Advice on tools and resources

[Robert Leitner]

I'm a newer investor with 3 out of state long term rental properties that I've acquired over the last year and half. Those properties are in Phoenix and I've relied on my agent and typical tools like Zillow to help me determine expected rents to help calculate cash flow. The market there has been crazy and it's become tough to find a LTR with positive cash flow. I'm starting to look into short term rentals as the next investment as it seems that the cash flow opportunity is greater. My agent is also an investor, both short and long term, and I'm wondering what kind of information I should expect related to short term rentals, like rate and occupancy? 

I'd prefer to have the tools myself to find all the information to determine viability, but I'm finding that data to be incomplete and expensive (airdna), what are some of the tools you use to help determine if a STR is a good investment?

Thanks,

Robert

[Bryan Balducki]

@Robert Leitner maybe you have already done this…but you could use Airbnb/vrbo to locate STRs in the areas you are interested in. Look at the calendars and pricing for those properties to see the demand, and then even contact the hosts directly and ask them about their success with the properties. More likely than not, the hosts would be willing to fill you in on the area and demand info. Hope this helps!