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Updated 11 months ago, 01/21/2024
How to estimate the gross potential revenue of a STR?
I've read "Short Term Rental, Long Term Wealth" and the direction is to use STR-specific data companies such as AirDna, but to focus more on the aggregate area data instead of individual property data. The other thing I seem to be seeing a lot is the ENEMY method.
For the ENEMY method in particular, I can grab 5 properties with the same number of bedrooms and bathrooms for consistency. I can look at airbnb and see how many days are blocked off in the upcoming 60 days for a rough occupancy rate, but given that many people don't book that far out this doesn't feel super reliable. Average daily rate is really difficult also because it's a different price for different days. It all feels like a ton of information and it's all over the place.
I understand that STR income potential is highly variable but does anyone have a good resource to systematically go through and get some sort of a range?