Rookie Mistake or Hidden Opportunity?
We recently found a property we were excited about as our first STR. We had big plans for the design and amenities to turn it into a premier family destination. For context, I do have an established interior design business, so I’m confident we can deliver a top-notch experience in terms of design and amenities. Then we ran the numbers. We used STRIQ, filled out our buy box, and analyzed the property—and it came back with a 0.0/10 with high confidence. Now we’re second-guessing everything. Maybe it’s excitement, maybe it’s optimism, but we keep telling ourselves the comps aren’t great comparisons since none of them offer the level of design and amenities we’re planning. At the same time, we’re very aware that we’re rookies—and we don’t want to strike out on our first deal. So I’d love some perspective from those with more experience: - Are there ever exceptions where you override the data? - Do strong design and amenities ever meaningfully outperform weak comps? - Or is the rule simple: if it doesn’t meet conservative minimums, you walk away—no matter how much potential you see? Appreciate any candid advice.