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Updated over 4 years ago,
How to figure income and other questions.
I'm looking at a vacation rental cabin. The seller has owned it for 2 years and has given the following numbers. Year 1, gross of about $12,000. Year 2, gross of about $24,000. This was over 2019/2020. He says that in year 1 he had lower rates in an attempt to get more bookings and set himself up for Superhost status on AirBnB. Year 2 he was able to raise the rates due to the Superhost status and I would assume more bookings along with the increased visibility. I wonder how much of the increase is due to Covid (it's 1.5 hours from the DC area) and what I can expect going forward.
I've never done short term rentals before; does this sound legitimate? The difference between year 1 and year 2 is significant and would obviously be the difference between losing money and turning a decent profit. How hard is it to become a Superhost, is that the end-all be-all of this business, and how long could one expect to take to get to that point?
Thanks for any help.