All Forum Posts by: Jesse Turner

AirDNA is one of the most common ones. You can get some basic info for a given address for free. If you can't find what you're looking for there, I can run it through my account. Feel free to DM.

STRInsights is better at narrowing down to which market will give the best return (investability, etc.). AirDNA is best used once you're ready to buy in a specific ZIP code.

 Search this forum for other conversations about the reliability of AirDNA. You'll want to get really picky about which comps you use for justifying your revenue projections.

Consider location, amenities, ramping period (including likely discounts for first guests), as well as "x" factors like design and theme of the top-performing properties in your neighborhood.

I'm looking for more info on this as well, and so far I've seen a place on the backend where hosts can enter cleaning fees, pet fees, etc.

My assumption is that VRBO combines these fees and masks the itemization from the potential guest.

 It really depends on the property. The number of beds, the total square footage, or anything else that could impact the hours or complexity of a cleaning crew's job. I'd spot-check a few of the comps you're seeing by peeking at their cleaning fees on whatever platform they're listed.

I've had Proper turn my application down for fire risk (Park City, UT). I then turned to Safely, and they have an interesting intro offering where you pay for 80 days at a time, but those days are only used for nights when the property as actually rented.

 A "mentor" is someone to whom you can ask questions, offer support (perhaps even free labor from time to time, if the task is critical to your business goals), and will help you make connections. The cost may be a cup of coffee every few weeks.

A "coach" is someone who will hold you accountable to your goals, give you specific instructions on scaling, and may even integrate you into their business. The cost is likely hundreds of dollars per month or thousands per year.

Occupancy doesn't seem to be the issue for that area. The question is the ADR (average daily rate), and if that's enough cash-on-cash for your investment goals.

Here are the top two performing 3/2 or 3/1 properties for that area, and they make $65,000 in a rolling 12-month period.

Notice the difference in ADR (despite similar revenues). The one on the right is lakefront as you'll see in these listings:

Hannah's Lakefront Perch

https://www.vrbo.com/2769969?k_clickid=f5e3f8fa34d011ee83f4f...

The main problem I've seen with AirDNA is that it presents projections very confidently without telling you what it's omitting. If you don't see an important factor (like walkability to main attraction, last interior remodel year, lot size, or any basic amenities for that matter) then know that AirDNA is not and can not take it into consideration when it spits out it's projected revenue figure.

There are some filters for identifying "economy", "midscale", "upscale", etc. (pictured below), but after applying these, you'll still want to manually review each comp and determine how close the "finishes" (flooring, appliances, aesthetic, door handle...) are to your target property.

And THEN, you'll still want to consider if whoever is managing/hosting the listing could compete with (or beat) the listing quality of your best comps. These are some of the variables that are top of mind for me as I'm spinning up a new, never listed STR in the Midwest right now. It has no good comps, so my target yearly revenue number is more like a challenge to me and my listing and service quality.