Today we’d like to introduce you to Dana and Jeannette Chiappinelli.
Hi Dana and Jeannette, so excited to have you on the platform. So before we get into questions about your work-life, maybe you can bring our readers up to speed on your story and how you got to where you are today?
We live in Glenwood Springs, Colorado and began looking for opportunities to purchase an STR in Moab knowing we would be selling a local investment property. We had been to Moab many times and it is relatively close. There were a very limited number of opportunities in Moab for STRs.
We had been through St. George on a trip to California and we were impressed by what we saw. After a bit of research, we decided St George would be a better fit and began our search for a property.
We found a property in short order and made an offer on a recently constructed unit centrally located on the edge of Green Valley.
We had a great realtor that made the transaction seamless given the fact that we were flipping a property in Glenwood Springs Colorado.
Can you talk to us a bit about the challenges and lessons you’ve learned along the way. Looking back would you say it’s been easy or smooth in retrospect?
We had a number of challenges.
Our primary goal was to create a property that would generate as many 5Star reviews as possible. There is a lot of competition in St. George. We also wanted it to be a reflection of who we are and since we planned to use the property ourselves furnish and stock it accordingly.
It was a bigger challenge post-Covid than we expected particularly finding all the items we wanted in order to give the property an interior “face lift”. Although the unit was furnished, we decided to update the unit with all new furniture and interior upgrades.
Inventories at the time for the kinds of furnishing we wanted were limited. Finding available contractors was a challenge.
Having remodeling experience, we were able to coordinate help and also do much of the work ourselves.
Needless to say, living 6 hours away was not easy. An extra 15,000 miles this year. 🙁
Thanks for sharing that. So, maybe next you can tell us a bit more about your business?
We create dental prosthetics for dentists and their patients. We are a small lab with customers from a variety of locations. We personally own other rental properties in addition to Loft20.
What sort of changes are you expecting over the next 5-10 years?
The STR business at this time is about 30% off for obvious reasons. We are hopeful that given the high cost of airline tickets might offset this by people driving more to a destination.
Contact Info:
- Website: Loft20.co
- Instagram: Loft20stgeorge
- Facebook: Loft20stgeorge
