Today we’d like to introduce you to Mariah Johnson.
Hi Mariah, we’re thrilled to have a chance to learn your story today. So, before we get into specifics, maybe you can briefly walk us through how you got to where you are today?
Well, at a very young age I began investing in real estate while working in upper-level management.
My original real estate venture was traditional rentals, it was a great passive cash flow opportunity for me while working in my corporate career.
After working for 1.5 years, I got promoted! Not only promoted but relocated to another city and state. The best part is I had less than 10 days to make it all happen.
I had just ..purchased and furnished my first home, better yet I was just getting to the point of feeling settled and comfortable in my space. I was so excited about the promotion and the opportunity but to be honest I didn’t want to deal with the hassle of moving my three bedroom home across state lines, adapting to a new environment, and adjusting to a new role and district. It just seemed way too extreme.
So I decided I would leave my home furnished, take with me my most valued possessions, and hope for the best!
After all, I wanted an easy transition and this my friends is how I dabbled into the short-term rental market.
I’m sure you wouldn’t say it’s been obstacle free, but so far would you say the journey have been a fairly smooth road?
No, absolutely not. I’ve learned so much over several years of successes and failures.
I started my real estate portfolio in May of 2016, purchasing single-family homes and then renting them to traditional and or section 8 tenants. I spent most of my time decorating and renovating these homes before and after work. Scheduling and going to showings after showing for months before I landed tenants. The tenant turnover and section 8 inspections were always exhausting; replacing carpet, patching holes…it just seemed like there had to be a better way to passively make income. After my promotion in 2017, I tested one of my properties as a short-term rental and I loved it!
By 2019, I had transitioned all of my properties except for a few into vacation rentals, reason being: more profit, less wear and tear on my home. I also enjoyed connecting with business professionals and families that were visiting my home for the week or even the weekend. Short-term rentals at the time were such an untapped market many cities lacked property management companies or cleaners that serviced vacation rentals. 2019 is also the year I began managing other homeowner’s vacation rentals, and I began to work for myself full time
2020 was a bust — the world stopped traveling, and we were in a global pandemic. I had never experienced anything like that before. That year was hands down, was the hardest year for me mentally, financially, and physically. I learned so much about business and myself 2020 in business and in life.
In business, I learned diversification is key, or as they say ‘never place all your eggs in one basket. My few traditional rentals are what kept me afloat that year families still needed a place to live even though the world had stopped traveling.
In life and business, I learned that “to pivot is a change in strategy without a change in vision”. I stopped feeling helpless about what happening in the world and began to shift my mindset to make the world happen for me. Yes, people aren’t traveling yes, we are in a pandemic. However, I had to open my mind to other avenues and possibilities to make ends meet for not only me but for my clients as well.
Then I thought to myself, there are still people traveling and looking for housing despite of the current world events: frontliners, construction workers, military, interns, and dislocated housing individuals. I began targeting hospitals, insurance, construction companies, and schools for long-term housing placements.
Alright, so let’s switch gears a bit and talk business. What should we know about your work?
I own a short-term rental vacation hosting management company, we service properties nationally and internationally.
While offering a turnkey vacation rental setup experience including the following services:
In-house Interior Design and Rental Setup
Move In |Out Services
Guest Communication 24/7
In-house Cleaning Services
and Toiletry Replenishment
We specialize and are known for our interior design services and turnkey rental experience.
I’m most proud and grateful for all that we have accomplished but if I were to pick just a few, I am most proud of hitting 1 million in revenue at the end of 2021, and design wise I am very much digging the two latest design projects we completed in Lower Greenville Dallas, Texas, and North Hollywood California.
What set me apart from others is I have executed every role in running a short-term rental operation from the investor, plumber, designer, cleaner, rental set up, inventory, scheduling, dispatching, listing integration, listing agent, guest communication agent, pricing and strategy, policy and procedure curation. Meaning that there is nothing I ask my team to do that I haven’t done myself.
What sort of changes are you expecting over the next 5-10 years?
The vacation rental industry in the US dates back as early as the 1950s and possibly even earlier than that. Previously primarily used for holidays and or special occasions and events. In the early 2000’s we began to see the industry become more robust with the founding of Airbnb, trailing an innovative footprint behind booking.com (1996) VRBO (1995), VRMA (1985). Over the past several years, I have noticed more frequent leisure and work-from-home travelers. People aren’t just traveling for annual family trips or reunions. Nowadays they are taking advantage of unique and local getaways as well, in addition to temporary furnished housing opportunities over extended stay hotels.
People love to travel, experience, and of course they love their privacy. Not to mention a home away from home experience with a full kitchen and private quarters. Especially on big family vacations or long terms stays. With that being said, I believe the industry will continue to grow and prosper.
The biggest shift, changes, or trends I could see happening is a city and state bans, licensing, outlawed, and zoning for vacation homes. This has become relevant in several US cities.
Pricing:
- Interior design $7 sqft
- Hosting management fee| 15% of reservation income|1-2 bedroom
- Hosting management fee | 20% of reservation income|3-4 bedroom
- Hosting management fee| 25% of reservation income| 5+ bedroom
Contact Info:
- Website: www.lokalestates.com
- Instagram: @lokalstays
- Facebook: https://www.facebook.com/LokalStays/
- Yelp: https://www.yelp.com/biz/lokal-stays-dallas-2
- Other: www.lokalstays.com
Image Credits
Bygazaille Photography Thope Photos
