May 26 2020 38 mins
You guys know how I'm all about trying things that have never been done before (hello Shiplap Shower?) and looking for properties with unique stories! In this episode, I'm interviewing Dustin Abney from D. Alexander, which is the first owner-operated Home Hotel Collection. Dustin learned that group travelers like families and friends were being underserved in the short term rental market, and that's when he realized that he had a unique opportunity to elevate the experience of single family homes.
We talk about how the heck one raises a lot of capital to buy over 17 houses from coast to coast, how to operate them and how to create a consistent yet unique decor style in different parts of the country. Dustin explains in more detail how you can get this type of investment off the ground, how he was able to pivot during the pandemic, and how he picked the right markets for his investment.
Takeaways from this episode:
-Study your ideal customer before you make your investment: think about their habits, what they're looking for in a property and how they spend their vacation time.
-Big cities aren't great for group destination seekers (low ROI) because these cities have a low short season and real estate is expensive. Small cities tend to have very long low seasons and loose rental guidelines.
-Looking for new vacation locations every year is hard! If families or big groups like a destination, they tend to come back and book a year in advance, which is great for planning.
-If you're looking to follow Dustin's footsteps consider amenities that are unique and upscale!
-Provide a great sleep experience and elevate their experience by providing activities or amenities that most guests wouldn't have at home.
-In a time of a pandemic or economic disruption, don't wait for 'sh*t to hit the fan': reach out to your guests before they reach out to you, that way you can avoid a cancellation or listen to their concerns and try to accommodate their needs.
-Consider adding 'experiences' or products that increase the property's value like grills and outdoor seating areas.
For show notes and Wendy's Airbnb properties visit:
http://flippinwendy.design/blog/podcast-episode-9
To learn more about Dustin and D. Alexander please visit:
https://www.staydalexander.com/
https://www.linkedin.com/in/dustinabney/
https://www.instagram.com/staydalexander/
https://www.facebook.com/StayDAlexander
We talk about how the heck one raises a lot of capital to buy over 17 houses from coast to coast, how to operate them and how to create a consistent yet unique decor style in different parts of the country. Dustin explains in more detail how you can get this type of investment off the ground, how he was able to pivot during the pandemic, and how he picked the right markets for his investment.
Takeaways from this episode:
-Study your ideal customer before you make your investment: think about their habits, what they're looking for in a property and how they spend their vacation time.
-Big cities aren't great for group destination seekers (low ROI) because these cities have a low short season and real estate is expensive. Small cities tend to have very long low seasons and loose rental guidelines.
-Looking for new vacation locations every year is hard! If families or big groups like a destination, they tend to come back and book a year in advance, which is great for planning.
-If you're looking to follow Dustin's footsteps consider amenities that are unique and upscale!
-Provide a great sleep experience and elevate their experience by providing activities or amenities that most guests wouldn't have at home.
-In a time of a pandemic or economic disruption, don't wait for 'sh*t to hit the fan': reach out to your guests before they reach out to you, that way you can avoid a cancellation or listen to their concerns and try to accommodate their needs.
-Consider adding 'experiences' or products that increase the property's value like grills and outdoor seating areas.
For show notes and Wendy's Airbnb properties visit:
http://flippinwendy.design/blog/podcast-episode-9
To learn more about Dustin and D. Alexander please visit:
https://www.staydalexander.com/
https://www.linkedin.com/in/dustinabney/
https://www.instagram.com/staydalexander/
https://www.facebook.com/StayDAlexander