Quote from @Dan Thomas:
@Jacob Murphy
Based on my experience new investors should stay away from airdna and like products. 5k is big money for someone just starting their business and from my experience the data is flat out wrong. I know it will be much more accurate in other markets but for example my str rents with an occupancy of 87% and an adr of $180. Airdna projected occupancy at 57% and adr $102. Not the kind of product I reccomend people use to make business decisions. ESPECIALLY for $5k. If you want a successful business put in the work don't overpay for bad data.
Agreed - do not buy a $5,000 spreadsheet if you do not believe in the power of data or know how to use it. However, a single area can be purchased for $20-100 for one month. That's what most people need and should do. It allows you to dig in and get proper information on your own area, which ultimately is what investors need. The spreadsheet (and global access) are for people who are in the hunting phase and are about to drop a lot of money. I'd argue putting in the work involves understanding numbers, statistical significance, and what different investment formulas are doing.
My question to you would be how are you letting AirDNA project your revenue? Usually when I hear that it's because they're not understanding how AirDNA does what it does. Not saying that's you, but if you have an area and only dig surface level, or don't understand what the percentiles are doing, yeah, for sure it's going to be "wrong". There are often hundreds if not thousands of properties in an area, and a zillion variables to all of this. They are guideposts based on profit potential for any given property, letting you set up proper guideposts and, in your case, hopefully exceed them. But if you set up yours based on 2 bedrooms that fit 4 where the host has a set-it-and-forget it policy, and you've got a 3 bedroom that fits 8 and a hot tub and you're doing pricing optimization, for sure it's gonna be "wrong".
