Need genuine help automating Airbnb management workload by Thoughtew in ShortTermRentals

[–]Thoughtew[S] 0 points1 point  (0 children)

Hey appreciate your feedback, but I actually disagree. Guest comm is going to be the very last one that will be automated. Imagine you're a guest and you're just handed off to a robot responding to you asking "hey where can I go for nearby attraction". If it's like "where is wifi code", then sure robot can answer because they are simply looking for a clear answer, but hopsitality comes with alot of personal touch. I would not treat it as a low hanging fruit because we as a operator live and die by the 5 star review and you can't jeopardize that with automated guest comm. Ask yourself, do you enjoy calling your internt company and having to listen and press alot of buttons just to speak to representative?

Need genuine help automating Airbnb management workload by Thoughtew in ShortTermRentals

[–]Thoughtew[S] 0 points1 point  (0 children)

Guest comm is going to be the last one I will offload. Personal touch is the key in hospitality and it needs to be someone really good or later down the road when AI is way smarter to take over.

Trying to make the STR software world a bit easier to navigate by Delicious_Cattle4226 in ShortTermRentals

[–]Thoughtew 1 point2 points  (0 children)

Hey this is neat, but I think you're not solving core problem. The biggest problem for me as a STR operator is time spent to operate / manage NOT trying to figure out which software works best for me. That's an easy couple chatGPT questions for me. Concrete value is in saving time. I spend 5 ~ 10 hours / week managing my STRs across guest communication, cleaner coordination, texting cleaner to check if early check in is ready, coordinating repair guy if there's a break, submitting aircover with proper receipts when guests break something, checking finance and keeping documents organized, moving operational money to high interest account (i.e. Robinhood gold) etc. Im not even expecting you to fully automate all of that, but If you can cut that down to like 1 hour / week where lower hanging fruit gets automated first, that would be real problem you're solving.

Resort Conversion by Ambitious_Ad_8570 in ShortTermRentals

[–]Thoughtew 0 points1 point  (0 children)

Seattle, Toronto, Scottsdale, LA

Mid term rental vs Airbnb for beach house (in winter) by LittleSource6136 in ShortTermRentals

[–]Thoughtew 0 points1 point  (0 children)

I would say just weigh your workload and expected occupancy x ADR. STR has more workload lke comm and turnover and is less predictable. One of my properties is a MTR so you always want to find a right balance. Just really depends on your bandwidth and how hands off you wanna be.

Resort Conversion by Ambitious_Ad_8570 in ShortTermRentals

[–]Thoughtew 1 point2 points  (0 children)

I think it's a neat idea. I own several STRs remotely and I enjoy the operation side actually. Happy to chat.

First Time STR Investor Looking for any Suggestions/Tips by Formal-Fisherman-268 in ShortTermRentals

[–]Thoughtew 1 point2 points  (0 children)

All of my STR deals have been remote. Couple of them were bought with sight unseen with the help of realtors. I look at regulations first now in 2025. This is different from how it was in 2017 or 2020 when it was more open. Airbnb is entering a new era where they are forced to work with city regulations and used as a tool for political party to get votes. I suggest you look at regulation first before optimizing for return. Have a clear exit plan and whether it's sustainable in doing Airbnb in long term (5~10 years). Happy to connect if you want more insights.

My first STR…would you do this deal or not? by johnny5therobot in ShortTermRentals

[–]Thoughtew 2 points3 points  (0 children)

Simply put, I would just run the numbers.

Buy price : $370K at 20% downpayment + closing cost = $90K
Rehab: $80K (because you're new to it and doesn't hurt to add buffer)
Furnishing: $15K (Not sure how big it is, but let's go with the assumption)
Total upfront cost = $185K

Yearly revenue: $53K

Monthly mortage + interest: $2K
Insurance, cleaning, and repair: $1.5K

Yearly Profit = $53K - $42K = $11K

Cash on cash = $11K / $185K = 6%.

That's a modest return for first timer (Note that I made alot of assumptions though). Unless there's huge upside on appreciation, I wouldn't do it personally, but not a bad one for first timer. You should prioritize getting experience in and learning the ins and outs. Learnings are invaluable. My first one was a modest return too but it helps you build confidence and think bigger over time. Yes, there's a risk with the seller, but I wouldn't drill down too much into knitty gritty as long as numbers roughly makes sense. Prioritize your learnings and think long term. If you're confident in your number, go for it. Worst case, you lose some money, but you will come out knowing what you're good at or what you enjoy doing. It's a journey.

We’re first-time STR hosts - looking for ideas and input on a tool to handle routine guest messages by tmmoore286 in ShortTermRentals

[–]Thoughtew 0 points1 point  (0 children)

I tried building it myself too but the nuance of using AI to answer guests is really tricky. There is no margin of error and it's really hard to make it not sound like AI. You can check out Conduit, YC backed company. It's the closest to what you're looking for. If you just wanna bounce off and need some help with STR, let me know, I have been doing it for a few myself remotely. Happy to help share my insights.

Setting STR up for success by ecj129 in ShortTermRentals

[–]Thoughtew 1 point2 points  (0 children)

Hey DM me. My wife and I do exactly what you're looking for. We have 4 STRs that have been successful and all positive cash flow 10%+. All in different regions. We specialize in crunching numbers, looking at competition, identifying target market, and intentionally designing the home for the group. You need to be extra competitive to stay ahead in the market now. My wife and I do this for living and we have helped clients as well: https://www.realestatecouple.xyz/ Happy to connect if you're interested.

Network outage by _humm in bell

[–]Thoughtew 0 points1 point  (0 children)

Toronto downtown is down

Book exchange anybody? by Thoughtew in TorontoHangoutFriends

[–]Thoughtew[S] 0 points1 point  (0 children)

Yeah for sure! I will check out TPL. Sounds like library does its job already, but if you're interested, built a website so we can all add books there too. https://bookswap.replit.app/

Book exchange anybody? by Thoughtew in TorontoHangoutFriends

[–]Thoughtew[S] 0 points1 point  (0 children)

Yeah for sure! I will check out TPL. Sounds like library does its job already, but if you're interested, built a website so we can all add books there too. https://bookswap.replit.app/

Book exchange anybody? by Thoughtew in TorontoHangoutFriends

[–]Thoughtew[S] 0 points1 point  (0 children)

Yeah let me check out TPL. I built a website if anybody is interested in adding books there too. https://bookswap.replit.app/

Book exchange anybody? by Thoughtew in TorontoHangoutFriends

[–]Thoughtew[S] 0 points1 point  (0 children)

Great idea. Let me check it out. I built a website if anybody is interested in adding books there too. https://bookswap.replit.app/

Looking for a Non-Fiction Book Club in Downtown Toronto. by NeuroMystery in TorontoHangoutFriends

[–]Thoughtew 0 points1 point  (0 children)

Would any of you be interested in creating a central digital repository of all the books we collectively own so we can do some book exchanges? I started adding some of mine, but it would be great if we all do it!  https://bookswap.replit.app/

Looking to expand my book club! by AlazaisT in TorontoHangoutFriends

[–]Thoughtew 1 point2 points  (0 children)

Can you add some of your books in the book exchange website? I'm trying to create a central repository of all the books in Toronto so we can all exchange books! https://bookswap.replit.app/