YoC STR

Short-term rentals (previously VC-backed, now just me). Reformed finance guy. Golf dork.

[YoC STR @YieldOnCostSTR]

As promised, here's the link to the full STR Kitchen shopping list:

87 items your kitchen needs for <$3,500. Including Amazon links, as well as Costco products and links when I think they offer a superior product.

https://t.co/bnMXrcrOFj

[YoC STR @YieldOnCostSTR]

@Aldigity 🫡

[YoC STR @YieldOnCostSTR]

@Solwoldjr74 @farango77 @RyanDanz @NickHalver @imrichardfertig @nickfosterSD @tyannmarcink @EmirDukic @rohindhar @TrentHawthorne @markjenney Appreciate it - shoot me a DM if I can ever be helpful

[YoC STR @YieldOnCostSTR]

@farango77 @RyanDanz @NickHalver @imrichardfertig @nickfosterSD @tyannmarcink @EmirDukic @rohindhar @TrentHawthorne @markjenney Can’t in good conscience contribute here anymore

Good lesson on platform dependence 🙂

[YoC STR @YieldOnCostSTR]

@rohindhar If I operated in a market with lots of supply I would actually run a strategy somewhat like this.

Buy six, run for 24 months, keep the 3 with the best financial return/ease of management. Buy 8, repeat. Buy 10, repeat.

[YoC STR @YieldOnCostSTR]

@GeringerAdam Hope it was a good outcome for you!

[YoC STR @YieldOnCostSTR]

@evanpalsson Dealing with the linens is sneakily the most annoying part

[YoC STR @YieldOnCostSTR]

If you want to ensure that managing your STR is (relatively) pain-free, you MUST avoid this one operational landmine:

The pull-out sofa.

- They break incredibly easily and are a pain to repair/replace
- They are disgusting
- Linen management is a nightmare
- Groups who are willing to sleep on a pull-out sofa are generally worse guests
- Increased wear-and-tear on the property

If the return profile of your STR is acceptable only because you slammed 2 (or, gulp, 4) extra bodies into the house then you don't have a good investment.

[YoC STR @YieldOnCostSTR]

@ChrisK_STRs I think I purchased ~800 in my previous life. We were dealing with repairing/replacing like one a week, it was a total nightmare

[YoC STR @YieldOnCostSTR]

@let_us_build Unless you value your time and emotional stability at $0 it's not worth it

[YoC STR @YieldOnCostSTR]

@MrJonesSTRs AI makes a provocative furniture designer

[YoC STR @YieldOnCostSTR]

@dcjohnsoniii @farango77 Having three ourselves, they are capable of wear-and-tear like you couldn’t imagine 🙂

[YoC STR @YieldOnCostSTR]

Iron rule of furnishing an STR:

Never, under any circumstance, put a queen bed where a king could fit.

[YoC STR @YieldOnCostSTR]

@farango77 I hate pullout couches

If I need to slam another body into a house to make the investment work, then it's not a good investment.

Also, they get disgusting. And they break. And guests who are willing to sleep on a pullout bed are generally worse guests.

[YoC STR @YieldOnCostSTR]

@jonfitzsimon You’re not alone!

[YoC STR @YieldOnCostSTR]

@PedroRosich Right to jail

[YoC STR @YieldOnCostSTR]

@MrJonesSTRs

[YoC STR @YieldOnCostSTR]

@Gil_Topaz Sometimes this business really is quite simple

[YoC STR @YieldOnCostSTR]

https://t.co/HiS6qQIrjI

[YoC STR @YieldOnCostSTR]

A few years back I ran this test on a pretty significant data set - won't claim 100% accuracy, but a King bed resulted in 6% better occupancy and 5% higher ADRs than a Queen.

(1bd STRs)

[YoC STR @YieldOnCostSTR]

@farango77 Not terrible...