend around booking lead-time than anything. We’re not in a vacation destination or big city, so it’s not all that surprising to see some slow down. We’re prepared for it.
@@ivantejeda we finished the month at about 60% gross of our monthly avg. Definitely our slowest month. February is already trending better than January though. Booking lead-times have shortened for sure, but it seems that may be a seasonal characteristic as we’re seeing our warmer months now start to book in these last 10-14 days or so.
