AirDNA or MashVisor: What Data Tool Would You Use?

Question

Hi everyone,

I've been researching potential markets for short term rental ROI and it seems like as far as tools go, it's mostly the two: AirDNA & Mashvisor.

I'm wondering if anyone else has had the need to research lots of markets (I live in the SF Bay Area and property prices are too expensive for me to do local investment, so I'm basically looking at any market in the US). And if so, do you find one tool more useful than the other? It seems like AirDNA is very expensive, and can only show you more detailed data after you decide on a specific market. MashVisor gives the free trial period, but doesn't show you the average nightly rate, occupancy rates, etc at one glance.

This led me to thinking more about potential tools that can help investors like myself. If there was a tool that showed you top level data (average nightly rate, occupancy rates, seasonality, etc) for $29.99 per month for ALL markets in the US, would you subscribe?

Thanks in advance for your input!

Helen

Rachel Hughes · Answer

Hi Helen,

I recently went through this process and also was unable to find a tool that gave high-level data at a reasonable price. I almost spent ~$600 on AirDNA's investment explorer but ultimately decided against it.

Here's what I did do... Since I am a newbie investor and don't have tons of capital, I knew I wanted to be in a market with a low median home price ($200k or less). From there I made a short list of cities that met that requirement (focusing on larger metro-plex areas rather than vacation towns). With that short list I made spreadsheet and included the following for each city...

1) Annual visitors - really easy to look up on Google

2) Median home price - I think I used Zillow

3) Airbnb Revenue - I got this directly from Airbnb. You can go into the app and click "learn about hosting", enter the city name, and it will spit out a revenue estimate

Using the above, I narrowed the list to about 5 cities. From there, I did a deep dive on STR regulation in each city. This is super important and took some digging/follow up emails with local govts.

Ultimately I landed on Memphis, TN and my husband and I relocated here. We are closing on our first property in ~2 weeks and hope to buy 2 more in 2020.

P.S. AirDNA's investment explorer tool can be used for free in a demo version for the entire state of TN. Lots of solid STR markets in TN and regulation is not too strict in most cities!

Hope this helps...if you build a better tool for this type of research, let me know :)

Luke Carl · Answer

I'm actually going through this right now in a new market. (I can't believe I'm close to getting serious about buying another STR).

I pick a vacation market. (As in an area where people go on vacation but no one lives there). I check to see if the local government likes renters or doesn't (google search). Then I check the neighbors on airbnb and ask them questions to find out if they actually own the property or not. Crazy thing is this new market I'm looking at I've literally found ONE self manager that's not using a co-host. As in they are actually doing it themselves. In my opinion, no one else is competition.

I check their calendar to see how booked they are. I also check how much they're charging for nights that aren't booked and minimum night stay. If I like what I see..... buy it. Then I hire a housekeeper and buy a bunch of towels and wait for the reviews to stress me out and wonder why the hell I'm in this business. Sure beats a day job.

(Truth is I didn't read the entire OP so my reply could be off a bit)

Good Luck!

Greg Chambers · Answer

I am amazed people are willing to spend $300,000 to $1,000,000 into an STR but unwilling to invest in research tools to properly analyze the market place.  There should be a pic in the dictionary for this next to the penny wise dollar foolish definition.

I am wondering if anyone could answer OP's question (I was also interested in that answer as AirDNA seems to be the standard .. AirDnA or Mashvisor .. ?

Paul Sandhu · Answer

She ^^^ made a good informative post.

But as far as data goes, I just look at local motels and check out their prices.  I live in Hades Kansas.  It is not your typical market.  It's the modern day equivalent of a wild west town.

Kellan Martz · Answer

@Sam Klein https://www.airbnb.com/d/finan...

Michael Greenberg · Answer

Do you research within a tool, time consuming but free.  Once you settle on an area, buy one month of Airdna (make sure to cancel on time or they will bill you again), price varies by market.  Take 10% off their numbers and you'll be doing well.

Mark Miles · Answer

No advice on tools but, per the post I just wrote, definitely focus on the southern half of the US:

https://www.biggerpockets.com/...

Ryan Patrick · Answer

I was reading an article last night and a deal for Mashadvisor was on their page. No monthly subscription, just a one time payment of $99 for a lifetime subscription . It expires in less than 24 hours. I emailed them to make sure that it was not a per month subscription, I ordered it put in the licence code and under profile it says lifetime subscription. Here is the link. Thank You.

https://shop.bigthink.com/sale...

Luke Carl · Answer

Another vote for Gatlinburg its the best in the country if you ask me. Although I prefer P Forge and Wears Valley over Gburg (same market)

Sam Klein · Answer

Thanks! They seem to really low ball it.

AirDNA or MashVisor: What Data Tool Would You Use?

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