Recently opened a boutique hotel - can be rented by individual suite (there are only 3) or the whole house. Airbnb is hitting us up with a 15% host fee for every rental - suite or whole house. Our management team said if we bump up the nightly rate to compensate, then our rates will look too high (even though the guest total is comparable to other places). So we're not making the ROI we should... help!
Hey Mike, thank you for this video. Regarding the Value of the commercial property, I see you calculating it as Value multiplied by Cap rate. However, from other sources, I have seen it being calculated as NOI divided the cap rate. However do you reconcile the two approaches?
I have a friend that is doing this in Miss on a major highway in a tourist area. He also has RV spaces on the property behind the motel. He wants to do Airbnb and long term rentals for the motel rooms he has renovated into small apartments with a kitchen area. Would love to talk to about what you are doing .
All very helpful. From a boutique hotel owners perspective, is there a place for executive assistant support in these smaller hotels? Are you utilizing VA services?
Thanks for the show. I recently opened a 12-unit boutique hotel and am struggling with laundry machines. Would you share the commercial model you purchased? Thanks
Hey brother just came across your info in last few days. I'm pivoting from Multifamily to hotel. Looking to take down a 42 room motel here in Vegas and want to create a boutique self serve property with this acquisition. Would you be open to me flying you to Vegas and putting you up for a day to have you give me some insights. Let me know and we can discuss further
Thank you for this very in-depth explanation tutorial! You just showed me that this isn't what I want. What I want is to earn passive income by *investing in* those *doing* the (mental & physical) *grunt* work!🤣😂✔️💯🦾
Recently opened a boutique hotel - can be rented by individual suite (there are only 3) or the whole house. Airbnb is hitting us up with a 15% host fee for every rental - suite or whole house. Our management team said if we bump up the nightly rate to compensate, then our rates will look too high (even though the guest total is comparable to other places). So we're not making the ROI we should... help!
May I ask, what linens do you use? Is drying just enough (with getting wrinkles out) or do you need to dry press them?
We use standard textile or Boston textile, and just dry them.
Hey Mike, thank you for this video.
Regarding the Value of the commercial property, I see you calculating it as Value multiplied by Cap rate. However, from other sources, I have seen it being calculated as NOI divided the cap rate. However do you reconcile the two approaches?
I have a friend that is doing this in Miss on a major highway in a tourist area. He also has RV spaces on the property behind the motel. He wants to do Airbnb and long term rentals for the motel rooms he has renovated into small apartments with a kitchen area. Would love to talk to about what you are doing .
Send me a message on IG or FB account.
instagram.com/the_airbnbguy/
facebook.com/mike.sjogren.7/
All very helpful.
From a boutique hotel owners perspective, is there a place for executive assistant support in these smaller hotels? Are you utilizing VA services?
Yes most of the op is run remotely by VAs
❤
Thanks for the show. I recently opened a 12-unit boutique hotel and am struggling with laundry machines. Would you share the commercial model you purchased? Thanks
We didn't buy new commercial ones. The ones at Beverly I believe are whirlpool.
we are going to stat this in Texas ,
How does the refi work with STR income compared to LTR income?
Can you please elaborate?
Hey brother just came across your info in last few days. I'm pivoting from Multifamily to hotel. Looking to take down a 42 room motel here in Vegas and want to create a boutique self serve property with this acquisition. Would you be open to me flying you to Vegas and putting you up for a day to have you give me some insights. Let me know and we can discuss further
Thanks for this! Wow, especially about the laundry situation
Great info! If you’re ever in England, let me know!
#1 is fire 🔥
🔥🔥🔥🔥
Enjoyed this!
❤ very valuable
Thank you for this very in-depth explanation tutorial! You just showed me that this isn't what I want. What I want is to earn passive income by *investing in* those *doing* the (mental & physical) *grunt* work!🤣😂✔️💯🦾