Build Community Before Money

Sam Parr shares his perspective on building and potentially monetizing a Short Term Rental (STR) community, emphasizing that authentic community building should precede business considerations.

Key Points:

• Origin of Community:

  • Started the group to manage incoming questions, not to build a business
  • Created as a communication solution, not a revenue opportunity

• Potential Monetization Paths:

  • Do Nothing: Keep it as a pure community platform
  • Focus on STR Operations: Build actual rental properties
  • Community/Content Development: Leverage existing engaged audience

• Suggested Business Model (if pursued):

  • Newsletter Component:

    • Weekly/biweekly format
    • Focus on industry news and regulations
    • Include curated top 5 STR tweets with commentary

  • Tools and Resources:

    • Create premium spreadsheet tools for property analysis
    • Develop input-based calculators
    • Provide benchmark metrics (e.g., 20% cash-on-cash return targets)

• Pricing Strategy:

  • Basic Tier: $300-500 annual subscription
  • Premium Tier: $2,000-5,000 for advanced users
  • High-End Option: $10,000 for established operators (3-4 properties)

• Premium Content Focus:

  • Expert insights from successful operators
  • Scaling strategies for 10-20 unit portfolios
  • Systems for hands-off management

The key insight is that Sam values the organic community development and sees monetization as optional rather than essential, suggesting that authentic community building should precede any business considerations.