All Forum Posts by: David Gauger

I just wanted to thank everyone for taking time out of your day to answer my question.  We're going forward with purchasing the house and will close December 15th. This BP community is outstanding.  Thanks again!

Quote from @Drew Sygit:

@David Gauger don't trust either AirDNA or the rental company - don't trust ANYONE!

They are all tools to be used to make investing easier for you - but, you need to understand how to use tools for them to be effective. 

So, obtain the underlying data and analyze it to understand it. Don't blindly accept it.

That's why I'm here asking for peoples opinions.  Besides AirDna and the rental company I also have my realtor working on getting me a copy or two of actual rental income for comparable properties the past two years.  I feel like the only way to truly know is pull the trigger and find out. A little bit of an unsettling feeling lol 

Quote from @David Gauger:

Quote from @John Underwood:

Trust the person not the computer.

You don't know what samples Airdna is using that are not good comparable properties.

I have the paid version. It provides 12 comps however, I would say only 3 of them are comparable. Some are oceanfront which this property isn't and others are elevated on piers which this property isn't. I'm not sure if a home on piers is more desirable or not. I'm not sure grandma wants to climb 30 stairs every time she wants to get in the house. Though I personally would rent a house on piers over a traditional home assuming everything else is comparable.

Quote from @John Underwood:

Trust the person not the computer.

You don't know what samples Airdna is using that are not good comparable properties.

I have the paid version. It provides 12 comps however, I would say only 3 of them are comparable. Some are oceanfront which this property isn't and others are elevated on piers which this property isn't. I'm not sure if a home on piers is more desirable or not. I'm not sure grandma wants to climb 30 stairs every time she wants to get in the house. Though I personally would rent a house on piers over a traditional home assuming everything else is comparable.

Quote from @Andrew Steffens:

We use AirDNA when supplying projections to owners.  I find them in general to be good/conservative in their number so I am happy to provide it to the owner as it allows me the opportunity to under promise and over perform.

It is important however not to just plug the address into the rentalizer and go, you need to analyze the comps below and weight the comps most similar to the subject property.

Hope that helps!

Interesting, I'm seeing the exact opposite on this property. I've run other properties in what I would consider less desirable in regards to proximity to the beach and things to do and airdna is giving me even higher projections. Confusing to say the least lol. Thank you for the input.

Interesting,  I'm seeing the exact opposite on this property.  I've run other properties in what I would consider less desirable in regards to proximity to the beach and things to do and airdna is giving me even higher projections.  Confusing to say the least lol.  Thank you for the input.

I have the paid version.  It provides 12 comps however, I would say only 3 of them are comparable. Some are oceanfront which this property isn't and others are elevated on piers which this property isn't. I'm not sure if a home on piers is more desirable or not.  I'm not sure grandma wants to climb 30 stairs every time she wants to get in the house.  Though I personally would rent a house on piers over a traditional home assuming everything else is comparable.  

How accurate has everyone found air dna to be.  I purchased the service to analyze properties in a beach town in north carolina.  I ran the rentalizer and it came up with a projected number that made the deal work.  I then called a local rental company to have them run numbers on what they thought the property would generate in rental income.  That number was about $20,000 less than what air dna projected.  The $20,000 less kills this deal for me.  Any help is greatly appreciated.  Thanks