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Updated 14 days ago,
Running STR #s for Newbie
I'm looking to get my first STR. The goal starting off is a place that my family enjoys visiting and renting the rest of the time. I recognize that when my family visits I'm hurting my profitability, but that would be once or twice a year and its part of the selling point to my wife to purchase a property.
Where I need help is running the numbers. Are there tools or rules to estimate the expenses. For example how much to reserve for management fees (I don't have time to host myself), cleaning, electricity.
I'm fine with breaking even at first, but I want to make sure I'm not getting in over my head.
Much appreciated.