Short-Term & Vacation Rental Discussions
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback
Market and listing analysis
Where can one learn a systematic way to evaluate markets and properties for STR? It feels like information overload!
Quote from @Mike Francis:
Where can one learn a systematic way to evaluate markets and properties for STR? It feels like information overload!
Check out YouTube videos or podcasts from Dave Meyers.
Read "Long Distance Real Estate Investing" by David Greene.
Don't expect to absorb everything in one sitting. It takes time to read, absorb, and put into practice.
#5 Short-Term & Vacation Rental Discussions Contributor
- Real Estate Consultant
- Ohio
- 1,231
- Votes |
- 2,112
- Posts
#5 Short-Term & Vacation Rental Discussions Contributor
- Real Estate Consultant
- Ohio
This new post would be very helpful for you to read....
https://www.biggerpockets.com/forums/530/topics/1191880-how-...
Mike,
I would be happy to help you with any analysis you are doing and share my perspective and data access. This is both an art and a science as they say. The data help with the science part, but the art comes from your design vision and connections with people in market who can give you information about the areas where you are interested in investing.
I have used a lot of tools, and right now I am using AirDNA and BNBCalc to get different data driven views on properties. Happy to run numbers for you with these tools and give you my $0.02!
#3 Short-Term & Vacation Rental Discussions Contributor
- Tampa, FL
- 1,454
- Votes |
- 1,898
- Posts
#3 Short-Term & Vacation Rental Discussions Contributor
- Tampa, FL
I agree with Ian above, this is an art and a science. I use AirDNA to evaluate properties and markets. First with the market, it gives good macrodata. From there you can drill down on properties that would be in your range and use the platforms like Airbnb to check on the health etc. The art is seeing if you can do the same if not better than what the average people are doing in that market. Also, thinking outside of the box can help avoid issues. For example, I remember Boise was all the rage during COVID. A lot of people bought thinking it would continue to grow and prosper. The reality ended up being it was a fad market, people went there because social distancing was easy and it was a new place to explore. The novelty wore off after COVID and their market crashed. That is why I like to invest in markets that have a track record of success.
-
Property Manager
- Vacation Rentals of Florida LLC
- 813-563-0877
- http://www.BookVROF.com
- [email protected]
Thanks Nathan. That one has been on my list for awhile. I will move it to the top!
@Andrew Steffens not sure where you're getting your data but the Boise market has not crashed. It's an incredibly thriving market. Not a cash flowing market anymore because we've appreciated so much and continue to do so!
-
Real Estate Agent
- 208-810-8780
- http://Xorealestate.com
- [email protected]
#3 Short-Term & Vacation Rental Discussions Contributor
- Tampa, FL
- 1,454
- Votes |
- 1,898
- Posts
#3 Short-Term & Vacation Rental Discussions Contributor
- Tampa, FL
Quote from @Molly Arnott:
@Andrew Steffens not sure where you're getting your data but the Boise market has not crashed. It's an incredibly thriving market. Not a cash flowing market anymore because we've appreciated so much and continue to do so!
Perhaps I am wrong, I had read quite a few articles like this one:
https://www.veros.com/the-rise-and-fall-of-the-boise-housing...
-
Property Manager
- Vacation Rentals of Florida LLC
- 813-563-0877
- http://www.BookVROF.com
- [email protected]
Quote from @Ian Tyndall:
Mike,
I would be happy to help you with any analysis you are doing and share my perspective and data access. This is both an art and a science as they say. The data help with the science part, but the art comes from your design vision and connections with people in market who can give you information about the areas where you are interested in investing.
I have used a lot of tools, and right now I am using AirDNA and BNBCalc to get different data driven views on properties. Happy to run numbers for you with these tools and give you my $0.02!
Thanks Ian! I might take you up on that. I do subscribe to AirDNA but not on their enterprise membership. I assume it must be pretty pricey if they won't even advertise the subscription cost. I don't have the capitol right now to spend a ton of money on software.
Quote from @Sarah Kensinger:
This new post would be very helpful for you to read....
https://www.biggerpockets.com/forums/530/topics/1191880-how-...
Thank you Sarah. I will give it a look!
If you need a direct hands-on approach to evaluating deals or lead generation, lets connect and I can help you build out the Perfect System.