All Forum Posts by: Sheeva R.

Mortgage + taxes + HOA will be 49,700 per year. AirDNA estimated around 80k for this property. When I look at similar properties on Airbnb they go for $400-600/night. Can I assumed around 70% occupancy?

Looking to self manage.

Any preliminary thoughts?

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Looking for some guidance here from those that are more experienced:)

I would like to buy a short term rental in a beach location and am looking for suggestions on specific locations where the prices aren’t so insane that you can make the spreadsheet work.

I started looking at the emerald coast florida but again I can’t find any deals where the numbers actually work.

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Originally posted by @Jay Breitlow:

Ethan finding a cleaning crew is PARAMOUNT. We ALWAYS and I mean always overpay our cleaners. Case and point today we spent 6 hours onboarding a new house in Kissimmee (outside orlando) whose prior cleaners did not care. And it showed in their reviews. Deep cleans 2x a year if not quarterly are a must if you want top return. Vett them well. Have a backup and then another backup. Also you MUST have someone follow the cleaner to do a QC check. Bc entropy sets in and as humans we all have a tendency to become lax with time. Will you lose money on the clean? possibly. Is it worth it? yep your weight in gold. Coffee stains under the fridge or a dust bunny in a corner, not if you want the 5 star review and the repeat bidness 🤪

What would be included in a deep clean that is not normally cleaned? Sorry for the seemingly obvious question.

Do people you hire as backups know that they are backups?

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Originally posted by @John Underwood:

Originally posted by @Sheeva R.:

Originally posted by @John Underwood:

Everyplace is overpriced, but this is unfortunately the new normal.

Make sure the numbers work or don't buy it.

Use real data don't rely on Airdna. Check competition.

Put it all in a spreadsheet and see what the numbers say.

Thank you for your insight! How do you go about obtaining the real data? Do you go through air bnb for all the seasons and get estimates that you plug into spreadsheet?

I first use Vrbo as this is a true vacation destination if you have the right property, then yes I would also check Airbnb.

Yes, as calendars fill up, I check occupancy and rates on maybe 6 properties that would serve as comparables.

Then take an average on occupancy and price to get a baseline. Excel can make this easy to do.

Thank you!! How much a buffer do you give yourself for error? Generally what % net do people find that this is worth it? I know that’s a hard question.

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Originally posted by @John Underwood:

Everyplace is overpriced, but this is unfortunately the new normal.

Make sure the numbers work or don't buy it.

Use real data don't rely on Airdna. Check competition.

Put it all in a spreadsheet and see what the numbers say.

Thank you for your insight! How do you go about obtaining the real data? Do you go through air bnb for all the seasons and get estimates that you plug into spreadsheet?

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Yes I spoke to them and they said air dna is a little low. But even if you estimate a little higher the profit margin is really not that great? Am I missing something?!

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Hi,

I wanted to get everyone’s thoughts - I have been looking at a 3bedroom in destin listed for almost 1m. Looking at the air dna data, I can’t make the numbers work. I know price of properties have shot up and wanted to get others thoughts.
is the air dna data accurate? How are properties flying when the numbers on the surface don’t seem to work?

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Originally posted by @Myrtle Mike Thompson:

There are definitely some good STR properties in the Myrtle Beach / North Myrtle area for under $600k.

Would love to speak with you further about this.

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Bumping for updates from this thread!

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All Forum Posts by: Sheeva R.

Sheeva R. has started 17 posts and replied 52 times.

Post: Help me analyze this deal!

Post: Help me analyze this deal!

Post: Best short term rental beach destination

Post: Orlando Short Term Rental

Post: Is destin overpriced right now?

Post: Is destin overpriced right now?

Post: Is destin overpriced right now?

Post: Is destin overpriced right now?

Post: Best Short Term Rental Markets in Southeast?

Post: Actual Numbers: 2-Year Update on VR in Destin, FL