Panama City Beach STR performance info

[Josh Myrick]

Hey all, I am looking at properties in east PCB and I am having trouble getting good comp information. I have the AirDNA data which looks great for the area and the properties I am looking at, but when I look at the calendars in Airbnb and Vrbo for similar properties, none of the occupancy rates seem to be even  close to AirDna. The prices are about correct but most of the properties show really low occupancy. I have tried this for three different markets and getting similar results so I assume I am doing something wrong. I click the area, click flexible for multiple months and then click properties with good reviews. I appreciate any help you guys can offer in this. I really think I found a unique property that could do well, I just want to make sure I am doing my research right. 

[Matt "Roar" Gardner]

@Josh Myrick - As an investor and agent in the Emerald Coast, I get this question a lot -- How do I nail down a number to put into my calculator/analyzer?! Between the ambiguity of the free AirDNA data and frustrations with the enemy method, it's not an easy task for sure.  I recommend compiling as much data on possible on a given property:

1. Rental History - Yes, while you may or may not outperform a property based on it's historical performance, it's a good variable to consider nonetheless.

2. Local PM Projections - I encourage my clients to self manage to the max extent, and in doing so, they generally crush local PM projections; however, it's still a great variable to consider.  I also recommend getting multiple if able. 

3. Enemy Method - Comparing the perceived performance of other properties in the area could give you an expectation, but it's definitely difficult to truly extrapolate data.  You could take it a step further and message some hosts in the area to simply ask them how they've performed. 

4. AirDNA/Mashvisor/Pricelabs/Rabbu/etc - There are tons of sources out there to give you a 'zestimate' of potential rental income.  Personally, I'm a fan of the Pricelabs breakdown, but AirDNA is the most popular, especially for their free Rentalizer.  Whatever service you choose, I recommend one that you can choose individual listings and see their calculated performance.  I think this is truly the best way to create a comparative rental analysis for yourself. 

5. Local Investors/Agents - Lean on the locals to help you as well. If you don't have a local agent who understand the STR space, find one. If you aren't connected to any local investors or groups, get connected. One great regional STR Hosts group on Facebook is "STR Hosts of the Emerald Coast" -- I highly recommend you check it out.

Best of luck, my man!