All Forum Posts by: Amy W.

How do I check the competition? You mean the occupancy and revenue bits on AirDNA?

Hi ya'll,

I'm looking around the web for a calculator to find out the true potential profits for an AirBnb. I'm looking to invest in Georgia remotely.

-Does anyone have a favorite calculator to estimate profits? The Vacasa estimate of returns is VASTLY different than AirDNA's and has zero itemization. Mashvisor's looks more detailed. AirDNA prides itself on accuracy but doesn't estimate insurance or utilities.

-How do you figure/estimate in these extra expenses? or, if you are in GA: What are your utilities/taxes/insurance in Georgia? A ballpark would be GREAT.

-If you use Vacasa in Georgia, what do they charge? AirDNA's estimate of PM is 20%. Is that about right?

-I'm researching and reading/listening like crazy. I'm so afraid of spending money on buying, furnishing and launching a place and then.... breaking even (or worse). I only have one shot. (I don't make a lot of money, it would be a decade or more before I could gather this much capital again)

I appreciate any input!

Amy

@Tausen Richmond If you first property gains enough equity, you can do a cash-out refi. Ideally, you pay off the first loan and use the remainder as a downpayment for property 2. I see that as a pipe dream, but if you are rehabbing, then it's more possible.

With 250k, I think you could buy 3 or 4 properties (with 20% down on each) comfortably and still have reserves. RenttoRetirement FAQ says to start out with more than one if you can, to cover vacancies. But dang, if I had 250k... I might jump right into multi-family. Of course, I don't have this 'problem' so I haven't researched in that vein.

I'm working now to figure out who to trust. Not Roofstock so much. Not LiveHomeRoom. 

Amy

Hi there,

I'm reading, and reading, and reading, and learning the things. One question I can't seem to find the answer to--it seems too obvious for words-- is if you purchase through a turnkey company, do you use a buyer's agent? I just learned about appraisal gaps and appraisal contingencies and I'm realizing I definitely need someone who knows about these things and is my exclusive advocate, such as a realtor.

But with Roofstock and R2R, there is no mention of a buyer's agent. Roofstock is I guess acting as a buyer's and seller's agent at the same time-- which is tricky at best obvs--and certainly not a true advocate for the investor, from what I gather on here.

Amy