Short term rental report

[John OConnor]

Hey Everyone! 

Alrighty, I'm totally new and this would be my first deal. My wife just found a property on Zillow and I ran the numbers as a short term rental. I'm not ready to pay for Airdna subscription. Im not sure how to read these numbers and what I'm missing with not being subscribed. Id love some pointers from this wealth of knowledge! If anyone is a subscriber to AIrdna and can share a more complete report Id really appreciate it. Id be open to partnering with someone who has more experience so I can learn. 

This property is a 7 min drive from my parents and younger siblings, so Ive got so connections in the area. 

Thanks! 

-John

[Michael Baum]

Hey @John OConnor, I wouldn't trust those numbers. I have found AirDNA's numbers to be suspect at best. I would take the time and look at each and every vacation rental in your area this is even remotely similar to yours.

Go on AirBNB/VRBO and check their calendars and nightly rates. That will give you an idea of what to expect and what you can charge going forward.

Who has the best ratings? What do they offer for style and amenities? Who is having a hard time? All these things help make your decision on the property.

Remember that you are starting from scratch with no reviews. It will take time to build a rep. Your first year will be lean. Less than you predict so be prepared. Once you get rolling, things will start to perk up. 2nd year numbers could still possibly be a loser but better than the 1st.

3rd year an beyond should really get you into the zone. We are starting our 4th year and we are going like gangbusters in rural Idaho.