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Updated over 3 years ago,
Advice on tools and resources
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