Short term rental strategies/tools

[Karene Burnett]

Hello All!
I am working towards purchasing my first investment property this year. I am strongly leaning towards a property to use as a short term rental. I am looking to connect with investors in this space. I noticed BP doesn't have a calculator specifically for this. What are you doing to analyze deals? Do you just use the rental calculator? I just feel like there are so many different factors/costs associated with Short term vs long term rentals. Also if there are any forums, blogs, tools, podcasts, books, anything that has helped you in this space please send them my way. I have listened to many of the BP podcasts. Any books on BP you would recommend for short term rentals. Also the market I have been eyeing is Port Aransas down to South padre Island. Any realtors in that area with experience for short term rentals please send me your contact info! Any investors that have properties in that area I would love to connect. Thank all for taking the time to read this. I have been listening to BP for about a year but I am newer to the website. 

Karene Burnett

[Jake F.]

Hey Karene, I have a STR in South Padre. It has performed really well. In my opinion it's difficult to really analyze a STR because so much of it depends on how it is managed. I've found the info from Airdna to be way off, and beware sellers' agents advertising "potential" earnings. Best bet is to find a similar property on Airbnb and check out availability and nightly rate to estimate revenue. Don't forget to factor in seasonality.

Feel free to reach out if you have any questions about the SPI market.